What is it about?
The paper presents a minimal vocabulary for representing sales and purchases from the perspective of buyers, sellers and third parties (i.e. anyone that is not directly involved in the sale or purchase) at once.
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Why is it important?
The vocabulary allows for documenting the sales-data of the seller, the purchase-data of the buyer and that data relevant for third parties in a single data format. This is expected to facilitate data-sharing, information system interoperability, and support the development of one-version-of-the-truth accounting information systems (AIS) and enterprise resource planning (ERP) systems as they are currently being developed with blockchain technology.
Perspectives
This paper summarises 10 years of research on the REA ontology and presents my most elegant formalisation of its operational layer.
Wim Laurier
Universite Saint-Louis
Read the Original
This page is a summary of: REA2: A unified formalisation of the Resource-Event-Agent ontology, Applied Ontology, July 2018, IOS Press,
DOI: 10.3233/ao-180198.
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