Voluntary adoption of the consolidated financial statement and fair value accounting by Italian local governments

Silvia Gardini, Giuseppe Grossi

Forskningsoutput: TidskriftsbidragArtikelPeer review

4 Citeringar (Scopus)

Sammanfattning

The paper focuses on the potential benefits of fair value accounting (FVA) in the public sector and the shift towards the entity theory of consolidation supported by international accounting standards. The analysis of the Italian cases shows neither adjustments of the assets to their fair value, nor any recognition of intangibles other than goodwill in consolidated financial statement (CFS), maintaining the configuration of a municipal corporate group based on historical costs. These findings suggest a lack of focus on FVA by local governments (LGs), which is in contrast with international accounting standards. Using a combination of sources (such as annual reports and interviews), part of this paper is based on multiple-case studies of Italian LGs on the voluntary adoption of CFS.

OriginalspråkEngelska
Sidor (från-till)313-344
Antal sidor31
TidskriftJournal of Public Budgeting, Accounting and Financial Management
Volym26
Utgåva2
StatusPublicerad - 2014

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