Proceedings of 8th Annual London Business Research Conference
Imperial College, London, UK, 8 - 9 July, 2013, ISBN: 978-1-922069-28-3
Accrual Accounting in Italian Local Governments in the
Context of Public Sector Managerial Changes
Claudia Salvatore† and Carla Del Gesso**
This article focuses on the main reforms of accounting in Italian local
governments within the context of international public management change.
It traces the progressive introduction of accrual bookkeeping as a means of
improving the decision-making process with the ultimate aim of improving
efficiency, accountability and transparency. In Italy, local governments were
the precursors of managerial changes in the public sector, and accounting
innovations (starting in 1990) are still ongoing. A legislative decree of 1995
introduced accrual reporting in the traditional cash accounting as well as
managerial control systems, whereas double-entry bookkeeping will be
mandatory in 2014. Currently, budgetary accounting is still prepared on a
cash and commitment basis, and the budget continues to play its central
authorizing function in the accounting cycle in which accrual reporting has a
marginal role. Accrual accounting is often considered a mere formal
requirement; consequently, implementation of management by objectives is
still largely elusive.
Field of Research: Accounting
JEL Code: M 41
1. Introduction
The aim of this study was to analyse the process of modernization of accounting in Italian
local governments (LGs) within the context of significant management changes made in
the public sector in the wake of the New Public Management (NPM) movement (Hood
1991, 1995, 2000; Pollitt & Bouckaert, 2000; Barzelay, 2001), which has been widely
adopted internationally (Lapsley, 2009). In Italy, the trajectory of public management
reforms started with law 142/1990 (Ongaro & Vallotti, 2008, p. 181) that was devoted to
the reorganization of LGs. This law introduced accrual principles also in public sector
accounting with the aim of reducing costs and optimising allocation of resources. The most
significant change for LGs was legislative decree 77/1995 that introduced accrual reporting
and managerial control systems. More than 10 years later, law 42/2009 and legislative
decree 118/2011 introduced harmonization of the accounting process in LGs.

Claudia Salvatore, Associate Professor of Accounting and Business Administration, Department of
Economics, Management, Society and Institutions, University of Molise, Campobasso, Italy. Email:
claudiasalvatore@unimol.it
**Carla Del Gesso, Contract Professor of Public Administration, Department of Economics, Management,
Society and Institutions, University of Molise, Campobasso, Italy. Email: carla.delgesso@unimol.it.
†
Although this article results from a collaboration between the authors, Claudia Salvatore produced sections
4, 4.2, 4.3, 5 and 6, whereas Carla Del Gesso produced sections 2, 3 and 4.1; section 1 was produced by
both authors.
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Proceedings of 8th Annual London Business Research Conference
Imperial College, London, UK, 8 - 9 July, 2013, ISBN: 978-1-922069-28-3
The overall aim of this modernization process was to better meet the users‟ needs; in fact,
the integration of the traditional accounting system (cash accounting-based) with accrual
data provides economic information about the performance of LGs that can be used for
rational decision-making. Thus, in this optics, the implementation of accrual accounting
should be viewed as an important opportunity to improve the quality of information, and not
merely a legal requirement. However, LGs are still having difficulty in adopting the new
accounting model.
This paper reports the main reforms introduced into LG accounting and maps the
progressive implementation of accrual-based accounting in Italy.
2. Literature Review
2.1 Changes in the Public Sector: New Public Management Reforms
During the last two decades, the public sector in many countries has undergone a general
process of change as a result of NPM-related reforms (Hood, 1991, 1995). The aim of
these reforms was to improve the efficiency of resource use and to enhance transparency
and accountability (Lapsley, 2008). Central to these reforms, which introduced managerial
and market-based principles in public organizations, has been the transformation of
accounting-based techniques (Olson et al., 1998, p. 18; Guthrie, 1998; Lapsley, 1999).
Many international studies show that within the global phenomenon of financial NPM
reforms, public sector institutions have changed, or are in the process of changing, their
financial statements and reports in order to integrate accrual accounting principles (see for
example, Guthrie et al, 1999; Olson et al., 2000) by introducing more informative and
business-oriented accounting systems.
In accordance with this international trend, LGs have undergone a process of reform
involving the accounting system information that can be viewed as part of a wider set of
public sector reforms (Lapsley & Pallot, 2000, p. 215). The most relevant of these reforms
concern accounting tools and performance measurement (Nasi & Steccolini, 2008, p. 181).
In particular, the accrual accounting developments related to NPM initiatives have led to
radical changes in accounting models (Borgonovi & Anessi Pessina, 2000), but these
changes have had a limited impact on the potential users of information (Arnaboldi &
Lapsley, 2009).
2.2 Heterogeneity of the Application of Accrual Accounting
The evolution from a cash-based budgetary accounting system to an accrual-based
financial system and thus to a cost accounting system in LGs has been well documented
worldwide (see for example, Lapsley & Pallot, 2000 for Scotland and New Zealand;
Yamamoto, 1999 for Japan; Barton, 2009 for Australia; Pina et al., 2009 for a comparative
view of EU local governments; da Costa Carvalho et al., 2007 for Portugal; Christiaens,
2001 for Flemish local governments; ter Bogt 2008 for the Dutch public sector; Caccia &
Steccolini, 2006, Anessi-Pessina & Steccolini, 2007, Anessi-Pessina et al., 2008 and Nasi
& Steccolini, 2008 for Italy; Ridder et al., 2005 for Germany; Goddard, 2005 and Ball, 2005
for the UK; Adam et al., 2011 for a comparative view of the situation in Germany, Italy and
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Proceedings of 8th Annual London Business Research Conference
Imperial College, London, UK, 8 - 9 July, 2013, ISBN: 978-1-922069-28-3
UK). In particular, Adam et al. (2011) describe the complexity and diversity of accounting
practices in two cities in Germany, two in Italy and two in the UK. They also confirm the
tensions between the institutional environments of continental European accounting and
the Anglo-Saxon world of accounting (see also Caperchione & Lapsley, 2011, p. 104). A
main feature of the current situation of LG accounting systems in Europe is heterogeneity
in terms of the different patterns and aims of the reforms in the individual politicoadministrative environments (see also Vela & Fuertes, 2000, p. 87). Moreover,
international studies reveal that there are various degrees of accrual accounting
implementation and legal compliance (see for example Pina et al., 2009).
Accounting systems vary widely among countries and between different levels of
governments: in some of these systems accrual accounting completely replaces traditional
budgetary accounting, in others accrual reporting is adopted in conjunction with cash or
commitment-based budgeting (Anessi Pessina et al., 2008, p. 321). In general, many
intermediate systems between the extremes of pure cash and full accrual accounting have
been adopted in the public sector, and there is no single accrual accounting model (Pina &
Torres, 2009, p. 336), but a wide diversity of bookkeeping systems. On the whole, three
main situations emerge: (i) countries that have a higher degree of implementation of
accrual accounting in both their budgetary and accounting systems (Anglo-American
countries); (ii) countries that have implemented accrual accounting but budgeting is still
based on cash accounting (many Continental European countries); and (iii) countries
whose accounting is predominantly cash-based (Pina & Torres, 2009, pp. 343-345).
2.3 Advantages and Problems of the Adoption of Accrual Accounting
The “new accounting models” have various advantages, for instance, they identify the
costs of services and of political programmes; enable cost control and efficiency
measurement; ensure accountability for the use of resources; and focus on the long-term
impact of decisions (Anessi Pessina & Steccolini, 2007, p. 114). In fact, accrual accounting
provides complete information about the assets of public organisations and enhances the
quantity and the quality of information generated by the accounting system. Moreover, the
accrual accounting model provides information about the results obtained (revenue and
costs), which can be used to enhance communication with stakeholders, to better evaluate
performance and to measure the impact of public policies. Thus, this model allows
management to make more rational and efficient choices.
However, the implementation of accrual accounting is, on the whole, problematic (see
Carlin & Guthrie, 2003 and Lapsley et al., 2009 for an overview of accrual accounting in
the public sector) and its actual effects are still limited. In this optics, Pallot (2001)
observes that the real success of accrual accounting in the public sector depends on its
long-term effect. Thus, the gaps between the formal purposes of accounting reforms and
their actual effects persist, and the usefulness of accrual accounting for public sector
decision-making is still questioned (see for example, Kober et al., 2010; Carlin, 2005; ter
Bogt & van Helden, 2000).
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Proceedings of 8th Annual London Business Research Conference
Imperial College, London, UK, 8 - 9 July, 2013, ISBN: 978-1-922069-28-3
3. The Methodology
The methodology we used is based on a deductive analysis of accounting reforms in
Italian LGs, and on doctrinal research related to this topic.
4. Implementation of Accrual Accounting Reforms in Italy
Accounting reforms of the Italian LG sector over the last two decades were inspired by
managerial principles (Mussari, 1997; Meneguzzo, 1997). The aims were to increase
financial autonomy, to privatise activities (Caccia & Steccolini, 2006, p. 155), and lastly to
ensure transparent information in order to improve expenditure control, internal decision
making and external accountability.
4.1 Law 142/90 - “A Law of Principle”
Law 142/1990 was the first attempt to introduce accrual accounting in Italian LGs. The law
encouraged reporting of economic information about performance but did not make it
compulsory. Although accrual transactions had to be shown (law 142/1990, art. 55, c. 6),
the reporting documents (the year-end financial report and the balance sheet) remained
exclusively financial-based. Therefore, this first reform was only a “law of principle”
because did not allow LGs to implement accrual accounting and did not change their
traditional accounting system.
4.2 Legislative Decree 77/1995 and Accrual Accounting in the Reporting Stage
Five years later, legislative degree 77/1995 marked a step forward in accrual accounting
implementation in Italian LGs. This decree introduced two important innovations: “accrual
reporting” and “managerial control systems” (Nasi & Steccolini, 2008, p. 176) in order to
enhance accountability, transparency and managerial control. However, the introduction of
accrual accounting still did not replace the traditional accounting system (Anessi Pessina &
Steccolini, 2007 p. 116). In fact, “accrual reporting” required LGs to produce an operating
statement in the reporting phase of their accounting cycle. However, because double-entry
bookkeeping was not mandatory, LGs could choose the type of accounting to use to
produce this statement. Consequently, three types of accounting systems have emerged:
1) extensive financial accounting; 2) an integrated system; 3) a parallel accounting system
(see Anessi Pessina, 2000, pp. 156-158).
The extensive financial accounting model is based on a single-entry budgetary accounting
method that does not introduce accrual accounting. Local governments elaborate accrual
documents in the reporting phase using a “reconciliation statement” that reconverts their
cash and commitment data into accrual-based information at the end of the year. The
integrated system model consists of financial and accrual accounting in a common
database that enables LGs to elaborate all the year-end reporting documents (the yearend financial report, operating statement, and balance sheet). In this configuration of
accounting, LGs record their transactions using both single-entry budgetary accounting
and double-entry bookkeeping (Anessi-Pessina et al., 2008, p. 322). With this model, they
also elaborate a “reconciliation statement” to reconcile ex-post the values of the two
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Proceedings of 8th Annual London Business Research Conference
Imperial College, London, UK, 8 - 9 July, 2013, ISBN: 978-1-922069-28-3
bookkeeping systems, but only in order to identify discrepancies. Thus, the function of this
statement is less important in the integrated accounting model than in the extensive
financial accounting model. Lastly, in the parallel accounting system financial and accrual
accounting coexist, but they are divided into two independent sub-systems of accounting
that are not formally connected.
Legislative decree 77/1995 also introduced the executive budget, which enables the
Executive body to assign objectives and resources, both financial (on a cash and
obligation basis) and non financial, to administrative/technical managers. Therefore, it
required LGs to adopt “managerial control systems” (Caperchione & Pezzani, 2000).
Subsequently, legislative decree 286/1999, which reorganised public sector control
systems, introduced the principle of separation between compliance controls, managerial
and strategic controls, and personnel performance evaluation (Caccia & Steccolini, 2006,
p. 157).
In summary, as shown in Table 1, after the reform of 1995, LGs in Italy maintained the
traditional cash and commitment-based system in all phases of their accounting cycle
(budgeting, accounting and reporting) and implemented accrual-based reporting although
it remained marginal. In fact, budgets still have a merely formal “authorizing” function and
retain their key role in LG accounting. In particular, during the budgeting phase, LGs
elaborate a triennial strategic plan and a budget structured according to the commitment
basis of accounting that must be approved by the Town and/or Provincial Council (Caccia
& Steccolini, 2006, p. 156). They also elaborate the executive budget based on the budget
approved by the Executive body. In the accounting phase, some LGs have implemented
accrual accounting, but most continue to use single-entry bookkeeping. Therefore, in the
reporting phase they use the “reconciliation statement” in which their operating statement
and balance sheet are derived from modified cash and commitment-based accounting
statements through a complex system of adjustments (Mussari, 2005; Anessi-Pessina &
Steccolini, 2007, p. 117; Nasi & Steccolini, 2008, p. 182; Adam et al., 2011, p. 118). As
shown in Table 1, the accounting system of Italian LGs is, at present, mandatorily accrualbased only in the reporting phase (Anessi Pessina et al., 2008, p. 321).
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Proceedings of 8th Annual London Business Research Conference
Imperial College, London, UK, 8 - 9 July, 2013, ISBN: 978-1-922069-28-3
Table 1: Evolution of the Implementation of Accrual Principles in the Three Phases
of the Accounting Cycle in Italy
Phases of
accounting cycle
BUDGETING
ACCOUNTING
REPORTING
Before Legislative
decree 77/1995*
Triennial Strategic
Plan,
Financial budget.
Financial accounting
Year-end financial
report,
Balance sheet.
Legislative decree
77/1995
Triennial Strategic
Plan,
Financial budget,
Executive budget.
Three types of LGs
accounting systems
emerged:
Extensive financial
accounting,
Integrated
accounting,
Parallel accounting.
Year-end financial
report,
Balance sheet,
Operating
statement,
(Reconciliation
statement).
Legislative decree
118/2011
Triennial Strategic
Plan,
Financial budget,
Executive budget.
New financial budget
templates become
available
(Decree of the
President of the
Council of Ministers
28.12.2011)
Integrated
accounting system.
Year-end financial
report,
Balance sheet,
Operating
statement,
(Reconciliation
statement).
New accounting
document templates
become available
(Decree of the
President of the
Council of Ministers
28.12.2011)
*
Before legislative decree 77/1995, law 142/1990 introduced accrual accounting principles
but did not allow LGs to change their traditional accounting documents.
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Proceedings of 8th Annual London Business Research Conference
Imperial College, London, UK, 8 - 9 July, 2013, ISBN: 978-1-922069-28-3
4.3 Accounting Harmonization and IPSAS
In 2009, the Italian Parliament passed a law (42/2009) to introduce fiscal federalism, which
includes the principles of harmonization of accounting processes at municipal, provincial
and regional level. To meet the accounting harmonization objectives of this law, central
Government issued a legislative decree (118/2011) that requires LGs to complement their
financial accounting with accrual accounting to ensure disclosure. Subsequently, the
President of the Council of Ministers issued a decree on 28 December 2011 that
introduced, for some Italian entities, selected based on geographic and demographic
criteria, a two-year experimentation phase of accrual accounting starting in 2012. New
accounting document templates were also provided. In 2014, all LGs must adopt an
integrated accounting system (like the integrated system configuration described above).
The purpose of fiscal federalism, which will result in consolidated financial statements
(Adam et al., 2011, p. 122), is to uniform the information provided by public accounting in
order to make it comparable thereby enhancing transparency in public finances.
Accounting harmonization was also introduced to foster a convergence in the final
configuration and informative dimension of different countries. Therefore, the aim of the
harmonization process is to synchronize the accounting differences existing between
countries and between the various public entities and levels of government within each
country (see Caperchione, 2012) by introducing accrual principles in all phases of the
public accounting cycle.
The importance of accrual information within the context of accounting harmonization is
also generally viewed by academics and practitioners as an opportunity to develop the
International Public Sector Accounting Standards (IPSAS) (Rossi & Trequattrini, 2011;
Farneti & Pozzoli, 2005). In fact, in Italy, in which the budgets are still cash-based, the
present accounting heterogeneity at regional and municipal level (Grandis & Mattei, 2012,
p. 33), is a barrier to the implementation of IPSAS. Although the recent harmonization
reforms (from 2009) do not mention IPSAS principles, the convergence of local and central
entities to the new accounting principles and to a homogeneous balance scheme in 2014
should foster the implementation of IPSAS.
5. Discussion
Implementation of accrual accounting by Italian LGs occurs within the context of public
management reforms based largely on NPM principles, which introduced a managerial
vision in the public sector in the attempt to overcome bureaucratic obstacles to cost control
and efficiency measurement. NPM-related reforms have transformed the significance of
accountancy (Lapsley, 1999, p. 202). In fact, they enable the evaluation of the assets of
public organizations, foster the adoption of managerial techniques typical of the private
sector and consolidate performance management (Rossi & Trequattrini, 2011, p. 137). In
this new cultural context, the adoption of accrual accounting revealed that public entities
need to use their limited resources better and with economic criteria. Thus, by providing
relevant information for political decision-makers and administrative/technical managers,
accrual accounting also plays a key role in strategic performance management (Kloot &
Martin, 2000). Moreover, by evaluating performance (service costs, efficiency and results
obtained) and providing an estimate of the public value created, accrual accounting also
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Proceedings of 8th Annual London Business Research Conference
Imperial College, London, UK, 8 - 9 July, 2013, ISBN: 978-1-922069-28-3
helps to improve assessment of managerial decisions. In fact, accrual accounting is often
recognised to be better than traditional budgetary accounting in providing relevant
information to external and internal users (politicians, managers and citizens) about the
management of public assets (for a discussion, see Anessi-Pessina & Steccolini, 2007).
However, empirical studies demonstrate that these advantages of accrual accounting
have not had a significant impact on the public sector. In fact, accrual accounting
information is rarely used by public organizations for internal management control
purposes, and moreover public managers are usually not familiar with managerial
techniques (Paullson, 2006, p. 60).
Italian LGs may be considered the first public entities in Italy to include economic surveys
in their financial accounting. Despite a long process of accounting reforms, the usefulness
of the integrated accounting systems for their decision-making is influenced by such
cultural variables as the perceptions of Chief Financial Officers and geographic location
(Anessi Pessina et al. 2008, p. 337). As emerges from an empirical study (see Nasi &
Steccolini 2008, p. 186), in Italy, the integrated configuration of accounting is often chosen
merely to meet the legal requirements; rarely is it chosen to improve cost-accounting and
management control.
In this scenario, it is difficult to implement management by objectives in Italy (Pavan &
Reginato, 2012, p. 362) because budgetary accounting is still financial-based, and accrual
implementation is still generally considered merely a formal requirement. In fact, although
an executive budget, in which the Executive body assigns objectives and resources to
administrative/technical managers was implemented in 1995, it derives from a budget that
is not yet economic-based. Moreover, although accrual accounting has been implemented
by many LGs, most politicians, who are the internal users of the accrual accounting
systems, are reluctant to use them to improve strategic and management control.
The latest accounting reform in Italy (legislative decree 118/2011) confirms the formal
“authorizing” function of budgets and the fundamental role of financial accounting to reach
LG objectives. However, it makes accrual accounting mandatory in order to determine
revenue, to manage costs and to obtain information about economic resources (acquired
and used). At the end of the ongoing experimentation phase, Italian LGs should reach a
homogeneous level of accounting in which each entity adopts the integrated system. As
long as budgets continue to have a central “authorizing” function in the accounting cycle,
financial accounting will prevail because decisions will continue to be made from cash-and
commitment-based data, while accrual accounting will be implemented only to comply with
the law.
This incongruity could be addressed by training human resources to implement the
advantages of accrual accounting. Politicians and administrative/technical managers
should be aware that accrual accounting can support decision-making and help to devolve
management responsibilities. In fact, as reported by Anessi Pessina (2000) and
Caperchione (2000), traditional budgetary accounting in LGs does not provide reliable
information on the medium and long-term impacts of government policies; has incomplete
information about the transactions recorded; provides limited economic information about
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Proceedings of 8th Annual London Business Research Conference
Imperial College, London, UK, 8 - 9 July, 2013, ISBN: 978-1-922069-28-3
the effects of management on assets, liabilities and economic results; does not allow
expenditure control; and finally, it contributes little to decision-making.
In an era of declining financial resources, LGs should, more than ever, reinforce the link
between strategic goal-setting and performance management in order to increase
accountability and disclosure to citizens and stakeholders.
6. Conclusions
In the wake of public management reforms, LG accounting in Italy has been undergoing a
process of change since 1990. However, the complexity of the informative accounting
system resulting from the various reforms together with cultural resistance will probably
delay the implementation of authentic managerial innovation. Double-entry bookkeeping
will be mandatory for all public bodies starting from 2014. Thus, serious efforts should be
made to overcome the opposition to accrual implementation in public accounting.
Politicians and managers should accept the change as an opportunity to implement a new
cultural way of responsive management based on a rational modus operandi. This implies
that politicians and administrative/technical managers must understand that accounting is
not a mere formality, and recognize that it provides crucial information for management
control. In fact, the integrated configuration of accounting (cash and accrual) completes
the set of information required in the decision-making process to enhance the planning of
objectives and the results of performance in an efficient cycle of plan-do-check-act.
However, in Italian LGs only financial information continues to be used for managerial
decision-making. Consequently, the process of managerial changes, which entails the
transition from bureaucracy to responsive management, is well underway, but not yet
complete.
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