A financial reporting ontology for market, exchange, and enterprise shared information systems

Ivar Blums, Hans Weigand

Research output: Chapter in Book/Report/Conference proceedingConference contributionScientificpeer-review

Abstract

Enterprises operate in markets by building and fulfilling exchange relationships. However, up to date accounting information systems are organized in an enterprise-specific way. We introduce the Market Information perspective on top of the Exchange (Shared Ledger) and Enterprise-Specific perspectives. The latter, developed earlier, are enhanced and the interplay with the Market perspective elaborated. First, we analyze how are Market related concepts of Offering, Contract, Resource, and Social Interaction represented in UFO ontologies and other ontologies. Second, we propose a Market perspective, and included Exchange, and Enterprise perspective conceptual model of a Shared Information System for Financial Reporting in OntoUML language, and third, we analyze the International Accounting Standards Board (IASB) Conceptual Framework and Standards for Financial Reporting to uncover construct deficit and overload in these Standards and Framework for usage in Shared Information Systems.
Original languageEnglish
Title of host publicationProceedings of the 12th IFIP Working Conference, PoEM 2019
Subtitle of host publicationThe Practice of Enterprise Modeling
EditorsJ. Gordijn, W. Guédria, H.A. Proper
Place of PublicationCham
PublisherSpringer Verlag
Pages83-99
ISBN (Print)9783030351502
DOIs
Publication statusPublished - 2019

Publication series

NameLecture Notes in Business Information Processing
Volume369

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Keywords

  • accounting ontology
  • IFRS
  • UFO
  • COFRIS
  • Conceptual model

Cite this

Blums, I., & Weigand, H. (2019). A financial reporting ontology for market, exchange, and enterprise shared information systems. In J. Gordijn, W. Guédria, & H. A. Proper (Eds.), Proceedings of the 12th IFIP Working Conference, PoEM 2019: The Practice of Enterprise Modeling (pp. 83-99). (Lecture Notes in Business Information Processing; Vol. 369). Cham: Springer Verlag. https://doi.org/10.1007/978-3-030-35151-9_6