Authors: Walter S. A. Schwaiger
Tags: 2015, conceptual modeling
The REA accounting model developed by McCarthy conceptualizes the economic logic of the double-entry bookkeeping without referring to debits, credits and accounts. The conceptual core elements of the model are the economic resources, economic events and economic agents as well as the relationships that link the underlying stock flows according to the duality principle. In this paper the debit and credit notations are included as a meta concept to promote the model’s understanding within the traditional accounting logic. By specifying additional economic resource types in form of liabilities and equity the model is completed with respect to the essential balance sheet positions, so that the REA accounting model is ready for accounting applications.Read the full paper here: https://link-springer-com.proxy2.hec.ca/chapter/10.1007/978-3-319-25264-3_43
