Financial reporting by a shared ledger
Blums,Ivar Weigand,Hans
Blums,Ivar
Weigand,Hans
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.
Description
Date
2017
Journal Title
Journal ISSN
Volume Title
Publisher
CEUR
Research Projects
Organizational Units
Journal Issue
Keywords
UFO, REA, IASB, IFRS, COFRIS, Shared ledger
Citation
Blums, I & Weigand, H 2017, Financial reporting by a shared ledger. in S Borgo, O Kutz, F Loebe & F Neuhaus (eds), Proceedings of the Joint Ontology Workshops (JOWO 2017). vol. 2050, 8, CEUR, Bozen-Bolzano. < http://ceur-ws.org/Vol-2050/FOMI_paper_8.pdf >
License
info:eu-repo/semantics/openAccess