Modelling transparency: A research note on accepting a new paradigm in business reporting

Abstract

Key points: - Measuring intangible assets constitutes an accounting perspective on voluntary disclosure - However, business reporting constitutes a strategy perspective on voluntary disclosure - ICAEW should move from an accounting to a strategy perspective and leave the intangible assets debate, which was to a large extent abandoned by the academic community at the turn of the millennium - A business reporting model must incorporate the four generic components: 1. An external communication purpose 2. A description of content 3. A structure for disclosing content 4. A defined method of construction - Business reporting does not affect stock prices in the same manner as earnings announcements and similar financial information because business reporting is a field concerned with understanding the company and not the stock price - Transparency must be understood from a perspective alternative to that of the normative accounting paradigm because there exists an information dilemma in relation to new types of information

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