Public Local Group: The Financial Statement Effects of Adopting the International Public Sector Accounting Standards (The Case of Italy)

Paolo Pietro Biancone, Silvana Secinaro

Abstract


Using a sample of Italian local group, we investigate the financial statement effects of adopting International Accounting Standards. The consolidated financial statements for the local public group, recently introduced in the experimental stage by the Italian legislature, has the potential to provide the information needed to verify the degree of achievement of the objectives inherent in the entire aggregate, especially with reference to the composition the sources of the resources that the composition of the loans of the same. In this context allows to know the group’s financial structure, the degree of financial independence and the level of debt, the structure of ownership of the group, the overall cost of the same, the structural composition of costs, especially those that are the most significant items of part of the output. The consolidated information permits, also, the knowledge of the different composition of income as well as the analysis of the relationship between revenue from taxing ability of the parent and the income from exchange relationships activated by the subsidiaries with consequential possibility of forecast consolidated business units as well as to formulate programs for greater optimization is finding that the use of resources.Of course, here and take over the limits, in his overview (overall) the consolidated financial statements can conceal the meaning of particular events and makes it difficult to compare spatial/temporal data consolidated as the Group is, by its nature, ductile (not is a stable) and flexible is the scope of consolidation (directly dependent on the composition of the Group) (Grossi & Reichard, 2006). It will strictly depends by the criteria adopted in the consolidated process: this paper aims to discuss the purpose of the consolidated financial statements of the Public groups to steer the preparation of the interests of stakeholders.
Key words: Consolidated financial statement; Stakeholders; Public group; IPSAS; IAS/IFRS; Local GAAP

Keywords


Consolidated financial statement; Stakeholders; Public group; IPSAS; IAS/IFRS; Local GAAP

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References


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DOI: http://dx.doi.org/10.3968/%25x

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