System and method for real-time activity-based accounting

US7685029B2 · kind B2 · utility

Assignee

• Invensys Systems, Inc. · US

Inventors

• Peter Martin · Gilbert, US
• Janet Lee Casler · Newton, US

Key dates

• Filing date: Apr 11, 2002
• Grant date: Mar 23, 2010
• Expiry date: Apr 28, 2025

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/12
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

An accounting method and system is disclosed that provides for real time financial accounting of plant performance at a sub-plant level. A multiplicity of process variable transmitters is utilized to sense, in real time, the current state of the processes and process equipment used in a manufacturing plant. Sub-plant accounting modules utilize the sensed process data to calculate a plurality of sub-plant accounting measures, which are stored in one or more real time plant historian. The accounting measures are typically converted to a suitable format and subsequently stored in a production model accounting database where they are accessible to an accounting module.