The accounting standards in Italy: an analysis of their application through a case study

The effects of globalization have affected companies in such a deeply way, that countries have tried to standardize their accounting procedures. The aim of this process, called harmonization of accounting standards, was to ensure completeness and clarity to the financial statements of companies. However, in some countries like in Italy, different SMEs and non-listed companies still use their national accounting principles. The aim of this thesis is to underline the main international accounting standards (IFRS/IAS) applied in Italy and to make a comparison between them and the ITA GAAP. The research applied is the case study method, where a financial analysis of a medium enterprise will be carried out making some references to the Italian GAAP. Consequently, the thesis will be composed by both theoretical and practical part. The first one is based on the standards of IFRS, ITA GAAP and on the European legislation. The second part is an analysis of financial statements considering some Italian accounting principles.