Linking Knowledge to Accounting Transactions: A Database Approach

18 Pages Posted: 14 Jan 2008

See all articles by Robert Biscontri

Robert Biscontri

University of Manitoba - Asper School of Business

Date Written: December 1, 2007


The REA model was first developed McCarthy (1982) as a way to model business events rather than recording accounting transactions simply for financial statement preparation. Since its development it has been expanded to reflect different types of resources, events and agents, as well as adaptations allowing the models to cater for commitments, and instigation events (Geerts and McCarthy, 2003). In order to better serve business decision making, systems need to collect information pertaining to unstructured, non-event based activities and link these to accounting events. The transaction knowledge model presented here allows knowledge related to accounting transactions to be linked to events, in particular, to events in an REA based system. This approach also allows a temporal dimension to be included in the analysis of these activities by collecting information pertaining to business events at different temporal moments as well as under various business conditions, recorded though the eyes of different stakeholders at various stages in a transaction lifecycle. The model also allows for easy integration into existing REA based models and is scalability based on integration rather than design.

Keywords: knowledge base, transaction systems, REA

JEL Classification: M40, M46

Suggested Citation

Biscontri, Robert, Linking Knowledge to Accounting Transactions: A Database Approach (December 1, 2007). (CAAA) 2008 Annual Conference Paper. Available at SSRN: or

Robert Biscontri (Contact Author)

University of Manitoba - Asper School of Business ( email )

181 Freedman Crescent
Winnipeg, Manitoba R3T 5V4
+1 204 962 2901 (Phone)

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