The Società a Responsabilità Limitata (S.r.l.) it's a form of limited liabilities company that represents the most flexible and widespread form among joint-stock companies, it's intended for smaller companies. The Società a Responsabilità Limitata (S.r.l.) is governed in the Civil Code by articles 2462-2483.

Partnerships, unlike joint stock companies, don't have "legal personality" therefore they are not legally distinct from natural persons and have "imperfect assets autonomy" or there is the unlimited and joint liability of any of the partners (except for "accomandandante" partner in S.a.s partnership) .

The content of the financial statement (balance sheet and income statement) in "ordinary" form is governed respectively by articles 2424 and 2425 of the civil code, they respectively establish the mandatory layout of the balance sheet and income statement. The article 2435 bis of the Italian Civil Code grants the faculty of drafting financial statements in "abbreviated" form to companies that have not exceeded certain dimensional and operational limits specifically indicated for a certain period of time. Below is the layout of the financial statements, in "ordinary" form, required by articles 2424 and 2425 of the civil code.

Italian's law maker has introduced the possibility of drawing up the financial statements in the "abbreviated" layout, governed by article 2435-bis of italian Civil Code, as compared to the mandatory "ordinary" layout of the balance sheet and income statement as required by articles 2424 and 2425 of italian civil code.