Recording Basic Economic Activity

The ValueFlows vocabulary is based on the REA ontology (Resources, Events and Agents) the ISO Accounting and Economic Ontology, which was evolved for that purpose. (See Appendix for links.)

Since all the data is recorded as the economic activity happens and is represented in its most basic form, you can get separate accounting views for: a network, each group in the network, each project, each individual. In other words, people in the network log events as they occur and the accounting Just Happens.

All of the views can emerge from subsets of the same data. Any standard (or non-standard) accounting report can be created.

Or potentially, views for a global value system economy (really).

Accounting as in Accountability...

  • from peers to each other
  • from members to a network
  • from a network to the members
  • from one network to another
  • from a network to the community
  • from a network to the ecosystem

Accounting isn't always just counting beans. It will be important for community economies: what resources do we have, what happened with them, how are they doing? What resources do we need? Who needs what? Who can provide what?

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