Finance:Financial domain

A financial domain is a specific area of consumer finance that can be isolated, researched, developed, analyzed, and modeled independently of other domains, a process known as encapsulation or functional decomposition.

A possible schema includes the following primary financial domains (headings) and subdivisions (rows):

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 behaviors. A financial domain thus described becomes a component that can be modeled.

Assisted by the use of Unified Modeling Language, creation of the independent domain classes and sub-classes (i.e., modeled components) is an important underpinning of a financial decision support architecture.