Since REA Databases Do Not Employ Journals and Ledgers,how Can

question 43

Essay

Since REA databases do not employ journals and ledgers,how can they support financial statement reporting?

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Definitions:

Public Keys

Part of a cryptographic system used in digital communication that allows users to securely exchange data over an insecure network.

Private Keys

Cryptographic keys used in public-private key encryption schemes that are kept secret and used to decrypt information or digitally sign data.

B2B Payments

Transactions between businesses for the goods or services provided, as opposed to transactions involving consumers.

Electronic Version

A digital format of a document, book, or any piece of information, accessible through electronic devices.