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Towards REA Ontology Based Ledger for Small and Medium Enterprise Information Systems Towards REA Ontology Based Ledger for Small and Medium Enterprise.

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Presentation on theme: "Towards REA Ontology Based Ledger for Small and Medium Enterprise Information Systems Towards REA Ontology Based Ledger for Small and Medium Enterprise."— Presentation transcript:

1 Towards REA Ontology Based Ledger for Small and Medium Enterprise Information Systems Towards REA Ontology Based Ledger for Small and Medium Enterprise Information Systems (SMEIS) VMBO th International Workshop on Value Modeling and Business Ontologies Ivars Blūms, Odo SIA, LatviaSMEIS) (updated )

2 «And forgive us our debts, as we forgive our debtors» Matthew 6:12

3 SMEIS data model ExistingProposed Document oriented tables (300+ tables, columns) REA/Ledger (1 table, 100- columns conceptualized and orthogonalized) Processing oriented registers (10) G/L→ Reference data (100) REA/Ledger Reference data Derived data Metadata Constraints Alerts Data Warehouses Customizations Code (3+ million lines)Code

4 How to encourage REA Ontology based SMEIS development 1.To demonstrate the adequacy of REA ontology to model most practical situations 2.To provide implementation compromises to allow for traditional accounting methods 3.To demonstrate the method of developing a practical system using technology that allows use REA Ontology as a core with easy possibility of expanding 4.Previous method should cover both: standalone and interface to the existing EIS.

5 Recent database technologies a.Easier metadata manipulation b.Advanced OLAP c.Sparse columns d.Hierarchical ids e.Easier O/R mapping techniques

6 What actually occurred What could be or should be RtypeEtypeAtype Resource EventAgent Color-coded time expansion. From William McCarthy, Rainer Schuster, Thomas Motal. Modeling Multi-party Collaborations in e³value and REA. VMBO2009. What is planned or scheduled CommitEvent Rtype Etype Atype

7 REA objects in the proposed Ledger

8 Commitments, Events, Policies in the proposed Ledger Legend PPolicy - types, id and values fixed at the policy level CCommitment - types, id and values required for commitment EEconomic Event - types, id and values required for economic event XExchanged (Balanced) CConversioned FFulfilled idIdentifier b. idBatch identifier lnLine number IIncrement Commitment/Event DDecrement Commitment/Event

9 Conclusions 1.A real SMEIS or interface can be built using REA ontology and be usable for general users and accountants 2.SMEIS transactions could be represented in the proposed Ledger with direct relation to accounting and REA ontology 3.Existing system tables and attributes could be represented in REA ontology, thus conceptualizing and orthogonalizing them 4.Types are important part of Event information and unify Policy, Commitment and Event level structures 5.Dualities and Fulfillments are modeled as separate objects with their identifiers and types 6.One Event/Commitment is modeled as simultaneously taking part in Exchange and Conversion 7.Exchange object is analogue of Accounting Journal object 8.Conversion object is analogue of Accounting Batch/PPE/Period objects 9.Conversion type is analogue of Accounting Account object

10 Future work 1. Create prototype 2. Improve inference mechanisms 3. Define valuation and other methods 4. Elaborate event and other object hierarchies 5. Cover more policy rules 6. Develop visualization patterns 7. Incorporate workflow


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