Naslov
Accounting model for monitoring capital projects financed through blending public-private partnerships with EU funds in Croatia

Autori
Vašiček, Davor ; Čičak, Josip ; Sikirić, Ana Marija

Vrsta, podvrsta i kategorija rada
Poglavlja u knjigama, znanstveni

Knjiga
Contemporary Economic and Business Issues

Urednik/ci
Drezgić, Saša ; Host, Alen ; Tomljanović, Marko ; Žiković, Saša

Izdavač
Ekonomski fakultet Sveučilišta u Rijeci

Grad
Rijeka

Godina
2021

Raspon stranica
203-216

ISBN
978-953-7813-62-8

Ključne riječi
capital projects, public-private partnership, funding sources, EU funds

Sažetak
In the absence of one’s own financing resources and due to limited borrowing opportunities, both public and private investors are increasingly questioning opportunities and economic justification in using modern approaches to financing capital projects. For a long time, this has been the public-private partnership model, especially private finance initiative. A particularly attractive and desirable form of financing are grants from EU funds, but which are progressively making way for financial instruments. Accounting tracking of capital projects when using modern forms of financing, and the blending of these forms, requires identifying new and appropriate accounting models to conform to scientific and legal frameworks establish at the international and national level. To create such models, a systematic qualitative analysis is required of the traditional project financing model, the public project financing model using ESIF grants, basic forms of PPPs and financial instruments. By combining or blending these models, a hybrid accounting model for processing blended projects can be defined. The analysis is based on current and recent legal as well as professional frameworks given in the International Financial Reporting Standards for entrepreneurs (IFRS) and the public sector (IPSAS), statistical requirements for asset and public debt classification, and recognition of income and expenses (ESA 2010), EU legislation and national legislation (Croatian Accounting Act/Croatian Standards of Financial Reporting), the Croatian Budget Act and the respective subordinate legislation, including tax regulations, EU Regulations). This paper presents the results of a qualitative analysis, on the basis of which the authors propose an accounting model for these financially complex investment activities.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA