@inproceedings{3e5c6114b94e4793b4dfb33dc15ca0f7,
title = "Toward ontology-guided IFRS standard-setting",
abstract = "This paper addresses the critical gap in the International Financial Reporting Standards (IFRS), widely adopted across 168 jurisdictions, which lack a formal and explicit shared conceptualization, leading to inconsistencies and challenges in financial report comparability. Despite being based on the Conceptual Framework for Financial Reporting (CF), discrepancies such as those between the concepts of transferability and control persist across different frameworks and standards. We propose a novel solution through the grounding of these concepts in the Unified Foundational Ontology (UFO), which has shown to improve framework coherence significantly. Leveraging this approach, we have developed, refined, and herein present the CF Ontology. Using CF Ontology, we conduct an ontological analysis of the IFRS Revenue from Contracts with Customers and introduce preliminary ontology model for this standard in OntoUML.",
keywords = "ontology, IFRS, Accounting, UFO, OntoUML, COFRIS, revenue, control",
author = "Ivars Blums and Hans Weigand",
year = "2024",
month = jun,
language = "English",
series = "Lecture Notes in Business Information Processing",
publisher = "Springer Nature",
pages = "73--81",
editor = "Shareeful Islam and Arnon Sturm",
booktitle = "Intelligent Information Systems",
address = "United States",
note = "Forum at Int. Conference on Advanced Information Systems Engineering, CAISE Forum ; Conference date: 03-06-2024 Through 07-06-2024",
url = "https://link.springer.com/chapter/10.1007/978-3-031-61000-4\_9",
}