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- How valid is the cable equation, or need slow concentration changes of the major ionic components involved be modeled explicitly?  - How can LFP calculations be incorporated in simulation software?  - Can single-compartmental model neurons generate local field potentials at all?  - Do extracellular potentials contribute to neuron-neuron and neuron-glia communication?  $F_L$ As shown in \cite{Chizhov_2015}, the simplest relationship between local field potential (LFP) and intracellular signals in layered neural tissue is given by a proportionality of the LFP to the dendritic and somatic voltage difference. However, this model does not take into consideration contributions of glia contribution and slow extracellular ionic concentration changes. Thus, it might be considered as a first-order approximation in cases of rather intensive synchronized neuronal activity. In the resent paper, we assert that the second-order contribution is the change of the extracellular potassium concentration, $[K^+]_e$. The increase of $[K^+]_e$ in time scales of tens and hundreds of milliseconds is caused by ionic flows through neuronal membranes, mainly due to voltage gated potassium channels, compared to slow effect of active and passive transporters. The increase is then buffered by glial cells, which effectively filter the impact of the transneuronal potassium flow. The glial membrane potassium currents contribute into the LFP, in addition to the neuronal membrane currents. As a result the LFP model has two terms.