BIM64070 - Measuring the profits (particular trades): Private Finance Initiative (PFI): accounting: contents

The following summary of the accounting treatment of PFI projects is intended to provide background information only. The accounting treatment of such projects continues to evolve and HMRC Officers should refer any questions, concerning what constitutes generally accepted accounting practice, to their local compliance/advisory accountant.

Guidance on the accounting treatment to be used when dealing with PFI and similar contracts is provided by FRS5 Application Note F ‘Reporting the substance of transactions: PFI and similar contracts’.

The background information is set out as follows: