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European System Of Accounts
The European System of Accounts (ESA) is the system of national accounts and regional accounts used by members of the European Union. It was most recently updated in 2010 (ESA 2010). The ESA 95 is fully consistent with the United Nations System of National Accounts (1993 SNA) in definitions, accounting rules and classifications. However, it incorporates certain differences, particularly in its presentation, that are more in line with use within the European Union. The ESA 95 underwent revisionto meet the requirements of the update of the SNA 1993 launched in 2003 under the auspices of the United Nations. See also * Balance of payments * Capital account * Gross national income in the European Union *Gross output *Net output *Value added In business, total value added is calculated by tabulating the unit value added (measured by summing unit profit Price.html" ;"title="he difference between Price">sale price and production cost], unit depreciation cost, and unit Direct labor co ... [...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 econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a ''sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agree ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmonizi ..., 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balance Of Payments
In international economics, the balance of payments (also known as balance of international payments and abbreviated BOP or BoP) of a country is the difference between all money flowing into the country in a particular period of time (e.g., a quarter or a year) and the outflow of money to the rest of the world. These financial transactions are made by individuals, firms and government bodies to compare receipts and payments arising out of trade of goods and services. The balance of payments consists of two components: the current account and the capital account. The current account reflects a country's net income, while the capital account reflects the net change in ownership of national assets. History Until the early 19th century, international trade was heavily regulated and accounted for a relatively small portion compared with national output. In the Middle Ages, European trade was typically regulated at municipal level in the interests of security for local industr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Account
In macroeconomics and international finance, the capital account, also known as the capital and financial account records the net flow of investment transaction into an economy. It is one of the two primary components of the balance of payments, the other being the current account. Whereas the current account reflects a nation's net income, the capital account reflects net change in ownership of national assets. A surplus in the capital account means money is flowing into the country, but unlike a surplus in the current account, the inbound flows effectively represent borrowings or sales of assets rather than payment for work. A deficit in the capital account means money is flowing out of the country, and it suggests the nation is increasing its ownership of foreign assets. The term "capital account" is used with a narrower meaning by the International Monetary Fund (IMF) and affiliated sources. The IMF splits what the rest of the world calls the capital account into two top-l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross National Income In The European Union
Gross national income at market prices in the European Union of 27 Member States (GNI) amounted to EUR 44.778 per inhabitant in 2020. In 2007, the highest per capita GNI measured i purchasing power standards (PPS)was recorded for Luxembourg (more than twice of the EU-27 average) and the lowest was recorded for Bulgaria (less than half of the EU-27 average). Estonia, Ireland, Latvia and Lithuania were the Member States that in 2009 suffered the most from the recession In economics, a recession is a business cycle contraction when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). This may be triggered by various ... experiencing declines of more than 10% in GNI (measured in PPS) over 2008. Definition of GNIGNIis defined in accordance with the European system of national and regional accounts. GNI represents totaprimary incomereceivable bresident institutional units [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross Output
In economics, gross output (GO) is the measure of total economic activity in the production of new goods and services in an accounting period. It is a much broader measure of the economy than gross domestic product (GDP), which is limited mainly to final output (finished goods and services). As of first-quarter 2019, the Bureau of Economic Analysis estimated gross output in the United States to be $37.2 trillion, compared to $21.1 trillion for GDP. GO is defined by the Bureau of Economic Analysis (BEA) as "a measure of an industry's sales or receipts, which can include sales to final users in the economy (GDP) or sales to other industries (intermediate inputs). Gross output can also be measured as the sum of an industry's value added and intermediate inputs." It is equal to the value of net output or GDP (also known as gross value added) ''plus'' intermediate consumption. Gross output represents, roughly speaking, the total value of ''sales'' by producing enterprises (thei ... [...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 in the new products 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 consumption of fixed capital. The calcu ... [...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 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 said factors. Therefore, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
