Financial services in the 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.

System of National Accounts 1993 update

ISIC aggregations for SNA data reporting

While sharing many common principles with business accounting, national accounts are based on economic concepts.

The Intersecretariat Working Group on National Accounts is responsible for leading the updating work on 1993 SNA, Rev.1.

If you have any questions, you can ask this guy, who's our director of national programs. He'll be on the phone.

In fact, there is a need to integrate the national accounts perspective into the development work in these three areas.

Stated otherwise, national accounts as systems may be distinguished from the economic data associated with those systems.

The Director of External Audit of the Philippines and Chairman of the Audit Operations Committee of the Board of Auditors, Mr. Sabiniano Cabatuan, introduced the reports of the Board of Auditors (A 60 5 Add.5 and A 60 113).

While the implications and anticipated resolutions of the SNA issues with respect to the ISIC have been considered, additional issues may arise during the SNA update that may no longer be reflected in the ISIC if the complete alignment with NACE at all levels of the classification is to be maintained.

The proposal has been submitted to the SNA Advisory Expert Group for its approval in January 2006.

It is planned to extend these to reflect the needs stemming from the revision of SNA 1993 and to include recommendations on measurement of service activities (the agenda and papers of the expert group meeting can be found at http unstats.un.org unsd industry meetings eg2005 ac105 2.asp).

National accounts can be presented in nominal or real amounts, with real amounts adjusted to remove the effects of price changes over time.

In addition, issues arising out of the revision of the 1993 SNA have been considered in making the CPC a better tool within the SNA framework, such as the consistent introduction of the concept of originals and copies in the classification.

A quality assessment framework, based on quality frameworks for other statistical standards, such as the 1993 SNA and the Balance of Payments Manual, fifth edition, could be developed for SEEA.

The consistency of the environmental and economic information of SNA add considerable value to both the environmental and economic information and improve the quality of both statistics.

Agreements reached so far in the SNA update process have been incorporated into the ISIC revision. The Statistical Commission has recognized that the SNA revision process extends beyond the deadline for the completion of the ISIC.

That proposal will be discussed at the fourth meeting of the Advisory Expert Group on National Accounts in January and February 2006.

The Director of the Office of Audit and Performance Review has been made directly responsible for ensuring that this is done, thus strengthening the review of audit reports on nationally executed expenditure.

While undertaking these revisions of manuals and handbooks, consistency with the 1993 SNA and its forthcoming revision and other international guidelines and manuals should be ensured.

Net Material Product (NMP) was the main macroeconomic indicator used for monitoring growth in national accounts of socialist countries during the Soviet era.

One important development was the publication by the United Nations in 2003 of the Handbook on Non Profit Institutions in the System of National Accounts.1 This calls on national statistical offices to prepare a satellite account on the non profit sector, including the value of voluntary action, as part of their regular economic data gathering and reporting.

On July 4, Pedro Astete, director of national archaeological park of Machu Picchu, reported the finding of two new rock paintings, close to the ruins of the most famous Inca city in the world

Work on the high level aggregation structures of the International Standard Industrial Classification of All Economic Activities, suitable for National Accounts purposes, was still in progress, with a proposal being considered at the time of the writing of the present report.

It stressed the importance of linking the release of SEEA with the release of other international standards, such as the updated 1993 SNA and the revised Balance of Payments Manual, which will be issued in 2008.

Questions on the scope of the CPC, in particular a better understanding of the boundary between the product classification and an asset classification, have been resolved in cooperation with experts on National Accounts.

Regarding data compilation, the experts agreed that high priority should be given to the identification and collection of data items needed by the distributive trade industry and by compilers of national accounts.

The definitions of data items should be consistent with the definitions already approved by the Statistical Commission in related areas (e.g., the system of national accounts and labour statistics).

Further information on the issues being considered for the SNA update and progress can be found at http unstats.un.org unsd sna1993 issues.asp.

The correspondence table between the Central Product Classification and the Extended Balance of Payments Statistics will be revised in line with the revisions and clarifications arising from the revision of the System of National Accounts, the Balance of Payments Manual and the Central Product Classification revision.

In the design of the World Programme for the Census of Agriculture 2010, concepts and principles of the SNA and the ISIC have been used to define the agricultural census units, agricultural activities and the scope of the agricultural census.

In particular, the Division will focus on strengthening country capacities to conduct the decennial censuses, as well as relevant social and economic surveys, to produce national accounts and to develop systems of environmental statistics.

Nationalism and Terrorism

One use of economic growth data from the national accounts is in growth accounting across longer periods of time for a country or across to estimate different sources of growth, whether from growth of factor inputs or technological change.

Expressing his delegation's full support for the way in which the External Auditor had performed his duties, he said it would be particularly important to maintain stability and continuity as the Organization entered a new phase under a new Director General.

Palestinian nationalism has been compared to other nationalist movements, such as Pan Arabism and Zionism.

India

The Administrator is pleased to report that all 80 recommendations made by the Board of Auditors either have been implemented (65 per cent) or are in the process of being implemented (35 per cent).

Islands of Nationalism

Nationalism, Madness, and Terrorism

In the present context it is important to note that the update of the 1993 System of National Accounts (SNA) is considering a number of issues relevant for the ISIC revision, such as the treatment of ancillary units and financial services.

Usually, the team will be led by a manager with significant experience at managing director level.

(b) To advise the Statistics Division that the draft revised recommendations reflect new developments in commercial practices, new data sources and data compilation arrangements, as well as recent and ongoing revisions in other areas of economic statistics, such as national accounts, classifications and industrial statistics

CompizConfig Settings Manager