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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 ''out ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting
Accounting, also known as accountancy, is the process of recording and processing information about economic entity, economic entities, such as businesses and corporations. Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and Regulatory agency, regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used interchangeably. Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers. Management accounting focuses on the measurement, analysis and reporting of information for internal use by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Accounting
Social accounting (also known as social and environmental accounting, corporate social reporting, corporate social responsibility reporting, non-financial reporting or non-financial accounting) is the process of communicating the social and environmental effects of organizations' economic actions to particular interest groups within society and to society at large. Social Accounting is different from public interest accounting as well as from critical accounting. Social accounting is commonly used in the context of business, or corporate social responsibility (CSR), although any organisation, including NGOs, charities, and government agencies may engage in social accounting. Social Accounting can also be used in conjunction with community-based monitoring (CBM). Social accounting emphasises the notion of corporate accountability. D. Crowther defines social accounting in this sense as "an approach to reporting a firm's activities which stresses the need for the identification o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross Output
In economics, gross output (GO) is a measure of the value of production of new goods and services during an accounting period. Gross output represents the total value of ''sales'' by producing enterprises (their gross revenue or turnover) in an accounting period (a quarter or a year), before subtracting the value of intermediate goods used up in production from the value of sales. Gross output can also be defined as the value of net output (the gross value-added or GDP) ''plus'' the value of intermediate consumption. Gross output is therefore a broader measure of the value of production than gross domestic product (GDP), which measures only the net value of final output (finished goods and services). , for example, the Bureau of Economic Analysis estimated gross output in the United States to be $50.9 trillion, compared to $29.3 trillion for GDP. Gross output and net output are complementary measures of the value of production. The components of gross output provide extra in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value-added
Value added is a term in economics for calculating the difference between market value of a product or service, and the sum value of its constituents. It is relatively expressed by the demand curve, supply-demand curve for specific units of sale. Value added is distinguished from the accounting term added value which measures only the financial profits earned upon transformational processes for specific items of sale that are available on the market. In business, ''total value added'' is calculated by tabulating the ''unit value added'' (measured by summing unit Profit (accounting), profit — the difference between Price, sale price and production cost, unit depreciation cost, and unit Direct labor cost, labor cost) per each unit sold. Thus, total value added is equivalent to revenue minus intermediate consumption. Value added is a higher portion of revenue for Integrated business planning, integrated companies (e.g. manufacturing companies) and a lower portion of revenue for less ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Net Output
Net output is an accounting concept used in national accounts such as the United Nations System of National Accounts (UNSNA) and the NIPAs, and sometimes in corporate or government accounts. The concept was originally invented to measure the total net addition to a country's stock of wealth created by production during an accounting interval. The concept of net output is basically "gross revenue from production ''less'' the value of goods and services ''used up'' in that production". The idea is that if one deducts intermediate expenditures from the annual flow of income generated by production, one obtains a measure of the net new value of the new goods and services created. Definition In national accounts, net output is equivalent to the gross value added during an accounting period when producing enterprises use inputs (labor and capital assets) to produce outputs. Gross value added is called "gross" because it includes depreciation charges (or more precisely, consumption ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Theory
Value theory, also called ''axiology'', studies the nature, sources, and types of Value (ethics and social sciences), values. It is a branch of philosophy and an interdisciplinary field closely associated with social sciences such as economics, sociology, anthropology, and psychology. Value is the worth of something, usually understood as covering both positive and negative degrees corresponding to the terms ''good'' and ''bad''. Values influence many human endeavors related to emotion, decision-making, and Action (philosophy), action. Value theorists distinguish various types of values, like the contrast between Instrumental and intrinsic value, intrinsic and instrumental value. An entity has Intrinsic value (ethics), intrinsic value if it is good in itself, independent of external factors. An entity has instrumental value if it is useful as a means leading to other good things. Other classifications focus on the type of benefit, including economic, moral, political, aesthetic, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Metaphysics
Metaphysics is the branch of philosophy that examines the basic structure of reality. It is traditionally seen as the study of mind-independent features of the world, but some theorists view it as an inquiry into the conceptual framework of human understanding. Some philosophers, including Aristotle, designate metaphysics as first philosophy to suggest that it is more fundamental than other forms of philosophical inquiry. Metaphysics encompasses a wide range of general and abstract topics. It investigates the nature of existence, the features all entities have in common, and their division into categories of being. An influential division is between particulars and universals. Particulars are individual unique entities, like a specific apple. Universals are general features that different particulars have in common, like the color . Modal metaphysics examines what it means for something to be possible or necessary. Metaphysicians also explore the concepts of space, time, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock And Flow
Economics, business, accounting, and related fields often distinguish between quantities that are stocks and those that are flows. These differ in their units of measurement. A ''stock'' is measured at one specific time, and represents a quantity existing at that point in time (say, December 31, 2004), which may have capital accumulation, accumulated in the past. A ''flow'' variable is measured over an interval of time. Therefore, a flow would be measured ''per unit of time'' (say a year). Flow is roughly analogous to Rate (mathematics), rate or speed in this sense. For example, U.S. nominal gross domestic product refers to a total number of dollars spent over a time period, such as a year. Therefore, it is a flow variable, and has units of dollars/year. In contrast, the U.S. nominal Capital (economics), capital stock is the total value, in dollars, of equipment, buildings, and other real productive assets in the U.S. economy, and has units of dollars. The diagram provides an intui ... [...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 Scientific technique, 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 methodology, 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 transacti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Relations
A social relation is the fundamental unit of analysis within the social sciences, and describes any voluntary or involuntary interpersonal relationship between two or more conspecifics within and/or between groups. The group can be a language or kinship group, a social institution or organization, an economic class, a nation, or gender. Social relations are derived from human behavioral ecology, and, as an aggregate, form a coherent social structure whose constituent parts are best understood relative to each other and to the socioecology, social ecosystem as a Holism in science, whole. History Early inquiries into the nature of social relations featured in the work of sociologists such as Max Weber in his theory of social action, where social relationships composed of both positive (affiliative) and negative (agonistic) interactions represented opposing effects. Categorizing social interactions enables observational and other social research, such as Gemeinschaft and Gesellschaf ... [...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 Scientific technique, 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 methodology, 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 transacti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations System Of National Accounts (UNSNA)
The System of National Accounts or SNA (until 1993 known as the United Nations System of National Accounts or UNSNA) is an international standard system of concepts and methods for national accounts. It is nowadays used by most countries in the world. The first international standard was published in 1953. Manuals have subsequently been released for the 1968 revision, the 1993 revision, and the 2008 revision. The draft version for the SNA 2025 revision was adopted by the United Nations Statistical Commission at its 56th Session in March 2025. Behind the accounts system, there is also a system of people: the people who are cooperating around the world to produce the statistics, for use by government agencies, businesspeople, academics and interest groups from all nations. The aim of SNA is to provide an integrated, complete system of standard national accounts, for the purpose of economic analysis, policy-making and decision-making. When individual countries use SNA standards to g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
