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Accounting for Public Private Partnerships

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  • Darrin Grimsey
  • Mervyn K. Lewis

Abstract

A public–private partnership (PPP) can be defined as a cooperative arrangement between the public and private sectors for the sharing of the risks and responsibilities for the provision of asset–based (infrastructure) services. The long–term contractual nature of the business relationship leads to difficult financial issues, related to taxation, cash flow budgeting and disclosure rules. In addition, the number of entities with an interest in the outcome puts a premium on accountability in the broad sense. Neither traditional models of public sector accountability nor those developed for private sector entities are adequate. A new paradigm is required which takes into account the complexity of the risk–sharing mechanisms and identifies clearly the rights and responsibilities of the various partners.

Suggested Citation

  • Darrin Grimsey & Mervyn K. Lewis, 2002. "Accounting for Public Private Partnerships," Accounting Forum, Taylor & Francis Journals, vol. 26(3-4), pages 245-270, September.
    • Handle: RePEc:taf:accfor:v:26:y:2002:i:3-4:p:245-270
    DOI: 10.1111/1467-6303.00089
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    Cited by:

    1. Mala, Rajni & Chand, Parmod, 2015. "Commentary on phase A of the revised conceptual framework: Implications for global financial reporting," Advances in accounting, Elsevier, vol. 31(2), pages 209-218.
    2. Miranda Sarmento, J.J. & Renneboog, Luc, 2016. "Anatomy of public-private partnerships : Creation, financing, and renegotiations," Other publications TiSEM dc944be7-8594-4439-90da-6, Tilburg University, School of Economics and Management.
    3. Ron Hodges & Howard Mellett, 2005. "Accounting for the U.K.'s Private Finance Initiative: An Interview‐Based Investigation," Abacus, Accounting Foundation, University of Sydney, vol. 41(2), pages 159-180, June.
    4. Miranda Sarmento, J.J., 2014. "Public private partnerships," Other publications TiSEM c7d4c978-234c-4f88-83ed-1, Tilburg University, School of Economics and Management.
    5. Cheng Chen & Dan Li & Caixia Man, 2018. "Toward Sustainable Development? A Bibliometric Analysis of PPP-Related Policies in China between 1980 and 2017," Sustainability, MDPI, vol. 11(1), pages 1-25, December.

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