Strategic integration of accounting and budgeting practices into the project cycle of public–private partnerships

Methods. The methodological foundation of the study is based on a set of complementary methods that ensured the achievement of the stated research objective. The method of comparative analysis was applied to juxtapose accounting and budgeting models used in international public– private partnership (PPP) practices and to identify their points of integration and divergence. Systems analysis was employed to construct the author’s strategic integration model «4D-Govern» and to differentiate the roles, instruments, and principles of accounting and budgeting across each stage of the PPP project lifecycle. Risk analysis and scenario modelling techniques formed the basis for examining the financial obligations of the parties (including hidden and deferred liabilities) in budget planning and accounting. Institutional analysis was used to substantiate the problem of incompatibility between fragmented managerial decisions and the long-term nature of PPPs. Results. A conceptual approach to the strategic integration of accounting and budgeting practices into the project cycle of PPPs has been substantiated, taking into account the phased implementation of partnership projects and the roles of key stakeholders. Contemporary international approaches to accounting and budgeting within PPP frameworks have been analyzed, revealing key points of convergence and identifying substantial gaps. The study explored how financial obligations of the parties – particularly hidden or deferred commitments – are reflected in accounting and budget planning throughout the PPP lifecycle. It was established that insufficient disclosure of such obligations increases the risks of budgetary opacity, future fiscal burden, and diminished accountability of the public partner. A model of strategic integration of accounting and budgeting practices has been proposed, incorporating principles of managerial responsibility, transparency, control, and adaptability at all stages of project implementation – from initiation to completion. Novelty. A model of strategic integration of accounting and budgeting practices has been developed, encompassing all stages of PPP implementation – from initiation to completion – and based on the principles of managerial responsibility, transparency, control, and adaptability. Its conceptual foundation is formed by four governance principles: Direction, Disclosure, Discipline, and Dynamics, which together establish a comprehensive framework for ensuring effective financial support throughout the PPP project cycle. Practical value. The proposed model of strategic integration of accounting and budgeting practices into the PPP project cycle has practical significance for shaping institutional mechanisms of financial transparency, accountability, and effective risk allocation. It can serve as an analytical tool for improving approaches to planning, monitoring, and evaluating partnership projects in both public and corporate governance.