The first decades of the twentieth century were years of innovation for Italian accounting theory: a new scientific approach, the Economia aziendale, was developed and affirmed as the\ud
dominant paradigm. Among its main ideas were new concepts of capital and income, strongly influenced\ud
by Irving Fisher. The analysis of Lorenzo de Minico’s entire scientific output demonstrates that\ud
he played a significant role in the ‘revolution’ which history credits almost exclusively to Gino Zappa.\ud
A critical methodological issue is confirmed: the lack of completeness in doing accounting history\ud
might lead to imprecise or incomplete knowledge of the evolution of accounting. Furthermore, this article tries to demonstrate that the structure of the real economy has played an important role in the assimilation of international theories in Italy, leading accounting theory in that country to be quite far removed from the Anglo-American approach
Although excluded from the scope of IFRS 3, business combinations under common control (BCUCCs) are widespread transactions that take place all over the world in different forms, often as a reorganization or restructuring among related parties. These transactions occur when entities are ultimately - not transiently - controlled by the same party/ies before and after the combination (which is neither a capital market nor an arm's length transaction and devoid of economic substance: indeed, no change of control is entailed). The scarce and fragmentary literature, not to mention the lack of clear consensus on the topic, contributes to the prevailing concerns on how to account for BCUCCs. In this complex context, the purpose of this work is to assess the possible and various accounting methods and identify the most suitable, accredited and consistent techniques.
Cash flows analysis plays an increasingly important role in the study of business dynamics since cash flows play a key role in the company's economic performance, not only from a standpoint but also in predictive terms. The literature on the subject is poor in number and depth of research, the samples analyzed so far are limited and the statistical tools are weak. Retracing the steps of past research, we studied the relationships between cash flows of several management areas and economic performance, using a complete sample of Italian listed companies in the 2008-2017 period with more solid statistical tools compared to previous studies. The database used to collect all the balance sheet data necessary to conduct our research is Amadeus of the Bureau Van Dijk platform, which already shows reclassified and easily comparable financial statements. Correlation and multiple regression analysis were used to assess if our cash flow proxies could be strong predictors of future cash flow and, consequently, of business performance. The flows for investments and the ability to generate cash, where the latter is positively correlated with future profitability, manage to explain, together with the net cash generation of the company, a large part of the variability of the operating income produced in subsequent periods. The flows from investments seem to be the most suitable for correctly classifying the most profitable companies in the medium-long term, while cash generation, deriving from the characteristic activity, contributes to providing answers, about corporate profitability, on shorter time horizons.
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