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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.
National accounts consist of a systematic presentation of estimated money value of these and other such macroeconomic aggregates relating to national income and wealth.
The System of National Accounts (SNA) is the internationally agreed standard set of recommendations on how to compile measures of economic activity.
- What This Chapter Seeks to Do
- Introduction
- Concepts
- Sectors
- Classifications
- Accounting Rules
- The Sequence of Accounts in SNA 2008
The national accounts provide a simplified picture of a very complex economic reality—the economy. This chapter introduces and explains key ideas and categorizations comprising that picture and describes the international standard 'sequence of accounts'—an accounting framework that holds the picture together. Later chapters expand upon these concep...
The economy—we hear about it every day in the news. But what is an economy? It is a wide network of economic agents—households, businesses, governments and non-residents—engagingin production, distribution, consumption, saving and investing activities within a specified geographical region. Canada's system of macroeconomic accounts aims to describe...
Modern economies are complicated. They typically involve a great many players—individuals, households, businesses, non-profit organizations, government organizations—interacting day after day, each to achieve their individual objectives. In the national accounts, the players are termed 'institutional units' and they are grouped into 'institutional ...
There are many players, or institutional units as they are called in the SNA, involved in Canada's economy: 1. approximately 2 million businesses, most of them very small but some quite big; 2. over 5,000 governments—federal, provincial, territorial, municipal and aboriginal; 3. about 35 million residents, living in about 13 million households; 4. ...
The various classification systems of the national accounts can be considered the skeleton of the system. By collapsing the enormous detail that makes up the economy, involving millions of households, businesses, products and financial instrument types, into a relatively small number of categories these classifications greatly simplify the system, ...
Accounting involves the measurement, processing and communication of financial information about the economic activities of an institutional unit. Modern accounting practice is central to the smooth functioning of the market economy as it provides vital information to managers, investors, creditors, regulators—and national accounts statisticians. T...
At the total economy level, the essence of the national accounts is found in four tables: one recording gross domestic product at market prices based on the final expenditures approach, another showing GDP at market prices based on the primary input expenses approach, a third displaying GDP at basic prices based on the gross value added by industry...
This second edition of Understanding National Accounts, that provides a comprehensive explanation of how national accounts are compiled, contains new data and new chapters, and is adapted to the new systems of national accounts, SNA 2008 and ESA 2010, that came into effect in September 2014.
National accounts are a system of accounts and balance sheets that provide a broad and integrated framework to describe an economy, whether a region, a country, or a group of countries such as the European Union (EU).
Apr 10, 2019 · National accounts or national account systems (NAS) are defined as a measure of macroeconomic categories of production and purchase in a nation. These systems are essentially methods of accounting used to measure the economic activity of a country based on an agreed upon framework and set of accounting rules.
