FND-364 - Income should be a child of monetary amount rather than have some oblique relationship with monetary amount

edmcouncil / fibo

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.

https://spec.edmcouncil.org/fibo/

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FND-364 - Income should be a child of monetary amount rather than have some oblique relationship with monetary amount #1758

Closed ElisaKendall closed 2 years ago

ElisaKendall commented 2 years ago

Signed-off-by: Elisa Kendall ekendall@thematix.com

Description

Modified accounting equity to make income a subclass of monetary amount and eliminate the oblique restriction on monetary amount to simplify its representation

Fixes: #1757 / FND-364

Checklist:

[x] I'm familiar with the FIBO developer quide. My contribution meets all the requirements described there.
[x] My contribution follows the principles of best practices for FIBO.
[x] My changes have been reconciled with latest master and no merge conflicts remain.
[x] This PR is related to exactly one issue. The issue is referenced by using a GitHub keyword such as "fixes", "closes", or "resolves".
[x] Hygiene tests have been applied by a PR with "(WIP)" in title.
[x] The issue has been tested locally using a reasoner (for ontology changes).

ElisaKendall commented 2 years ago

Not at all sure about this change - I don't think you could substitute an instance of Income wherever MonetaryAmount appears e.g. as the price of an equity.

That's not what this does - it says that Income is a subclass of MonetaryAmount, not that all MonetaryAmounts are income?

rivettp commented 2 years ago

I didn't say all MonetaryAmounts are Income. If Income is a subclass of MonetaryAmount, then any time an instance of MonetaryAmount is needed e.g. for a Price, then an instance of Income could be used. It seems hasIncome or hasAssessedIncome should be a property with range MonetaryAmount. As for hasIssuedCapital. The domain of the class could be BorrowerAssessment.

ElisaKendall commented 2 years ago

I didn't say all MonetaryAmounts are Income. If Income is a subclass of MonetaryAmount, then any time an instance of MonetaryAmount is needed e.g. for a Price, then an instance of Income could be used. It seems hasIncome or hasAssessedIncome should be a property with range MonetaryAmount. As for hasIssuedCapital. The domain of the class could be BorrowerAssessment.

But Income breaks down further - there are subclasses of it so making it a property does not work. There are different perspectives on this, and there may not be a single definition of income for accounting vs. for tax purposes, etc. What you are asking to do is a much bigger change and would eliminate a concept that has been in FIBO for many years. It is also qualified with a restriction that indicates the period of time for which the number is valid ... so it's not the same as a price. No one would make that error.