REDEFINING FINANCIAL REPORTING WITH BUSINESS MODEL DISCLOSURES
Keywords:
business model, financial reporting, transparency, social accountability, stakeholders, strategic orientationAbstract
The reliability and quality of financial reporting can be improved by considering the concept of
business model (BM) in financial statements. This paper presents a conceptual framework of BM disclosure
by exploring how six key themes - transparency and narrative, social accountability, users, key drivers, justice
and fairness in reporting, and presentation and disclosure - can be integrated into financial statements to
enhance their information content. Qualitative research was conducted with 23 academic and executive
experts in the field of financial reporting and business, and thematic analysis was used for data analysis. The
study identifies the definitions and applications of BM in financial reporting, and its relationship with
stakeholders. The results show that the application of BM can improve strategic orientation, organizational
business, and management. Additionally, the BM concept can compensate for the losses resulting from a lack
of trust in financial statements. Overall, this paper provides insights into the potential use of BM to improve
the reliability and quality of financial reporting and contributes to the current literature on the subject.
