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The Business Model as a Determinant of Financial Statements

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Świderska G. K., Borowski S., Kariozen M.
Journal of Management and Financial Sciences
|
2014
|
vol. 17(3)
11-28
EN
The future of a business organization depends on its business model and which factors and resources are involved; they determine the profitability and the way of creating value. The financial statements present the financial consequences of the entity’s activities, which are determined by the business model. The aim of this article is to answer the question as to what extent the entity’s business model should be considered for the recognition, measure‑ ment and disclosure (presentation) of information in financial statements? The first part of this article presents the current scope of the use of the business model concept in financial reporting and the results of research conducted by the European Financial Reporting Advisory Group (EFRAG) regarding the possible implementation of the business model concept to the IFRSIFRS Conceptual Framework and the impact of this approach on the quality characteristics of financial statements. The second part of the article presents the use of information about the entity’s business model to improve the content of financial statements.
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