• Electrical Engineering (hardware) and computer science (software) = Information

systems (applications)
• Key steps
o Determine the event of accounting transaction
o Record transactions in a journal
o Post to the ledger and update balance
o Put all account balance to the trial balance
• Ex: Wholesale company needs to sell to retail
• Weaknesses of the traditional
o Late
o Not detailed enough.
• What has changed?
o Computer and data capacity is a lot cheaper.
o We can now do things that we couldn’t conceive
• Keys
o Capture data on-line in real-time
o Store each element (avoid aggregation)
• If I got “Events Database Model” do I need a Traditional Accounting Model?”
o No, I can get all that and more from the database

Quiz