Financial reporting by a shared ledger

Ivar Blums, Hans Weigand

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

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 languageEnglish
Title of host publicationProceedings of the Joint Ontology Workshops (JOWO 2017)
EditorsStefano Borgo, Oliver Kutz, Frank Loebe, Fabian Neuhaus
Place of PublicationBozen-Bolzano
PublisherCEUR
Number of pages12
Volume2050
Publication statusPublished - 2017

Keywords

  • UFO
  • REA
  • IASB
  • IFRS
  • COFRIS
  • Shared ledger

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