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EFRAG establishes Advisory Panel on the Role of the Business Model in Financial Reporting

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

16 Dec 2010

A project on the role of the business model in financial reporting has commenced as part of the pro-active work of the European Financial Reporting Advisory Group (EFRAG).

The aim of the project is to provide European input to the future consideration, development and use of the business model concept in financial reporting. The project is being led by EFRAG and supported by the standardsetters from the UK (ASB) and France (ANC). As part of the arrangements for the project, a pan-European advisory panel is being established to support the work, and EFRAG is now seeking nominations for membership of that panel.

The objective of the project is to investigate the possible role of the business model concept within financial reporting. This investigation will include an assessment of the implications of the business model on recognition, measurement, presentation, disclosure and performance reporting within the wider financial report. The project aims to provide European input into the IASB's future consideration, development and use of the business model concept in financial reporting.

Please click for EFRAG press release for further details (link to EFRAG website).

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