The Financial Industry Business Ontology (FIBO) defines the sets of things that are of interest in financial business applications and the ways that those things can relate to one another. In this way, FIBO can give meaning to any data (e.g., spreadsheets, relational databases, XML documents) that describe the business of finance.
Income is essentially an accounting term, but we need in FIBO it as the basis for determining, for example, borrower's monthly income as related to a loan. It is currently floating in the class hierarchy, with some relationship to monetary amount and for the purposes of FIBO should simply be a subclass of monetary amount (since it includes cash and cash equivalents).
Income is essentially an accounting term, but we need in FIBO it as the basis for determining, for example, borrower's monthly income as related to a loan. It is currently floating in the class hierarchy, with some relationship to monetary amount and for the purposes of FIBO should simply be a subclass of monetary amount (since it includes cash and cash equivalents).