Financial domain
A financial domain is a specific area of consumer finance that can be isolated, researched, developed, analyzed, and modeled independent of other domains, a process known as compartmentalization (computer science) or functional decomposition.
A possible schema includes the following primary financial domains (headings) and sub-division (rows) include:
Investment |
Real Estate |
Debt |
Taxes |
Client |
Insurances |
Defined Benefits |
|---|---|---|---|---|---|---|
Non-retirement |
Residential |
Mortgage |
Federal |
Income |
Life |
Social Security |
401K |
Vacation |
Credit Card |
State specific |
Essential Expenses |
Health |
Private pensions |
SEP |
Rental Property |
Education |
- |
Discretionary Exp |
Disability |
- |
IRA |
- |
- |
- |
- |
Long term Care |
- |
403b |
- |
- |
- |
- |
- |
- |
Roth |
- |
- |
- |
- |
- |
- |
Domains can be formally characterized using class (computer science) representation. Each domain is codified by its unique set of attributes and stochastic or deterministic described behaviors. A financial domain thus described becomes a component that can be modeled.
Assisted by the use of Unified Modeling Language, the synthesis of the independent domain classes and sub-classes (i.e. modeled components) comprises an important substrate of a financial decision support architecture.