Italian accounting has a long and honourable tradition of theoretical and applied analysis of the accounting and reporting function, perceived and defined much more broadly than in the Anglo-Saxon tradition. The high point of this perhaps, is the creation of what is known as Economia Aziendale (EA). The antecedents, genesis, and later developments are here presented in detail by highly knowledgeable specialists in the field.

EA takes as a prerequisite the necessity of the business (entity/azienda) to ensure its own long-run survival. This requires that the necessary...