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A key goal of the object-oriented approach is to decrease the "semantic gap" between the system and the real world, and to have the system be constructed using terminology that is almost the same as the stakeholders use in everyday business. Object-oriented modeling is an essential tool to facilitate this. Useful and stable abstraction
Resources, events, agents (REA) is a model of how an accounting system can be re-engineered for the computer age.REA was originally proposed in 1982 by William E. McCarthy as a generalized accounting model, [1] and contained the concepts of resources, events and agents (McCarthy 1982).
The above principles are incorporated into the Managerial Costing Conceptual Framework (MCCF) along with concepts and constraints to help govern the management accounting practice. The framework ends decades of confusion [1] surrounding management accounting approaches, tools and techniques and their capabilities.
The object-modeling technique (OMT) is an object modeling approach for software modeling and designing. It was developed around 1991 by Rumbaugh, Blaha, Premerlani, Eddy and Lorensen as a method to develop object-oriented systems and to support object-oriented programming. OMT describes object model or static structure of the system.
Accounting Principles Board Opinions, Interpretations and Recommendations were published by the Accounting Principles Board from 1962 to 1973. The board was created by American Institute of Certified Public Accountants (AICPA) in 1959 and was replaced by Financial Accounting Standards Board (FASB) in 1973.
The specific functions and principles followed can vary based on the industry. Management accounting principles in banking are specialized but do have some common fundamental concepts used whether the industry is manufacturing-based or service-oriented. For example, transfer pricing is a concept used in manufacturing but is also applied in banking.
Examples of nonauthoritative accounting guidance and literature include the following: [4] Practices that are widely recognized and prevalent either generally or in the industry; FASB Concepts Statements; American Institute of Certified Public Accountants (AICPA) Issues Papers
The following outline is provided as an overview of and topical guide to accounting: . Accounting – measurement, statement or provision of assurance about financial information primarily used by managers, investors, tax authorities and other decision makers to make resource allocation decisions within companies, organizations, and public agencies.