Financial reporting by a shared ledger

Ivar Blums; Hans Weigand

Financial reporting by a shared ledger

Ivar Blums, Hans Weigand

Information Systems & Oper. Mgt.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Scientific › peer-review

2 Citations (Scopus)

Abstract

Among models and information about economic phenomena which help
to understand how enterprises produce value, Accounting and Financial Reporting
still play a leading and regulative role. The regulative role is established by
enforceable International Financial Reporting Standards (IFRS). Ontology
engineering methods, which have proven to cope with difficult standardization
issues, are seldom used in developing the abovementioned standards. Furthermore, the standard setting should more increasingly account for the influence of advanced information technologies for capturing and reporting financial information, such as [blockchain-based] shared ledgers and data analytics. This paper proposes an initial version of the Core Ontology of Financial Reporting Information Systems for a Shared Ledger Environment (COFRIS) grounded on the Unified Foundational Ontology (UFO) network, and a preliminary analysis of the IFRS.

Original language	English
Title of host publication	Proceedings of the Joint Ontology Workshops (JOWO 2017)
Editors	Stefano Borgo, Oliver Kutz, Frank Loebe, Fabian Neuhaus
Place of Publication	Bozen-Bolzano
Publisher	CEUR
Number of pages	12
Volume	2050
Publication status	Published - 2017

Keywords

UFO
REA
IASB
IFRS
COFRIS
Shared ledger

Access to Document

http://ceur-ws.org/Vol-2050/FOMI_paper_8.pdf

Cite this

@inproceedings{8d8dc15e13a6442289822445ff7f0fe6,

title = "Financial reporting by a shared ledger",

abstract = "Among models and information about economic phenomena which helpto understand how enterprises produce value, Accounting and Financial Reportingstill play a leading and regulative role. The regulative role is established byenforceable International Financial Reporting Standards (IFRS). Ontologyengineering methods, which have proven to cope with difficult standardizationissues, are seldom used in developing the abovementioned standards. Furthermore, the standard setting should more increasingly account for the influence of advanced information technologies for capturing and reporting financial information, such as [blockchain-based] shared ledgers and data analytics. This paper proposes an initial version of the Core Ontology of Financial Reporting Information Systems for a Shared Ledger Environment (COFRIS) grounded on the Unified Foundational Ontology (UFO) network, and a preliminary analysis of the IFRS.",

keywords = "UFO, REA, IASB, IFRS, COFRIS, Shared ledger",

author = "Ivar Blums and Hans Weigand",

year = "2017",

language = "English",

volume = "2050",

editor = "Stefano Borgo and Oliver Kutz and Frank Loebe and Fabian Neuhaus",

booktitle = "Proceedings of the Joint Ontology Workshops (JOWO 2017)",

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TY - GEN

T1 - Financial reporting by a shared ledger

AU - Blums, Ivar

AU - Weigand, Hans

PY - 2017

Y1 - 2017

N2 - Among models and information about economic phenomena which helpto understand how enterprises produce value, Accounting and Financial Reportingstill play a leading and regulative role. The regulative role is established byenforceable International Financial Reporting Standards (IFRS). Ontologyengineering methods, which have proven to cope with difficult standardizationissues, are seldom used in developing the abovementioned standards. Furthermore, the standard setting should more increasingly account for the influence of advanced information technologies for capturing and reporting financial information, such as [blockchain-based] shared ledgers and data analytics. This paper proposes an initial version of the Core Ontology of Financial Reporting Information Systems for a Shared Ledger Environment (COFRIS) grounded on the Unified Foundational Ontology (UFO) network, and a preliminary analysis of the IFRS.

AB - Among models and information about economic phenomena which helpto understand how enterprises produce value, Accounting and Financial Reportingstill play a leading and regulative role. The regulative role is established byenforceable International Financial Reporting Standards (IFRS). Ontologyengineering methods, which have proven to cope with difficult standardizationissues, are seldom used in developing the abovementioned standards. Furthermore, the standard setting should more increasingly account for the influence of advanced information technologies for capturing and reporting financial information, such as [blockchain-based] shared ledgers and data analytics. This paper proposes an initial version of the Core Ontology of Financial Reporting Information Systems for a Shared Ledger Environment (COFRIS) grounded on the Unified Foundational Ontology (UFO) network, and a preliminary analysis of the IFRS.

KW - UFO

KW - REA

KW - IASB

KW - IFRS

KW - COFRIS

KW - Shared ledger

M3 - Conference contribution

VL - 2050

BT - Proceedings of the Joint Ontology Workshops (JOWO 2017)

A2 - Borgo, Stefano

A2 - Kutz, Oliver

A2 - Loebe, Frank

A2 - Neuhaus, Fabian

PB - CEUR

CY - Bozen-Bolzano

ER -

Financial reporting by a shared ledger

Abstract

Keywords

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