A computerized accounting system implemented using object-oriented programming techniques which permits construction of user-defined accounting or other business frameworks without modifying or recompiling the program code. A graphic user interface (GUI) is provided which enables a user to interact with the system to accomplish all required tasks, including designing and constructing the business framework, as well as inputting and processing data using the designed framework. The system supports modular design of complex frameworks. It also allows the user to specify changes in business rules within a framework and tracks the changes over time.