Out of the blue...and into the red
Leftly, Mark
Out of the blue...and into the red - 2007 - Building 272(8465) 2 February 2007, 30-32(3) .
Reports on the argument in Treasury over whether to remove Technical Note 1 to Application Note F of Financial Reporting Standard 5, and the possible implications for PFI transactions. Application Note F was intended to help finance teams from the private and public sector to decide whether or not PFI schemes should be on their respective balance sheets. However, an alternative means of calculation (Technical Note 1) was issued for Treasury's civil servants, which is now accused of bias. Suggests that if departments assess PFI transactions using the same model as the private sector, more PFIs are likely to become public liabilities and this could mean the end of many PFIs. Also warns of the national debt implications if the removal of Technical Note 1 is enforced retrospectively.
PRIVATE FINANCE INITIATIVE
FINANCIAL REPORTING STANDARD 5
United Kingdom--
Out of the blue...and into the red - 2007 - Building 272(8465) 2 February 2007, 30-32(3) .
Reports on the argument in Treasury over whether to remove Technical Note 1 to Application Note F of Financial Reporting Standard 5, and the possible implications for PFI transactions. Application Note F was intended to help finance teams from the private and public sector to decide whether or not PFI schemes should be on their respective balance sheets. However, an alternative means of calculation (Technical Note 1) was issued for Treasury's civil servants, which is now accused of bias. Suggests that if departments assess PFI transactions using the same model as the private sector, more PFIs are likely to become public liabilities and this could mean the end of many PFIs. Also warns of the national debt implications if the removal of Technical Note 1 is enforced retrospectively.
PRIVATE FINANCE INITIATIVE
FINANCIAL REPORTING STANDARD 5
United Kingdom--