The fundamental issue associated with accounting for PPP assets is which party (that is, the government or the private operator) records the asset in its financial reports? Under the concept of control, actual ownership of the asset does not automatically mean that the owner will record the asset. The party that accepts the majority of risks and derives economic benefits from the asset will, in most cases, record the PPP asset in its financial reports. Notwithstanding this concept, three methods are available to determine the party who records the asset. Each method is open to different interpretations, creating potential for inconsistent accounting treatment of similar arrangements.