Transcript Updating the 1993 SNA

Updating the 1993 SNA
Anne Harrison
Editor of the update
[email protected]
Overview only
• Full documentation on UN web site
• http://unstats.un.org/unsd/nationalaccount/
snarev1.asp
Recommendations
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Topic-specific expert groups
44 issues
AEG has had four meetings
Full list of provisional recommendations
And..
• Clarifications
• Consistency issues
Pensions
• Funded pension schemes
• Show liabilities of schemes (not just
assets)
• Contributions of employer and employee
represent pension entitlement earned in a
year
• For defined benefit schemes, property
income represents increase in past
pension entitlement during the year
Problem area
• Unfunded schemes of government
• Difficulty of separating from social security
• May go with supplementary table to permit
some latitude in application of
recommendations
Non-financial assets
• R&D – Frascati data to be treated as fixed
capital
• Capital services
• Contracts, leases and licences
• Intangible assets – capture of ”excess
profits” from imperfect market brought
about by restrictions
Financial services
• FISIM – withdraw option not to allocate
• Use a reference rate
• Allow service on lending of own funds
including money lenders
• Buy/sell margins on dealing in securities
and equities
Insurance
• Use expected claims not actual and
smooth premium supplements also
• Have a link to monetary and financial
statistics
Government
• New chapter on government and public
sectors
• Delineation of units under control of govt
• Greater precision on ”economically
significant prices”
• Guarantees
• PPP
Rest of the world
• Goods for processing – goods enter and
then leave country without changing
ownership
• Change to follow strictly change of
ownership principle ie no imports and
exports recorded for original value,
difference is shown as processing fee
• Apply to inter-establishment deliveries only
Merchanting
• Goods bought and then sold without
physically entering the country
• Show as negative exports and then
positive exports (at a higher value)
• Parallel with domestic wholesale and retail
• May have inventories held in ROW
Units
• Units with no physcial presence or
employees
• Government SPVs
• Holding companies
Developing country concerns
• Globalisation
• Informal economy
• Migrant workers and international
remittances
• NPIs and their role in international relief
efforts
• Debt concessionality and restructuring
1993 SNA Rev1
Will I recognise the book?
Part 1 Introduction and overview
Part 2 Accounting conventions
• 1 Introduction
• 2 Overview
• 3 Flows, stocks and accounting rules
• 4 Institutional units and sectors
• 5 Establishments and industries
Part 3 The sequence of accounts
• 6 The production account
• 7 The distribution of primary income
account
• 8 The secondary distribution of income
account
• 9 The use of income account
Part 3 cont
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10 The capital account
11 The financial account
12 Other changes in assets accounts
13 The balance sheet
Part 4: Integration and elaboration
of the accounts
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14 Typical summary presentations
15 Supply and use tables and input-output
16 Prices and volumes measures
17 The role of capital services in the
accounts
• 18 Cross-cutting and other special issues
Part 5: Interpretation of the
accounts and extensions
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19 Measuring corporate activity
20 The government and public sectors
21 Non-profit institutions in the System
22 Households
23 The informal sector
24 The rest of the world account (external
transactions account)
Part 5 cont
• 25 The link to financial and monetary
statistics
• 26 Population and labour inputs
• 27 Satellite accounts and other extensions
of the System
• Annex 1: Classifications
• Annex2: Accounts
Electronic annexes
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Multiple exchange rates
PPPs
Changes since 1993
?Input-output