@As Designed Deliverable
Resource-Event-Agent (REA) Model
Description
Model of how an accounting system can be re-engineered for the computer age. REA was originally proposed in 1982 by William E. McCarthy as a generalized accounting model, and contained the concepts of resources, events and agents (McCarthy 1982).
REA is a popular model in teaching accounting information systems (AIS), but it is rare in business practice. Most companies cannot easily dismantle their legacy data warehouse systems or are unwilling to do so. Workday, Inc., IBM Scalable Architecture for Financial Reporting, REATechnology, and ISO 15944-4 are exceptions.[1] Fallon and Polovina (2013) have however shown how REA can also add value when modelling current ERP business processes by providing a tool which increases the understanding of the implementation and underlying data model.
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