REA (Resources, Events, Agents)

This presentation discusses the REA (Resources, Events, Agents) model and how it can revolutionize business application development. It compares how a sales process is handled in a traditional business software application versus an REA application. The presentation notes that while some tasks are easy in traditional software, other important tasks like finding if an order has been paid are difficult. It argues that the REA model can help software designers identify unknown user requirements by considering the fundamental economic principles that all businesses follow. The presentation provides an overview of the key concepts of the REA model including its ontological foundations and axioms for modeling exchange processes. It provides an example REA model for a art gallery and its trading partners and sales process.