B20 Accounting treatment draws a distinction between property - which may be booked as an asset - and services, which are accounted for as current expenditure. It is not generally accepted practice to account for future service payments under a contract as an asset by, for instance, capitalising their present value. The issue of importance when accounting for PFI projects, therefore, is whether, on balance, to regard the resulting property as an asset of the Government or to report the stream of unitary charge payments as expenditure in the year in which they occur.