Basis of Financial and Management Accounting Formation Within a Concession Company

The article presents the main types of concessions and their Russian application. The article covers the principal statements on financial and management accounting maintenance within a concession company. The importance of the accounting division into the financial and management ones is defined in the article. The article outlines the options for concessional assets disclosure in the accounts. The article compares two accounting models: an international model of financial accounting and a traditional financial accounting system. The international financial accounting model applicability for a concession company is concluded. The use of new management accounting tools is substantiated. The authors assume the accounting engineering tools to facilitate goals achievement and concessional assets analysis, valuation and management. Such tools can be represented by derivative balance sheets aimed at a company valuation, taking into account the influence of various external and internal factors. Keywords—concession agreement; concession; accounting engineering tools; derivative balance sheet; international model; management accounting .