Developing ontology-based EPA for representing accounting principles in a reusable knowledge component

Chi-Chun Chou, Yu-Liang Chi

Research output: Contribution to journalArticlepeer-review


This study proposed an ontological EPA model (Event, Principle and Account) for describing accounting principles using a reusable knowledge component. The essential characteristics of the model include: (1) based on traditional accounting definitions for typical accounts ( A ) and business events ( E ), where the ontological properties of  A  and  E  can be identified. These characteristics can be further used to create a knowledge hierarchy for both  A  and  E ; (2) identifies the element  P  (accounting principle), which in turn can be used to measure the economic effects of events on accounts; (3) creates a relationship between  E P , which identifies how to adopt suitable principles for classifying events; and (4) the inferential ( E P )– A  relationship, which identifies the effect of a classified event on resources (or accounts). Following typical knowledge engineering processes, hierarchical knowledge of accounting principles can be represented, stored and reused.  EPA  examples are demonstrated using OWL-based ontology. This study claims that the knowledge framework developed in  EPA can provide a basis for full accounting knowledge creation, storage and sharing.
Original languageAmerican English
JournalExpert Systems With Applications
StatePublished - Mar 2010


  • Accounting principle
  • EPA model
  • Knowledge framework
  • Ontology


  • Computer Sciences
  • Management Sciences and Quantitative Methods
  • Library and Information Science

Cite this