In December 2013, EFRAG, the French ANC and the UK FRC published a Research Paper The Role of the Business Model in Financial Statements.
The Research Paper was preceded by a Bulletin The Role of the Business Model in Financial Reporting, which was issued in June 2013 by EFRAG, the French ANC, the German ASCG, the UK FRC and the Italian OIC as part of a series of papers to promote discussion on topics related to the IFRS Conceptual Framework. The draft Research Paper served as an input for issuing the Bulletin.
The debate initiated by the Bulletin and the Research Paper has revealed strong support for having the business model play a role in financial statements. The debate has also shown that the issue raises nevertheless some controversy.
The feedback statement on the Research Paper presents a summary of the comments received from the respondents.