Banking

A Property Driven Approach Towards Creating an Adaptive REA Framework

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Executive Summary

Since it was introduced 25 years ago, the Resource Event Agent model has gained attention as a promising proposal for a universal model of economic phenomena in enterprises. While being flexible and generic, the informal nature of the REA ontology leaves important issues open for interpretation, resulting in rather heterogeneous business models and implementations. The authors propose a generic meta-model of event-driven systems in general and REA in particular, that preserves flexibility, allowing heterogeneity through loosely coupled properties. This paper describes an implementation inspired by the Active Object Model combined with a Property-driven approach. Thus allowing the addition of not only entity types, groupings and business rules, but also new relations and attributes of entities to data of running systems.

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