Resource Event Agent Ontology Research Articles

REA Modeling of Mining Companies

ABSTRACT: This research paper applies the resource-event-agent (REA) framework to model the unique patterns, in both the REA accountability and policy infrastructures, of the mining enterprise domain. A unique resource in this domain is the mineral resource (MinResc), and the acquisition and development of MinResc to prepare it for the mining conversion process requires a unique information acquisition event to create and expand an information resource entity. The physical mineral deposit entity set and the intangible information entity set are thus aggregated into a more abstract and more valuable MinResc resource. The aggregation of a physical resource and an intangible information resource into a more certain and more valuable physical resource is an extension of the REA ontology that has applications in enterprise domains outside of mining.

The READY Model: Patterns of Dynamic Behavior in REA-Based Accounting Applications

The Resource-Event-Agent (REA) model has gained considerable attention in accounting literature. While REA denotes a data model, which represents only the static aspect of a system, the dynamic aspect has now been introduced as the scenario concept in a recently proposed REA ontology. Using the Unified Modeling Language (UML) sequence diagram—a popular method of showing interactions among objects—and building on the REA framework and the scenario notion, the paper presents the READY model to illustrate patterns of dynamic behavior in accounting scenarios.