Conceptual framework — Use of 'business model'

Date recorded:

The discussion started with how the business model should be considered in the standard setting.  The general feeling was that it is useful in some instances and it has been used by the Board in the past (e.g. insurance), but it also has some limitations.

The biggest part of the discussion, however, was around whether the term ‘business model’ should be defined in the Conceptual Framework. Some Board members thought that it would useful to provide a definition; others felt that the definition would not be of much value in the context of the Conceptual Framework.

The Board decided not to define the ‘business model’.

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