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United Nations System Of National Accounts
The System of National Accounts (often abbreviated as SNA; formerly the United Nations System of National Accounts or UNSNA) is an international standard system of national accounts, the first international standard being published in 1953. Handbooks have been released for the 1968 revision, the 1993 revision, and the 2008 revision. The System of National Accounts, in its various released versions, frequently with significant local adaptations, has been adopted by many nations. It continues to evolve and is maintained by the United Nations, the International Monetary Fund, the World Bank, the Organisation for Economic Co-operation and Development and Eurostat. The aim of SNA is to provide an integrated, complete system of accounts enabling international comparisons of all significant economic activity. The suggestion is that individual countries use SNA ''as a guide'' in constructing their own national accounting systems, to promote international comparability. However, adheren ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Accounts
National accounts or national account systems (NAS) are the implementation of complete and consistent accounting techniques for measuring the economic activity of a nation. These include detailed underlying measures that rely on double-entry accounting. By design, such accounting makes the totals on both sides of an account equal even though they each measure different characteristics, for example production and the income from it. As a method, the subject is termed national accounting or, more generally, social accounting.Nancy D. Ruggles, 1987. "social accounting," '' The New Palgrave: A Dictionary of Economics'', v. 4, pp. 377–82. Stated otherwise, national accounts as ''systems'' may be distinguished from the economic data associated with those systems. While sharing many common principles with business accounting, national accounts are based on economic concepts. One conceptual construct for representing flows of all economic transactions that take place in an econom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph Stiglitz
Joseph Eugene Stiglitz (; born February 9, 1943) is an American New Keynesian economist, a public policy analyst, and a full professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is a former senior vice president and chief economist of the World Bank. He is also a former member and chairman of the (US president's) Council of Economic Advisers. He is known for his support of Georgist public finance theory and for his critical view of the management of globalization, of ''laissez-faire'' economists (whom he calls " free-market fundamentalists"), and of international institutions such as the International Monetary Fund and the World Bank. In 2000, Stiglitz founded the Initiative for Policy Dialogue (IPD), a think tank on international development based at Columbia University. He has been a member of the Columbia faculty since 2001, and received the university's highest academic rank ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Formation
Capital formation is a concept used in macroeconomics, national accounts and financial economics. Occasionally it is also used in corporate accounts. It can be defined in three ways: *It is a specific statistical concept, also known as net investment, used in national accounts statistics, econometrics and macroeconomics. In that sense, it refers to a measure of the ''net additions'' to the (physical) capital stock of a country (or an economic sector) in an accounting interval, or, a measure of the amount by which the total physical capital stock ''increased'' during an accounting period. To arrive at this measure, standard valuation principles are used. *It is used also in economic theory, as a modern general term for capital accumulation, referring to the total "stock of capital" that has been formed, or to the growth of this total capital stock. *In a much broader or vaguer sense, the term "capital formation" has in more recent times been used in financial economics to refer to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Compensation Of Employees
{{no footnotes, date=April 2010 Compensation of employees (CE) is a statistical term used in national accounts, balance of payments statistics and sometimes in corporate accounts as well. It refers basically to the total gross (pre-tax) wages paid by employers to employees for work done in an accounting period, such as a quarter or a year. However, in reality, the aggregate includes ''more'' than just gross wages, at least in national accounts and balance of payments statistics. The reason is that in these accounts, CE is defined as "the total remuneration, in cash or in kind, payable by an enterprise to an employee in return for work done by the latter during the accounting period". It represents effectively a total labour cost to an employer, paid from the gross revenues or the capital of an enterprise. Compensation of employees is accounted for on an accrual basis; i.e., it is measured by the value of the remuneration in cash or in kind which an employee ''becomes entitled to r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Operating Surplus
Operating surplus is an accounting concept used in national accounts statistics (such as United Nations System of National Accounts (UNSNA)) and in corporate and government accounts. It is the balancing item of the Generation of Income Account in the UNSNA. It may be used in macro-economics as a proxy for total pre-tax profit income, although entrepreneurial income may provide a better measure of business profits. According to the 2008 SNA, it is the measure of the surplus accruing from production before deducting property income, e.g., land rent and interest. Operating surplus is a component of value added and GDP. The term "mixed income" is used when operating surplus cannot be distinguished from wage income, for example, in the case of sole proprietorships. Most of operating surplus will normally consist of gross profit income. In principle, it includes the (separately itemised) increase in the value of output inventories held, with or without a valuation adjustment refle ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Double Counting (accounting)
Double counting in accounting is an error whereby a transaction is counted more than once, for whatever reason. But in social accounting it also refers to a conceptual problem in social accounting practice, when the attempt is made to estimate the new value added by Gross Output, or the value of total investments. What is the problem? In the case of a small individual business or having such utility, it is unlikely that an expenditure of funds, an input or output, or an income from production will be counted twice. If it happens, that's usually just bad accounting (a math error), or else a case of fraud. But things are more complicated when we aggregate the accounts of many enterprises, households and government agencies ("institutional units" or transactors in social accounting language). Here, a conceptual problem arises. The basic reason is that the ''income'' of one institutional unit is the ''expenditure'' of another, and the ''input'' of one institutional unit is the ''outp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Surplus Value
In Marxian economics, surplus value is the difference between the amount raised through a sale of a product and the amount it cost to the owner of that product to manufacture it: i.e. the amount raised through sale of the product minus the cost of the materials, plant and labour power. The concept originated in Ricardian socialism, with the term "surplus value" itself being coined by William Thompson in 1824; however, it was not consistently distinguished from the related concepts of surplus labor and surplus product. The concept was subsequently developed and popularized by Karl Marx. Marx's formulation is the standard sense and the primary basis for further developments, though how much of Marx's concept is original and distinct from the Ricardian concept is disputed (see ). Marx's term is the German word "''Mehrwert''", which simply means value added (sales revenue minus the cost of materials used up), and is cognate to English "more worth". It is a major concept in Ka ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Product
The ''value product'' (VP) is an economic concept formulated by Karl Marx in his critique of political economy during the 1860s, and used in Marxian social accounting theory for capitalist economies. Its annual monetary value is approximately equal to the netted sum of six flows of income generated by production: *wages and salaries of employees. *profit including distributed and undistributed profit. *interest paid by producing enterprises from current gross income *rent paid by producing enterprises from current gross income, including land rents. * tax on the production of new value, including income tax and indirect tax on producers. * fees paid by producing enterprises from current gross income, including: royalties, certain honorariums and corporate officers' fees, various insurance charges, and certain leasing fees incurred in production and paid from current gross income. The last five money-incomes are components of realized surplus value. In principle, the value ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Added
In business, total value added is calculated by tabulating the unit value added (measured by summing unit profit sale price and production cost">Price.html" ;"title="he difference between Price">sale price and production cost], unit depreciation cost, and unit Direct labor cost, labor cost) per each unit of product sold. Thus, total value added is equivalent to revenue minus intermediate consumption. Value added is a higher portion of revenue for integrated companies (e.g. manufacturing companies) and a lower portion of revenue for less integrated companies (e.g. retail companies); total value added is very closely approximated by compensation of employees, which represents a return to labor, plus earnings before taxes, representative of a return to capital. In economics, specifically macroeconomics, the term value added refers to the contribution of the factors of production (i.e. capital and labor) to raise the value of the product and increase the income of those who own the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Christine Lagarde
Christine Madeleine Odette Lagarde (; née Lallouette, ; born 1 January 1956) is a French politician and lawyer who has been serving as President of the European Central Bank since 2019. She previously served as the 11th managing director of the International Monetary Fund (IMF) from 2011 to 2019. Lagarde had also served in the Government of France, most prominently as minister of the economy, finance and industry from 2007 to 2011. She was the first woman to hold each of those posts. Born and raised in Paris, Lagarde graduated from law school at Paris Nanterre University and obtained a Master's degree from Sciences Po Aix. After being admitted to the Paris Bar, she joined the multinational law firm Baker & McKenzie as an associate in 1981, specializing in labor, anti-trust, as well as mergers and acquisitions. Rising through the ranks, she was a member of the executive committee of the firm from 1995 until 1999, before being elevated to its Chair between 1999 and 2004; she w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Time Use Survey
A time-use survey is a statistical survey which aims to report data on how, on average, people spend their time. Objectives The objective of the Time-Use survey is to identify, classify and quantify the main types of activity that people engage in during a definitive time period, e.g. a year, a month, etc. Many surveys are used for calculation of unpaid work done by women as well as men in particular locality. File:Time spent on activities on an average day, by sex, Sweden, OWID.svg File:Time spent on domestic work, per day, men vs women, OWID.svg File:Time spent on free time activities, per day, men vs women, OWID.svg File:Time spent on gainful work-study, per day, men vs women, OWID.svg File:Time spent on leisure, per day, men vs women, OWID.svg File:Time spent on leisure, social, and associative life per day, OWID.svg File:Time spent on meals and personal care, per day, men vs women, OWID.svg File:Time spent on paid work or study, per day, men vs women, OWID.svg File:Time ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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