The Role of Ontologies for Designing Accounting Information Systems

The accounting ontologies were conceptualized as a framework for building accounting information systems in a shared data environment, within enterprises or between different enterprises. The model’s base feature was an object pattern consisting of two mirror-image that represented conceptual the input and output components of a business process. The REA acronym derives from that pattern’s structure, which consisted of economic resources, economic events, and economic agents. The REA model was proposed as a means for an organization to capture the signification of economic exchanges between two business partners. The REA ontology provides an alternative for modelling an enterprise’s economic resources, economic events, economic agents, and their relationships. Resources are considerate organization assets that are able to generate revenue for implicated parties. Events provide a source of detailed data in this approach. Agents participate in events and can affect some resources. They can be an individual or organization inside or outside the organization that is capable of controlling economic resources and interacting with other agents. The objective of this work is to offer an understandable of this framework and to explain how this model can help us via the identification of the afferent concepts.REA ontology, accounting information systems, business process, economic exchange

The Role of Ontologies for Designing Accounting Information Systems

The accounting ontologies were conceptualized as a framework for building accounting information systems in a shared data environment, within enterprises or between different enterprises. The model’s base feature was an object pattern consisting of two mirror-image that represented conceptual the input and output components of a business process. The REA acronym derives from that pattern’s structure, whichconsisted of economic resources, economic events, and economic agents. The REA model was proposed as a means for an organization to capture the signification of economic exchanges between two business partners. The REA ontology provides an alternative for modelling an enterprise’s economic resources, economic events, economic agents, andtheir relationships. Resources are considerate organization assets that are able to generate revenue for implicated parties. Events provide a source of detailed data in this approach. Agents participate in events and can affect some resources. They can be anindividual or organization inside or outside the organization that is capable of controlling economic resources and interacting with other agents. The objective of this work is to offer an understandable of this framework and to explain how this model can help us via the identification of the afferent concepts

An Ontological Account of the Action Theory of Economic Exchanges

In recent years, there has been an increasing interest in thedevelopment of ontologically well-founded conceptual models for Information Systems in areas such as Service Management, Accounting Information Systems and Financial Reporting. Economic exchanges are central phenomena in these areas. For this reason, they occupy a prominent position in modelling frameworks such as the REA (Resource-EventAction) ISO Standard as well as the FIBO (Financial Industry BusinessOntology). In this paper, we begin a well-founded ontological analysisof economic exchanges inspired by a recent ontological view on the nature of economic transactions. According to this view, what counts asan economic transaction is based on an agreement on the actions thatthe agents are committed to perform. The agreement is in turn based on convergent preferences about the course of action to bring about. This view enables a unified treatment of economic exchanges, regardless the object of the transaction, and complies with the view that all economictransactions are about services. In this paper, we start developing our analysis in the framework of the Unified Foundational Ontology (UFO)

REA2: A unified formalisation of the Resource-Event-Agent Ontology

Through a proof of concept in SWI-Prolog, this paper demonstrates a business transaction model by which the trading partners can derive their own, personal perspective from shared data. The demonstration is an innovative formalisation of the Resource-Event-Agent (REA) ontology as it allows for switching viewpoints in real-time between one trading-partner’s perspective and that of a trading-partner with an opposing view (i.e. customer or supplier), or a trading-partner independent perspective (e.g. trusted third-party). The business transaction model is achieved by uniting REA with the Open-EDI Business Transaction Ontology (OeBTO). The resulting unified formalisation of the REA ontology (REA2) also highlights implications for the future development of a) enterprise information systems (EIS) in the cloud, b) social-mediabased EIS, c) blockchain EIS, and d) EIS interoperability across business paradigms. The EIS interoperability such as between traditional EIS (which typically uses a tradingpartner perspective), and EIS for the collaborative economy (which typically uses a trading-partner independent perspective) is particularly highlighted as it becomes much more transparent than previously