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Posts: 116
2 weeks ago
Describe the rules that are necessary to correctly draw an integrated REA diagram.
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Accounting Information Systems
Edition: 14th
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2 weeks ago
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A correctly drawn, integrated REA diagram must satisfy these six rules: 1. Every event must be linked to at least one resource. 2. Every event must be linked to two agents who participate in that event. 3. Every event that involves the disposition of a resource must be linked to an event that involves the acquisition of a resource. (This reflects the economic duality underlying "give to-get" economic exchanges.) 4. Every resource must be linked to at least one event that increments that resource and to at least one event that decrements that resource. 5. If event A can be linked to more than one other event, but cannot be linked simultaneously to all of those other events, then the REA diagram should show that event A is linked to a minimum of 0 of each of those other events. 6. If an event can be linked to any one of a set of agents, but cannot be simultaneously linked to all those agents, then the REA diagram should show that event is linked to a minimum of 0 of each of those agents.
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