Financial domain
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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 Encapsulation (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.
