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Read Woolley, D. (2012) A teaching case for understanding the data structure of an accounting database:...

Read Woolley, D. (2012) A teaching case for understanding the data structure of an accounting database: Comparing a commercial system to an REA. Journal of the International Academy for Case Studies, 15(1), 25 -29.

What are the strengths and weaknesses of the REA Model when compared to a commercial system?

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Answer #1

Strength of REA model are as follows :

1)Commercial system tends to focus more on economic event but REA model focuses on non economical activities also.

2)Helps management to identify non value added activities.

3)Provides more timely information and relevent information to management.

4)Helpful in storing both financial and non financial data for the user and reduce duplication of data and also reduces maintenance cost.

Weakness of REA model are as follows:

1)REA model only uses operating activities.

2)Commercial system more focuses on the

a) Operating activities

b) Information events

c)Decision events

3) Depends on commercial system for information.

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