Research On Grantor's Accounting Of PPP Projects In China

The public-private partnership(PPP)model is proposed to provide public infrastructure and services.This model can not only provide financial support for the project construction,but also improve the operational and management efficiency of public infrastructure under the operation of social capital.In recent years,with the increasing demand of Chinese government for public goods,PPP cooperation mode has become more and more common in China.According to different risks Shared by the government and enterprises in the project,the PPP mode includes BOT,BOO,TOT and other different forms,and the business model presented is also very complicated.The basic assets involved in PPP projects should be accurately and reasonably reflected in the financial statements of the government or enterprises to standardize the supervision and management of PPP projects.At the same time,China stipulates that government departments should prepare financial statements based on the accrual basis,and the assets and liabilities related to PPP projects should be reflected in the balance sheet of government departments according to the economic essence.However,at present,there is no unified regulation on how to conduct accounting treatment of PPP projects in the international community.China has only made relevant regulations on the accounting treatment of enterprise operators in BOT projects,so there is still a lack of relevant research on the accounting treatment standards of the grantees in PPP projects.On the basis of learning from foreign experience,this paper puts forward Suggestions on how to confirm,measure and disclose the grantor in PPP projects.In view of the diversity of PPP cooperation models,this paper defines PPP projects as the arrangement of government and social capital cooperation to provide public infrastructure.Meanwhile,from the perspective of the grantor,the accounting treatment of the grantor in PPP projects is defined as the recognition,measurement and disclosure of related assets and liabilities.In this paper,the current relatively mature about PPP project on international accounting regulations,carry out analysis and comparison,the project assets and liabilities based on the following two accounting principles confirmed: "the risk compensation method" and "control",by studying the merits of the two principles,and combined with the characteristics of PPP projects in China,Suggestions grant party adopts the principle of "control" in our country business accounting;By analyzing the measurement of the assets and liabilities of PPP projects,it is suggested that it is appropriate for the grantor to adopt the fair value model for the measurement.At the same time,this paper also studies the accounting treatment of relevant resource inflow received by government departments from enterprise operators,and suggests that government departments recognize it as income when receiving such resource inflow.It is also recommended to use the value-for-money evaluation adopted by our government departments in the demonstration of PPP projects when measuring liabilities.In view of the complexity of PPP projects and the pilot process of PPP projects in China,the research in this paper is based on existing literature data.With the development of PPP projects,the conclusions of this paper need to be further verified.