An executable axiomatization of the REA2 ontology
(2020) , 61 pages
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- Abstract
- The operationalized formalization of the REA2 ontology presented in this paper is expected to offer both centralized and decentralized information systems a minimal set of operationalized semantics to agree on a single white-box model of the world of business in a format that is relevant to all stakeholders independent of their role or involvement in economic activities. This executable version of the REA2 ontology is built using the MERODE methodology, which guarantees coherence between class and state diagrams. MERLIN (i.e. a MERODE-based CASE tool ) supports generating Java code from conceptual diagrams. In this paper, this Java code has been used to validate the operationalized axioms by modeling an archetypal exchange scenario. This paper’s theoretical innovation is the use of MERODE’s existence dependency and event propagation constructs to model increment and decrement semantics as fundamental stand-alone concepts that simultaneously affect economic resources, event, agents and the semantics of the stock-flow, participation and ownership associations between them. The technological innovation of this paper is the formalization of the REA axioms as executable finite state machines. In the future, both of these innovations are believed to contribute to the reliability of a generic semantic technology for both the finance and logistics domain in both the traditional and the sharing economy. As such it is expected to promote both traceability and accountability in value networks and supply chains supported by both centralized and decentralized ledger technologies.
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Laurier, W., Horiuchi, S., & Snoeck, M. (2020). An executable axiomatization of the REA2 ontology.