This paper analyses the potential impacts of the introduction of a new accounting standard, International Financial Reporting Standard 16 (IFRS 16) -Leases, on financial leverage and performance of entities. This new accounting standard was introduced on 13 January 2016, and will become effective on 1 January 2019; it will have material impacts on the financial statements of listed companies adopting IFRS and change the basic principles of the current accounting system. Our aim is to estimate the impacts of the application of IFRS 16 on listed issuers of financial statements and the different impacts that the new standard could have in different activity sectors. This research estimates the effects of IFRS 16 on the ratios of debt/total assets, EBITDA/revenues and debt/equity. The conclusions summarize the effects on entity performance and net financial position. The research shows that in the financial statements of the lessee, there will be important changes. In particular, in the balance sheet, there will be an increase in lease assets, an increase in financial liabilities and a decrease in equity, while in the income statement, there will be an increase in EBITDA and an increase in finance costs. The impact of the application of IFRS 16 will be different depending on the use of operating lease contracts among the different business sectors. Leases are an important and flexible source of financing; listed companies, using IFRS and U.S. GAAP, are estimated to have around US$ 3.3 trillion in lease commitments. Finally, this study aims to analyse the possible impacts of communication of entities, focusing on alternative performance measures.

The Asili di Carità was a non-profit educational institution established for very young children by the Catholic Church in 1836 in the City of Milan. This study shows how the First World War, changes in political ideology and economic developments in northern Italy directly impacted upon the, sometimes precarious, financial position of the Asili. Within the context of such change, the Board of the Asili enacted accountability through the maintenance and presentation of accounting records and meetings with stakeholders. This study draws from both public and private archives to examine the decisions made by the Board in response to change. The study focuses on the Asili’s relations with its most economically powerful stakeholders in the period from 1913 to 1926 as it transitioned from a privately funded organisation to one that was funded predominantly by the Municipality of Milan, before reverting to private hands.

RESUMENEste estudio se centra en el análisis de los cambios y la evolución del sistema de contabilidad de "Asili di Carità" -una escuela de "Kindergarten" introducida en nuestro país a principios de 1800. Originalmente esta institución era una asociación privada fundada en 1836 que en los dos años recibirá el reconocimiento de "Pia Causa". Fue dirigido a los niños desfavorecidos de entre dos y seis años.Con el fin de entender mejor las decisiones políticas, económicas y contables realizadas por el gobierno de la institución en el período analizado, nuestra investigación se desarrollará tanto en la evolución histórica de la estructura y de la organización que en los documentos económicos -financieros de "Asili di Carità".Para poner de relieve su contribución a los grandes cambios que tienen lugar en los libros de contabilidad, vamos a analizar los estados financieros y los informes de gestión "morales y administrativas" de "Asili di Carità" en momentos particulares de la vida de la institución y los comparamos con la evolución de las teorías contables y con el pensamiento de los principales estudiosos de la época alrededor de la unificación de Italia (1836-1892) .El objetivo principal de nuestra investigación es analizar cómo las teorías contables de la época han penetrado en las prácticas contables de la entidad y qué tipo de evolución ha sido percibido por "Asili di Carità", ya sea a nivel nacional (después de la unificación de Italia) o sin embargo, a nivel local.En este análisis se tratará de: -investigar la aplicación de nuevas leyes administrativas y términos de contabilidad; -investigar la coherencia de las teorías contables introducidas por los estudiosos de la época y la práctica; -analizar si la evolución de las teorías contables y estudiosos del pensamiento también ha realizado cambios en las prácticas contables de kindergarten. ABSTRACTThis study focuses on analyzing the changes and evolution of the accounting system in "Asili di Carità" -a "Kindergarten" school introduced in our country in early 1800. Originally this institution was a private association founded in 1836 that within two years got the recognition of "Pia Cause". It was aimed at disadvantaged children aged between two and six years.

In a world more interconnected and globalized, the Entities periodically communicate to stakeholders, and in general to market, their performances and results. The Entities use, in their financial communication, Alternative Performance Indicators (APM) that are not required by accounting principles. APM are increasingly used by Entities to help provide insights on performance. These indicators are a financial measure of historical or future financial performance, financial position, or cash flows, other than a financial measure defined or specified in the applicable financial reporting framework. This study aims to analyse the spread of APM, investigating the financial communications of Listed Italian Industrial Entities on FTSE-MIB index 40. As APM have become more widespread, their reporting has turned out to be an hot topic around the world for prepares, stakeholders, auditors and regulators. The European Securities and Markets Authority issued new guidelines that aim to improve the usefulness and transparency of Alternative Performance Measures. In the second part, the study aims to analyse how the Entities expects to apply these new guidelines and the impacts on financial communication.

This study analyses the accounting change that occurred as a consequence of the amalgamation of the municipalities of Milan and Corpi Santi in the years 1873-1876 and sheds light on the role played therein by accounting information. To explain the process of accounting change, the study adopts institutional theory, in particular, coercive isomorphism and the processual approach of Dawson. While coercive isomorphism shaped the process of municipal amalgamation, innovation in accounting practices also took place, greatly contributing to building the sense making of the new community. The accounting innovation consisted in the use of cost accounting logic to allocate revenues and expenditures between the two municipalities that in the end favoured the amalgamation and overcame the mandatory separation of published accounts. The study presents evidence that leading elected councillors and the chief accountant bolstered the process of accounting innovation. Apart from external organisational pressures posited by institutional theory, we suggest that, to explain accounting change within organisations, more emphasis should be given to the role played by individuals and contrasting interests during the institutionalisation process.