The Conceptual Framework for Financial Reporting as an Upper Domain Ontology for Financial Reporting
Description
The Conceptual Framework for Financial Reporting (CFfFR) was developed to guide the preparation and use of financial reports. The stated goals of the CFfFR are ambitious and general consensus is that the CFfFR fails to achieve the stated purpose. We embarked on an interpretive research study to understand the role, position, content and usage of the CFfFR for the accounting discipline. We propose that the CFfFR should be an upper domain ontology for financial reporting, and that this position would determine the content contained in the CFfFR. The contributions of this paper are a model hierarchy to depict the role of a CFfFR as an upper domain ontology, a model to depicting the decision process used as background to the CFfFR and a first version CFfFR ontology. These contributions are of value to researchers and practitioners within accounting using the CFfFR to support decisions regarding financial reporting.
Recommended Citation
Gerber, Aurona; Gerber, Marthinus; and van der Merwe, Alta, "The Conceptual Framework for Financial Reporting as an Upper Domain Ontology for Financial Reporting" (2015). AMCIS 2015 Proceedings. 4.
https://aisel.aisnet.org/amcis2015/AccountingIS/GeneralPresentations/4
The Conceptual Framework for Financial Reporting as an Upper Domain Ontology for Financial Reporting
The Conceptual Framework for Financial Reporting (CFfFR) was developed to guide the preparation and use of financial reports. The stated goals of the CFfFR are ambitious and general consensus is that the CFfFR fails to achieve the stated purpose. We embarked on an interpretive research study to understand the role, position, content and usage of the CFfFR for the accounting discipline. We propose that the CFfFR should be an upper domain ontology for financial reporting, and that this position would determine the content contained in the CFfFR. The contributions of this paper are a model hierarchy to depict the role of a CFfFR as an upper domain ontology, a model to depicting the decision process used as background to the CFfFR and a first version CFfFR ontology. These contributions are of value to researchers and practitioners within accounting using the CFfFR to support decisions regarding financial reporting.