I was accidentally pulled in to the world of REA. I was evaluating the redesign of our major financial application. After deeply thinking the details of the business application dynamics, I started to group them under some basic overly simplified models and entities.
From there, I started to think that there should be somebody out there who faced the same situation and solved the same set of problems with a similar approach and hopefully more elegantly.
Then, I stopped evolving my model and started searching the literature and the Internet. I came across Fowler's book and I think it was great and I liked it so much, especially modelling the account and the relaed entries. But that was about it as far as the simplicity goes. It started to get a bit more complex as I started to get more patterns.
I started to do some more searches till I got to the REA, Resources- Events-Agents and that was it. I was blown away.
The model is so simple but powerful in capturing the most fundamental concepts in the accounting and business domain.
Unfortunately, I did not find enough resources (at this time) that examines the REA and its applications in detail till I found this wonderful book.
I really thank the author for his work.
So I think, REA model will change the business information modelling arena in the same way object oriented programming changed the programming world, and like design patterns impacted the design world.
I also predict that this book will be for the business application architecture community as the GoF book to the software designers community at large.