Il principio della sostanzialità del bilancio nelle operazioni di locazione finanziaria

This paper aims to deepen the study of the substance over form principle applied to financial leasing operations and to propose an accounting method partially different from the assed-­‐based method currently used in Italy. To this end the research first analyzes the definition of the principle according to IAS/IFRS and the Conceptual Framework for Financial Reporting. Secondly, the study reconstructs the developments of international literature on leases, from the 70s to today and also traces the Italian legislative evolution of the 2000s.Furthermore, the paper analyzes the substance over form rule both in the context of national accounting standards OIC and in the critical thinking of Italian scholars.On the basis of these reconstructions, the study proposes an accounting model for financial leasing operations that seeks to reconcile the conservatism principle and the need to protect social creditors with the representation of the substance of economic transactions.