An Ontological Model for Accounting Information Systems

This research proposes an ontological model for accounting information systems (AIS) based on the Bunge-Wand-Weber (BWW) modeling constructs. The proposed model is derived from the Resource-Event-Agent (REA) accounting model. REA is a well-known model for AIS and has recently been proposed as an AIS domain ontology. REA is grounded on event-based accounting theories and its sound underlying concepts make it a strong candidate as a domain ontology. However, there are several deficiencies in the current representational scheme used in REA that limit its value as a domain ontology. First the use of entity relationship modeling constructs has resulted in a lack of precision and completeness in the current model. The current model also fails to capture the dynamic aspects of the domain. Finally the current model lacks the ability to represent the different levels of abstraction required to capture the requirements of as complex a domain as accounting information systems. This research argues that the above deficiencies can be addressed through application of the BWW-based modeling constructs and presents an ontological model for the domain of AIS where the above mentioned deficiencies are addressed.