Towards ontological convergence of accounting frameworks

Ivars Blums; Hans Weigand

Towards ontological convergence of accounting frameworks

Ivars Blums
, Hans Weigand

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

Abstract

Converging and matching frameworks, standards, and ontologies is crucial for achieving semantic interoperability, integration, and alignment of information across different systems and domains. The corporate reporting domain, like many others, is governed by a complex array of accounting, financial reporting, and sustainability standards. This paper presents a novel approach to addressing the convergence challenge between the IFRS and US GAAP Conceptual Frameworks for Financial Reporting by grounding them in UFO-based upper ontologies. A converged ontology is developed and modeled in OntoUML, with the resulting converged concepts defined and discussed

Original language	English
Title of host publication	Companion Proceedings of the 17th IFIP WG 8.1 Working Conference on the Practice of Enterprise Modeling Forum
Editors	Simon Hacks, Ben Roelens
Number of pages	15
Publication status	Published - Dec 2024
Event	Int Conference Practice of Enterprise Modeling - Stockholm, Sweden Duration: 3 Dec 2024 → 5 Dec 2024 https://poem2024.dsv.su.se/

Conference

Conference	Int Conference Practice of Enterprise Modeling
Abbreviated title	PoEM
Country/Territory	Sweden
City	Stockholm
Period	3/12/24 → 5/12/24
Internet address	https://poem2024.dsv.su.se/

Keywords

ontology
Accounting
IFRS
US GAAP
conceptual framework
UFO
ontoUML
COFRIS
convergence

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https://ceur-ws.org/Vol-3855/forum1.pdfLicence: Unspecified

Cite this

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title = "Towards ontological convergence of accounting frameworks",

abstract = "Converging and matching frameworks, standards, and ontologies is crucial for achieving semantic interoperability, integration, and alignment of information across different systems and domains. The corporate reporting domain, like many others, is governed by a complex array of accounting, financial reporting, and sustainability standards. This paper presents a novel approach to addressing the convergence challenge between the IFRS and US GAAP Conceptual Frameworks for Financial Reporting by grounding them in UFO-based upper ontologies. A converged ontology is developed and modeled in OntoUML, with the resulting converged concepts defined and discussed",

keywords = "ontology, Accounting, IFRS, US GAAP, conceptual framework, UFO, ontoUML, COFRIS, convergence",

author = "Ivars Blums and Hans Weigand",

year = "2024",

month = dec,

language = "English",

editor = "Simon Hacks and Ben Roelens",

booktitle = "Companion Proceedings of the 17th IFIP WG 8.1 Working Conference on the Practice of Enterprise Modeling Forum",

note = "Int Conference Practice of Enterprise Modeling, PoEM ; Conference date: 03-12-2024 Through 05-12-2024",

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AU - Blums, Ivars

AU - Weigand, Hans

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AB - Converging and matching frameworks, standards, and ontologies is crucial for achieving semantic interoperability, integration, and alignment of information across different systems and domains. The corporate reporting domain, like many others, is governed by a complex array of accounting, financial reporting, and sustainability standards. This paper presents a novel approach to addressing the convergence challenge between the IFRS and US GAAP Conceptual Frameworks for Financial Reporting by grounding them in UFO-based upper ontologies. A converged ontology is developed and modeled in OntoUML, with the resulting converged concepts defined and discussed

KW - ontology

KW - Accounting

KW - IFRS

KW - US GAAP

KW - conceptual framework

KW - UFO

KW - ontoUML

KW - COFRIS

KW - convergence

M3 - Conference contribution

BT - Companion Proceedings of the 17th IFIP WG 8.1 Working Conference on the Practice of Enterprise Modeling Forum

A2 - Hacks, Simon

A2 - Roelens, Ben

T2 - Int Conference Practice of Enterprise Modeling

Y2 - 3 December 2024 through 5 December 2024

ER -

Towards ontological convergence of accounting frameworks

Abstract

Conference

Keywords

Access to Document

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Cite this