Short Notes about Financial Reporting in Italian Family Businesses

Abstract

The main purpose of the paper is to analyse some features regarding economic and financial communication in Italian family companies. This is a theoretical essay focuses on to point out the new role played by balance sheet as a public document which carries all information needed by players operating both inside and outside the company. Paper shows the long and troubled process of transforming balance sheet from internal document to an official document useful to stakeholder to measure and evaluate family business performance and to implement accountable and responsible behaviour. The most important aspects being considered are: 1) the relationship link-ing balance sheet and stakeholders; 2) the relationship between company-family and patrimony-marriage; 3) the consequences caused to the balance sheet by measurement regulations.family business; balance sheet; accountability; financial reporting; firm behaviour; stakeholders.