Reading review problem. Beta Alpha Psi ( www.bap.org ) is the international honor society for students and professionals in accounting, finance, and information systems. According to its Web site:
The primary objective of Beta Alpha Psi is to encourage and give recognition to scholastic and professional excellence in the business information field. This includes promoting the study and practice of accounting, finance and information systems; providing opportunities for self-development, service and association among members and practicing professionals, and encouraging a sense of ethical, social, and public responsibility.
Each BAY chapter is required to complete certain activities each year; they also may earn extra recognition and rewards by going beyond the minimums specified by the national office. Events include things like meet the firms, professional speaker meetings, community service projects, and national and regional meetings. Each BAY chapter tracks its members’ participation in the various events, reporting periodically to the national office via BAY’s reporting intranet.
As you can tell, the information needs of a typical BAY chapter go far beyond general purpose financial statements. To facilitate information gathering and decision making, a BAY chapter might choose to develop a REA model as the basis for an event-driven accounting information system.
1. What is a REA model? How are REA models used in accounting information systems?
2. What are cardinalities? How are they incorporated in a REA model?
3. Every BAY chapter has multiple members; each member must participate in multiple activities. Explain how you would show that relationship in both a REA model and in a relational database.
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