Il sistema contabile sotteso ai principi ITAS: una prospettiva comparata con i principi contabili IAS/IFRS e IPSAS

The Accounting System Underlying the ITAS Principles: A Comparative Perspective with IAS/IFRS and IPSAS Accounting Standards: This paper examines the accounting system underlying the Italian national public sector accounting standards (ITAS), comparing it with IAS/IFRS and IPSAS in order to determine its positioning within the debate between the asset-liability view and the revenue-expense view. The study applies a multidimensional framework articulated into ten dimensions to assess the presence of asset-liability and revenue-expense elements in the Conceptual Frameworks and in a selected sample of accounting standards. The findings show that IAS/IFRS and IPSAS display a strong asset-liability orientation, whereas ITAS exhibit a more balanced integration of asset-liability views and revenue-expense views, representing a synthesis between international harmonization pressures and the Italian accounting tradition. However, this theoretical balance does not ensure a corresponding balance in practical implementation. It is reasonable to assume that public entities will exercise valuation discretion in line with their institutional objectives and organizational characteristics, potentially leading to polarizations toward one of the two approaches. The coexistence of criteria traceable to both perspectives may, over time, generate both a crystallization of methodological choices and significant inter-entity heterogeneity in application, with possible tensions in relation to harmonization objectives. The pilot phase scheduled to begin in 2025 will provide an important opportunity for empirical validation.