Planning Cycle. Italian universities approach: To adopt an integrated approach between strategy, performance and balance sheet.

Five priority actions may be suggested to universities: (1) financial programming should be connected
to the strategic framework and, possibly, built with the involvement of the departments; (2) to develop a sustainable budget process, which is suitable for the organizational context; (3) revise accordingly the internal regulations and flowcharts, clearly indicating actors, roles, responsibilities, tools and times; (4) perform analytical accounting exercises, including non-accounting ones; (5) ensure that integrated reporting is carried out showing what has been achieved compared to what was planned, in operational, economic / financial and strategic terms.