An explaination of a model for voluntary disclosure of financial and non-financial information of business models

Despite the existing interest and increasing attention of standardizers and accounting researchers to the business model of companies, scientific research on this issue is in its early stages. Over the past decade, the disclosure of business model information has been considered by professional accounting institutions. At present, there is no specific requirement and framework for Iranian companies to report and disclose their business model information, and financial and non-financial information of the companies’ business model is being published incompletely in their annual reports. The purpose of this study is to propose a model for voluntary disclosure of financial and non-financial information of business models. The present study is application-oriented. The multi-dimensional structuring method was used to index the disclosure of financial and non-financial information of business models. To implement this method, three stages of index creation, scale development and scale evaluation were performed. Based on library studies and interviews with some experts, 36 indicators were identified in six dimensions. The statistical population of this study consisted of three groups: A) professors and academic experts, B) executive managers and auditors, and C) financial experts and analysts who were familiar with the concept of the business model and company information disclosure. Using the Cochran sampling method, a researcher-made questionnaire was provided to 286 experts and was used as the basis for analysis. Inferential tests were used to analyze the data. The Results of the binomial test showed that experts had much more consenting opinions than dissenting ones, and respondents have commented on the indicators with high confidence, and the validity of each indicator of voluntary disclosure of business model information Based on a single sample t-test was more than average. In addition, the results of Friedman test showed that among the proposed indicators, "business model canvas" and "non-financial value propositions in the business model" have not been as well received by experts as expected. Also, the economic consequences, the preparation of separate and consolidated profit and loss statements and the disclosure of key drivers of operating income of business models were of considerable importance. Considering that the proposed model in this study is based on the consensus of financial and business reporting experts and has been confirmed by accurate scientific methods, so the results of this study can underline the role, importance and rank of indicators of voluntary disclosure of financial and non-financial information. It is expected from managers and policy, executive, and regulatory agencies to adopt a structure that encourages companies to disclose accurate financial and non-financial information of their business models and provide greater transparency in their reports.