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Is risk reporting a possible link between financial and management accounting in private firms?

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  • Chiara Crovini
  • Giovanni Ossola

Abstract

This study represents a theoretical analysis with the purpose to continue the discussion on the relationship between management accounting (MA) and financial accounting (FA), by concentrating on the role of risk reporting as a possible manifestation of their convergence. Moreover, the analysis focuses on the private-firm sector as private firms represent the backbone of the economic system of several countries and little is known about financial and non-financial reporting. Drawing on the neo- Durkheimian institutional theory, this paper develops a conceptual framing that considers risk as an embedded element of the business domain and risk reporting as a direct outcome of the convergence between MA and FA in private firms. Furthermore, the neo-Durkheimian institutional theory emphasizes that the owners and managers? risk attitude is a crucial element affecting risk disclosure, especially in private firms.

Suggested Citation

  • Chiara Crovini & Giovanni Ossola, 2021. "Is risk reporting a possible link between financial and management accounting in private firms?," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2021(1), pages 29-60.
    • Handle: RePEc:fan:frfrfr:v:html10.3280/fr2021-001002
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    More about this item

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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