Formats for primary financial statements of city council: an international comparison

Principles of completeness, accuracy, clearness, simplicity and brevity should characterize internal and external communications of local authorities under a customer oriented government. In this context a good social-financial information management is essential, whereas by the entity is held by citizens in relation to optimal use of resources. So the statements of economic capital has a significant value after long time inopportune “exclusion”, in same States, considered less significant than the cash flow reports. The paper also considers the developments, and especially the challenges resulting from international accounting standards that do not provide a scheme of hard financial statement for private companies and local authorities. Finding and comparing formats of financial statements among themselves and with the Italian experience is the central subject of the paper. On the horizon, problems connected to the new role of companies and authorities in a “glocal” society.