Gross profit and gross mixed income goskomstat. Lectures - Statistics - File Topic4.doc
Topic 12. Statistics of macroeconomic calculations. system of national accounts
The concept and structure of the system of national accounts (SNA)
System of National Accounts can be defined as a system of calculations of macroeconomic indicators, presented in the form of a certain set of interrelated accounts, classifications and balance sheets.
The SNA was created more than 50 years ago in the countries with the most developed market economies to analyze its structure, institutions and mechanisms of functioning at the macroeconomic level. The very term "national accounting" was proposed by the Dutch economist W. Cliff.
IN former USSR to describe and analyze macroeconomics, another system of indicators was used - balance of the national economy (BNH), designed primarily to analyze the model of the economy based on public ownership and central planning. Transition to market economy called for the transition from the BNKh to the system of national accounts throughout the former USSR (in the Russian Federation, the transition to the SNA was carried out in 1993).
SNS is a modern Information system, which provides the receipt of interrelated information on macroeconomic indicators by the authorities government controlled for the formation of socio-economic policy and regulation of the economy as a whole. In order for the SNA to be effective and contribute to the identification of macroeconomic patterns and relationships, a number of important provisions are observed in world practice.
First, the SNA uses a broader interpretation of economic production (in the BNC, only material production was included in the sphere of economic production).
According to the SNA methodology, economic production includes all activities for the production of goods and services:
production of goods, including goods for own consumption, except for services provided by housewives for cooking, cleaning, raising children;
production of market services for sale;
activity financial intermediaries(banks, investment funds, insurance companies);
production of non-market services by public administration institutions (legislative and executive structures, defense, health care, education, etc.);
provision of non-market services by non-profit organizations serving households;
the provision of services by hired servants (cooks, drivers, gardeners);
provision of services by homeowners for their own consumption;
activities aimed at protecting the environment.
The second important provision of the SNA methodology concerns the content of such a category as income (the concept was developed by the English economist J. Hicks), according to which income is maximum amount money, spending which on consumer goods and services you do not reduce your accumulated wealth, do not accept any financial obligations, i.e. don't get poorer.
The third provision concerns the reduction of many economic entities to five relatively homogeneous groups, for which a standard set of accounts is provided, in which economic transactions are recorded related to the formation, production, distribution, redistribution of income, accumulation and saving, the acquisition of financial assets and the assumption of financial liabilities.
Since 1993, the following five sectors have been considered such sectors, each of which can include economic entities in accordance with their function in the economic process:
non-financial corporations and quasi-corporations(function of production of goods and not financial services);
financial corporations and quasi-corporations(function of accumulation of free financial resources and providing them on certain conditions to investors);
public administration(function of redistribution of national income and wealth, provision of free services);
households(the function of acquiring goods and services in the market, providing labor force);
non-profit organizations, serving households(public, political, religious organizations whose function is to provide free services to members of these organizations).
In addition to analyzing the information contained in sectoral accounts, an analysis of the relationship between them in the economic process is carried out. Finally, important accounts (the production account and the generation of income account) are compiled in the SNA and for individual sectors of the economy (industry, Agriculture, construction, etc.).
Thus, on the basis of sectoral accounts, accounts for sectors of the economy are compiled macroeconomic calculations.
The purpose of macroeconomic calculations within the framework of the SNA is a description of generalizing indicators of the main economic flows for a certain period, the formation and interconnection of which are the essence of the structure of the SNA.
Under economic flows refers to the creation, transformation, exchange, transfer of value. Economic flows can lead to changes in the volume, composition, value of assets and liabilities of the so-called institutional units, which are understood as legal or individuals, organizations and institutions that have the ability and the right to carry out operations in the process of production, distribution, redistribution and use of income, a set of accounts or the ability to compile them.
Economic flows by mutual agreement in the SNA system are called economic transactions. Economic transactions are carried out with compensation in the form of oncoming flows(in exchange for the provided goods, services, labor or assets, compensation is provided again in the form of goods, services, etc.). If economic transactions are carried out without compensation (payment of pensions, scholarships, humanitarian aid, etc.), then such economic transactions are called transfers.
The structure of the SNA is based on accounts and balance sheets.
The account reflects transactions, assets or liabilities of economic units, is a two-sided table, where equality between the amounts is achieved using balancing article, which is a macroeconomic indicator. Balancing items make it possible to move from one account to another and link accounts in single system. In the structures of the SNA, the following groups of accounts are distinguished, which are developed at current prices.
Group of accounts of the domestic economy generally:
account of production of goods and services;
income generation account;
income distribution account:
a) primary income distribution account;
b) secondary distribution of income account;
account for the use of national disposable income;
accumulation account (capital account).
Group of accounts of sectors of the economy:
production account by industry;
income generation account by industry.
Group of accounts of foreign economic relations("the rest of the world"):
current account;
capital cost account;
financial account.
Based on an interconnected system of indicators, combined into accounts and compiled in a certain sequence, it is possible to obtain an interconnected complex quantitative characteristic economic processes in general, i.e. get the so-called consolidated accounts.
Scorecard and general principles construction of the SNA
The system is a set of indicators that are interconnected, complement each other and are calculated on the basis of uniform methodological principles. Such a system of indicators are the most important macroeconomic indicators (aggregates) used in the SNA:
When compiling national accounts, it is necessary to adhere to generally accepted principles, among which the following can be distinguished.
(principle accounting) - each transaction in the SNA is recorded twice: in the "Use" section of the previous account and in the "Resources" section of the subsequent account. Additional control is provided by the fact that each item of one or another account has a corresponding item in another account, which contributes to linking the accounts.
Corresponding to the sequence of the reproduction cycle (production, formation of income, distribution of income, use of income).
balance principle(registration of all economic flows in the form of balance sheets).
Where we are talking that balancing items are primarily calculation categories, designed not only to ensure a balance between the volume of resources and their use, but also to characterize the results of one or another economic process, which allows us to consider them the most important macroeconomic indicators.
"T": All accounts consist of two sections (columns), the right one includes "Resources" and the left one - "Usage".
For the SNA, it is very important that each account has its own balancing item, which is presented in Table 1 for clarity. 12.1.
Table 12.1
Table of accounts and balancing items
current account | |
Production account | Gross domestic product (GDP)(for the national economy) and gross value added (GVA)(for sectors of the national economy) |
Income generation account | Gross Profit (GRP) And gross mixed income(for the national economy and for sectors of the national economy) |
Gross national income (GNI)(for national economy) and balance of primary income (SPI)(for sect. national economy) | |
Secondary distribution of income account | (for the national economy) and gross disposable income (GDI)(for sectors of the national economy) |
Income use account | Gross Saving (GNS)(for the national economy and for sectors of the national economy) |
Table 12.2
Main Consolidated Accounts
Consolidated account | Usage | Resources |
Production account | 3. Intermediate consumption 5. GDP (gross domestic product at market prices) (5 = 1 + 2 – 3 – 4) |
1. Release of goods and services 2. Net taxes on products 4. Subsidies |
Income generation account | 2. Remuneration of employees 3. Taxes on production and imports including: product taxes other taxes on production 5. Gross profit and gross mixed income (5 = 1 – 2 – 3 + 4) |
1. GDP at market prices 4. Subsidies for production and imports |
Primary income distribution account | 5. Property income transferred to the "rest of the world" 6. Gross national income (GNI) (balance of primary income) (6 = 1 + 2 + 3 + 4 – 5) |
1. Gross profit and gross mixed income 2. Remuneration of employees 3. Net taxes on production and imports 4. Property income received from the "rest of the world" |
Secondary distribution of income account | 3. Current transfers to the "rest of the world" 4. Gross national disposable income (GNDI) (4 = 1 + 2 – 3) |
1. Gross national income (GNI) 2. Current transfers received from the “rest of the world” |
Gross national disposable income account | 2. Final consumption expenditure including: households public institutions non-profit organizations serving households 3. Gross National Saving (GNS) (3 = 1 – 2) |
1. Gross national disposable income (GNDI) |
From Table. 12.2 shows that the national accounts are indeed built:
1) in a certain sequence of the reproduction cycle;
2) have the shape of "T";
3) each item of one or another account has a corresponding item in another account;
4) the principle of double entry is observed;
5) in general, the SNA is considered as a balance method;
6) there is a quantitative relationship between the most important indicators.
Methods for calculating GDP and ND indicators
Gross domestic product and gross national income are the most important indicators macroeconomic statistics, since it is these indicators that reflect the final results economic activity across the country as a whole and play big role in the system of national accounts.
Gross domestic product (GDP) is the central indicator of the SNA, an indicator of the production domestic product produced by residents of the country for a certain period of time. It is calculated at end-use market prices, i.e. at the prices paid by the buyer, including taxes on products and all trade and transport margins. GDP is used to characterize the level economic development, pace economic growth etc.
The indicator of the level of GDP per capita is used to compare the levels of well-being of countries, to establish the size of the country's contributions to the budgets international organizations, to address issues of providing various types of assistance to countries.
A summary indicator of income at the macro level is gross national income (GNI), which is the sum of primary incomes received by residents of a given country for a certain period as a result of their participation in the creation of GDP. Quantitatively, GNI differs from GDP in the balance of primary income received from abroad or transferred abroad.
There are three main methods of statistical estimation of GDP and NI: production, distribution and end-use method, i.e. GDP can be considered at the stage of production, at the stage of income generation and at the stage of use of income.
production method
GDP at the stage of production characterizes the measurement of the value created in the production process for a certain period of time by the residents of a given country. This method of calculating GDP is based on the following indicators: output of goods and services (B); intermediate consumption (IC) and gross value added (GVA).
Output (B) is the value of all goods and services produced in the current period, which is accepted in the SNA to be calculated at basic prices. The cost of manufactured goods includes the value of goods and services used in the production process. If it is necessary to obtain the newly created value in the production process in the current period, intermediate consumption (IP) is subtracted from the output of goods and services.
Under intermediate consumption is understood as the value of goods and services that are completely consumed or transformed in a given period in the process of production of other goods and services. Intermediate consumption includes material inputs (raw materials, materials, fuel, energy, material services, Construction Materials, buying food, etc.), payment for non-material services (payment for research and design work, financial services, personnel training costs, payment legal services, audit, advertising expenses, rent payments etc.), travel expenses, other items of intermediate consumption.
Intermediate consumption does not include the consumption of fixed capital, as well as expenditure not directly related to the production of goods and services. PP is estimated at the time of receipt of the relevant goods and services into production at market prices.
The difference between the output of goods and services (B) and intermediate consumption (IP) is called gross value added (GVA):
(12.1)
To calculate GDP at market prices, gross value added is increased by taxes on products and imports and reduced by subsidies on products and imports:
GDP = GVA + Taxes on products and imports - Subsidies on products and imports. (12.2)
For determining national income(ND) GDP should be reduced by the consumption of fixed assets (depreciation) and increased by the balance of primary income from abroad:
NI = GDP - Consumption of fixed assets (depreciation) + Balance of primary income receipts from abroad (12.3)
distribution method
This method of calculating GDP is considered in the process of generating income (by source of income). At the stage of income generation, GDP is calculated as the sum of primary income, which is subject to distribution among the direct participants in the production process. These incomes are included in the value added of the current period, created in the production process.
TO primary income include the following:
wages of employees (wages + employers' contributions for social needs);
taxes on production and imports (mandatory non-refundable non-refundable payments);
subsidies for production and imports (current gratuitous non-refundable payments provided by the state);
gross profit and gross mixed income (the part of the gross value added that remains with producers after subtracting the costs associated with paying employees and paying taxes on production and imports).
The distributive method of calculating GDP is used primarily to analyze its cost structure. If we add to GDP the primary income received from the rest of the world and subtract the primary income transferred to the rest of the world, the result is the country's gross national income (GNI) at market prices.
End use method
At the income use stage, GDP is calculated using the end use method, where it is the sum of residents' expenditures on final consumption of goods and services, gross capital formation and the balance of exports, imports and services. actual final consumption refers to the cost of actually consumed goods and services, regardless of any sources of financing. It includes:
actual household final consumption;
actual final consumption of public institutions.
In addition to final consumption expenditure, the most important component of the final use of GDP is gross capital formation.
Gross capital formation includes:
gross fixed capital formation (investment of funds by units - residents - in objects of fixed capital in order to obtain benefits, which is expressed in an increase in the value of fixed capital);
increase in inventories of circulating assets (increase in stocks of raw materials and materials, finished products, work in progress, goods for resale, state material reserves).
Balance of export-import and services covers the export-import transactions of a given country with all other countries and is the difference between exports and imports of goods and services at domestic prices.
So, GDP when calculated by the end use method is equal to
GDP = Final consumption + Gross capital formation + Balance of export-import and services. (12.4)
When calculating the national income (NI) using the final use method, the consumption of fixed assets is subtracted from GDP and the balance of primary income receipts from abroad is added:
deflation method, which is based on the use of price indices (the Laspeyres formula is most often used, where data from the base period are used as weights).Double deflation method(the method of sequential deflation first of output, then of intermediate consumption, while the value added at constant prices is estimated as the difference between output and intermediate consumption determined at constant prices).
The essence of the deflation method is that when calculating the volume of output of the current period at constant prices, the GDP deflator index is used, which is calculated by correlating the volumes of GDP given period respectively in current and constant prices:
(12.6)
where - the volume of GDP of the current period in actual prices.
Then, to calculate the volume of output of the current period in constant prices, the volume of produced or consumed products of the current period in actual prices is divided by the corresponding price deflator index.
extrapolation method, based on the use of volume indices, is used when there is no information on prices, but there is data on changes in the volumes of output or services provided.
Gross profit by sectors of the economy and industry is determined by the balance method:
Gross value added - Compensation of employees
workers - Other taxes on production + Other subsidies
for production - Gross mixed income.
Gross mixed income is the income of unincorporated enterprises owned by households (personal subsidiary farm, handicraft occupations of the population, etc.). It is determined by the balance method, i.e. other taxes on production are deducted from the value added by households in the respective industries. Data on mixed income by sector of the economy are determined on the basis of the production account (sector "Households").
Consumption of fixed capital shown in the MOB in the amount of annual depreciation of fixed assets, calculated from their average annual cost.
In order for the methodology for calculating value added to be in line with CHC requirements, the summation of cost elements needs to be adjusted for the imputed cost of financial intermediation services (subtracted).
Currently, most of the interest is interest on deposits and loans received and paid by financial intermediaries, mainly banks. The interest rates of various banks are usually financed in relation to the base rate, for example, the rate Central Bank. Interest rates on loans are usually set above the base rate, and interest rates on deposits - below the base rate.
In accordance with CHC rules, the actual interest received or paid by financial intermediaries must be adjusted to exclude that part of it that represents contingent fees for financial intermediaries. Thus, the amount of interest received by financial intermediaries should be reduced to the amount that they would have received if the base rate of interest had been applied; accordingly, the amount of interest paid by financial intermediaries should be increased to the amount that would have been paid if the base rate of interest had been applied. The difference between actual payments and payments calculated based on the reference interest rate represents imputed fees for financial intermediaries.
In the IRB, due to the impossibility of distributing imputed fees for services of financial intermediaries between sectors of the economy, this value is shown in intermediate consumption at the intersection of the column "Imputed fees for services of financial intermediaries" and the line "Finance, credit, insurance ...". When determining the value added, this amount is given with a minus sign at the intersection of the column and the line “Imputed fees for financial intermediaries”.
To move from total value added (the sum of gross value added across all sectors of the economy) to GDP, additional net taxes on products (taxes on products minus subsidies on products) must be taken into account.
Product taxes are taxes usually levied on a unit of a good or service, i.e. in proportion to the quantity or value of goods and services produced, sold or imported by residents. Taxes on products include:
§ value added tax (VAT);
§ excise taxes on certain groups and types of goods, including excise taxes on the sale of cars;
§ taxes on the sale of fuels and lubricants;
§ tax on the resale of cars, computers and personal computers;
§ collection from transactions made on commodity exchanges;
§ import taxes;
§ export taxes.
The total amount of the listed types of taxes on products for the economy as a whole is taken from the calculations of the primary distribution of income account. Value added tax by industry is distributed according to the structure of the final use of industrial products (excluding exports).
Excises are distributed by industry according to the data of the Ministry of Finance.
Taxes on the sale of fuels and lubricants are related to the branch of the MOB "Products of oil refining", on the resale of cars, computers and personal computers - to the branch "Trade". Fees from transactions made on commodity exchanges are conditionally related to the branches of the MOB “Trade”, “Materials and technical supply and sales”, “Procurement”.
Export taxes are export duties. Import taxes include import duties and fees the state budget net income of state foreign trade organizations, formed as a result of differences between foreign trade organizations (recalculated in national currency) and domestic prices for certain types of goods.
Taxes on import and export by sectors of the economy and industry are calculated on the basis of the form f. No. 10-f "Report on the main indicators of the financial activity of the enterprise" for gr. 4, p. 169 "Export customs duties" and p. 170 "Import customs duties".
Gross profit and mixed income
Gross margins and gross mixed incomes are the portion of gross value added remaining with producers after deducting all expenditures on wage labor, production taxes, and import taxes.
This income component reflects the profit that is earned in the production process before property income is deducted. In the system of national accounts, property income is considered income that arises in the process of granting loans or leasing financial and material non-productive assets (this includes land) to other enterprises for the purpose of using them in the production process.
Property income also includes:
- interest payments,
- dividends and other income of owners of financial assets,
- rent received by owners of land and subsoil,
- reinvested income received from foreign direct investment.
Payments such as rent, interest, and other property income are paid in the process of further distribution of primary income.
mixed income
Definition 1
Mixed income - income of unincorporated organizations that are owned by households (on an individual basis or jointly with other persons).
These can be small shops, farms, partnerships, etc. These enterprises often use the labor of the owners themselves, as well as members household, and the income received in the course of the activities of these enterprises contains elements of remuneration that cannot be separated from the income of the owner or entrepreneur.
Import and production taxes are indirect taxes, they are usually considered as the primary income that governments receive. Tax on income and property are not primary income, they are treated as redistributive payments.
According to another interpretation of the gross domestic product, which is calculated by income, the following types of primary income are added:
- salary,
- corporate profits that remain after payments to employees and counterparties (dividends, retained earnings, income tax are allocated in it),
- rent,
- interest, excluding interest on government debt,
- income of unincorporated enterprises, or income of owners,
To these incomes are also added two items that are not considered income - indirect tax and consumption of fixed capital.
Remark 1
Most countries of the European Union most often use the production method of calculating GDP and the final use method, the choice of which is determined mainly by the availability of a reliable information base.
In addition to GDP, there are other indicators that reflect income and product. Gross domestic product is the result of the production activities of companies that are residents of a given state, but not all employees of these enterprises are residents of the country. For this reason, part of the value that is created in this state is paid to non-residents for their participation in the production of the GDP of this state.
And vice versa, a resident of this state can receive some part of income from abroad (from the added value that is created in other states) for his participation in the production process of the GDP of another state (for example, in the form of wages). Similar processes can occur in the process of distribution of income received from property (interest, dividends, etc.). A resident can partially receive these incomes from the added value that was produced abroad, and part of the value that was produced in this state is used to pay income from property to non-residents.
Subject4.doc
Indicators of education and income distributionThe SNA examines income at the stage of their generation, distribution and final use. At the stage of income generation, primary incomes are formed, which are received by institutional units in connection with their participation in production or as a result of asset ownership. Income associated with participation in value added production is called factor income. Factor incomes act in the form of remuneration of employees and net profit in incomes equivalent to it. Property income is generated from the lending or leasing of financial, tangible and intangible non-reproducible assets, including land, to other institutional units for use in production. The composition of primary income also includes taxes on production and imports received by the state budget. They are the primary revenue of the state.
The analysis of distributional processes begins with the compilation of an income generation account for industries, sectors and the economy as a whole. Its purpose is to show what components it consists of. GVA And GDP which costs directly related to the production process should be reimbursed. For this, an income generation account is compiled. It is compiled for both the economy as a whole and for the industry (sector). The “Resources” column of this account contains the GVA, which is transferred from the “Usages” section of the “Production” account. The uses of this account show the costs of producers. But these amounts represent not only the costs of producers, but also the income of the respective institutional units. Gross profit for the economy as a whole can be determined by summing the gross profit by sectors (industries) of the economy.
^
Income generation account
Compensation of employees is a remuneration, in cash or in kind, that must be paid by an employer to an employee in exchange for work performed during an accounting period. It consists of two main components:
gross wages;
social security contributions for employees.
Salary in cash includes:
the amount of remuneration accrued to employees at piece rates, tariff rates; official salaries;
incentive payments (bonuses, bonuses for seniority);
compensation payments related to the mode of work and working conditions (payments for overtime work, night hours);
payment for unworked time in accordance with the law (payment for annual and additional holidays);
wages of workers during their training with a break from production in the system of advanced training and training.
^ Included in wages not included:
intermediate consumption expenses incurred in the interests of production (travel allowances, the cost of issued overalls, etc.);
payments to workers that are not remuneration for work (temporary disability benefits, for children, pensions, etc.);
the cost of housing transferred to the ownership of employees and the cost of repaying loans issued to employees to improve housing conditions.
Actual deductions for social insurance consist of contributions made to government and non-state funds social insurance in accordance with the programs social security and social insurance of the population. These payments are the main source of funds for the payment of social benefits under certain conditions, reducing the welfare of the worker.
Imputed Social Security Contributions - these are social benefits paid directly by entrepreneurs to their employees, former employees, their dependents at their own expense..
They include:
severance pay;
payments for the period of employment to dismissed employees in the event of reorganization, liquidation of the enterprise or reduction;
additional payments to employees in case of temporary disability;
disability benefits due to work injury.
Other taxes on production consist of all taxes, except taxes on products, that are levied on enterprises as a result of their participation in the production process. They do not directly depend on the volume and profitability of production. These include taxes on wages and labor force, periodic taxes on land, buildings and structures, licenses to conduct economic and professional activities, to conduct transactions with financial and tangible assets, etc.
Subsidies transfers that are reverse taxes. They are intended to stimulate the state of production, the prices of which are below market prices, to compensate for losses to trading organizations involved in the sale of these products.
Subsidies are divided into:
food subsidies;
other subsidies.
^ Gross profit (gross mixed income) - part GVA, which remains with producers after subtracting the costs associated with paying employees and paying taxes.
This item measures the profit (or loss) earned from production before property income is taken into account. The concept of "mixed income" is used in relation to the household sector and includes the combined income from the labor of independent owners and from capital. It is almost impossible to separate these types of household income, so they are shown together for this production account:
VPE \u003d GVA - OT - H + C
^
Net income of the economy
is a measure of macroeconomic profit in the SNA. It is calculated by subtracting from the gross income of the fixed capital consumption economy ( QAP):
NPE \u003d WPE - POK
There is no element of net profit in the “Education of income” account for the sectors “Government institutions”, “Non-profit organizations”, since these sectors create non-market products, which are estimated by the sum of current costs, including QAP.
When determining the gross domestic product by the distribution method, it includes the following types of primary income paid by resident production units:
wages of employees;
net taxes on production and imports (taxes on production and imports minus subsidies on production and imports);
gross profit of the economy and gross mixed income:
CHNP– net taxes on production and imports;
^ DNP- other taxes on production.
For statistical analysis, it is necessary to determine the structure GDP and identify patterns in its change.
Analysis of facts affecting growth certain types primary income, spend using the index method. In this case, indexes can be used:
average wage;
average gross wage;
wage level.
An analysis of the change in the amount of wages can also be carried out using the following index model:
.
Index models work similarly for CHNP And VPE:
, .
The income received from the ownership of assets is called property income. They are formed at the stage of primary distribution. Together with income from production, income from property is recorded in the primary income distribution account. In it, institutional units - residents or sectors act as recipients of primary income, and not producers who create primary income. Unlike the generation of income account, the distribution of income account can only be maintained for institutional units and sectors.
^
Primary income distribution account
The right side of this account shows resources that can be divided into two groups:
primary income received by resident units involved in the production of products and services;
property income.
^ Compensation for resident employees non-resident institutional units is the wages and social security contributions of citizens of the republic employed in foreign embassies and consulates, artists going on tour abroad, etc.
Property income is received by the owners of financial and tangible non-producible assets. Owners of financial assets receive income in the form of interest, dividends, reinvested earnings from direct foreign investment; owners of tangible non-productive assets - in the form of rent.
Rent represents a payment to owners of non-reproducible tangible assets (land and subsoil) for allowing another institutional unit to operate these assets.
Interest- Income earned by owners valuable papers(except for shares), contributions (deposits) and persons who have provided loans and funds for use.
Dividends- income from property, which is received by the owners of shares.
Reinvested proceeds from foreign direct investment are characterized by the amount of retained income of enterprises with foreign direct investment, which may include branches of foreign enterprises, as well as enterprises that have at least one foreign investor owning a capital share sufficient to influence its management. Reinvested earnings can take the form of interest, dividends, withdrawals from the income of quasi-corporations.
The sum of factor income and the balance of property income forms the value of the balance of primary income. The composition of primary income varies by sector. Primary income of non-financial enterprises and financial institutions are formed from profit and income equivalent to it and the balance of income from property; general government sectors from net taxes on production and imports and from the balance of property income; household sector - from the wages of employees, the balance of income from property and profits and equivalent income from housing services; sectors of non-profit organizations serving households - from the balance of primary income.
The primary income balance is the balancing item in the primary income distribution account, which is obtained by summing up all the primary income of institutional units or sectors less the amount of primary income paid to other institutional units or sectors.
Based on the distribution of primary income account, one can obtain indicators of net and gross national income. ^ Gross National Income ( GNI) is equal to the sum gross balance of primary income of all sectors of the economy. GNI is identical to the gross national product, however GNI is a measure of income, and GNP- product characteristics. The gross national product is obtained by summing GVA all institutional units and adding to the resulting value the amount of taxes not included in the cost of output.
^
net national income
equals GNI minus the consumption of fixed assets:
NNI \u003d GNI - POK
At the second stage of income distribution, income is redistributed mainly through current transfers. These processes are carried out by means of the secondary distribution of income account, in which there is a transition from the balance of primary income of an institutional unit or sector to disposable income.
^
Secondary distribution of income account
The resource side of this account takes into account the balance of primary income and current transfers. Current transfers show current income taxes, social insurance contributions, social benefits and other current transfers. The expenditure side shows the use of current transfers and disposable income. The right side of the account records current transfers received by institutional units or sectors, while the left side records transfers to be transferred to other institutional units or sectors. Transfers given and received may not match in size.
Current taxes and taxes on material values consist of income taxes households, corporate profits and wealth taxes. For the household, financial, non-financial and non-profit sectors, they are shown under uses, and for the government sector under resources.
Social security contributions can be actual or imputed. They are produced by employers, self-employed workers or unemployed persons. On this account, they are accounted for as resources for government bodies and insurance corporations. For the household sector, they are shown on the uses side of the account. Social benefits can take the form of social assistance benefits ( health care, drugs). This type of current transfer is recorded in the secondary distribution of income account as resources for the household sector, and for all other sectors of the economy in the “uses” section.
The group of other current transfers recorded in this account consists of insurance premiums and insurance claims (other than insurance premiums and insurance claims related to life insurance), current transfers between government bodies different levels of government, between different households ( Money transfers and gifts in kind), between the central government and the governments of other states.
The balancing item of this account is disposable income, is determined by summing the balance of primary income and the balance of all current transfers. The balance of current transfers is defined as the difference between received and transferred current transfers in the sector. Distinguish between gross and net disposable income. The difference between them is determined by the amount of consumption of fixed capital. To obtain the value of national disposable income, it is necessary to add the balance of current transfers between institutional units to the disposable income in the economy.
^
Income redistribution account in kind
The distribution of income is completed in the account for the redistribution of income in kind. It shows the transformation of the disposable income of the government, nonprofit household and household sectors into the adjusted disposable income of these sectors.
Redistributive processes involve government agencies and non-profit organizations transferring in-kind social transfers to households. These include social benefits in kind and transfers of non-market goods and services for personal use. Social transfers in kind include non-tradable products of governments and non-profit organizations that were provided to households for free or at negligible prices, as well as goods and services purchased from producers and provided to households for free or at negligible prices. That is, this account reflects the intersectoral redistribution of disposable income, as a result of which the amount of disposable income in the household account increases, and in the account of the sectors of government institutions and non-profit organizations decreases. In the economy as a whole, disposable income should be the same as adjusted disposable income.
Ed. A.V. Sidorovich
Section II. MACROECONOMICS
Chapter 21 Price indices
Gross profit and gross mixed income
Gross margins and gross mixed incomes represent the portion of gross value added that remains with producers after deducting the costs of paying employees and paying taxes on production and imports. This component of income shows the income received from production, before the deduction of property income (In the SNA, property income is income arising from the lending or leasing of financial and material non-produced assets, including land, to other economic units for use in production. This includes: interest, dividends and similar types of income for owners of financial assets; rent received by owners of land or its subsoil leased to other units; reinvested earnings from foreign direct investment). Rent, interest and other property incomes are paid in the course of further distribution of primary incomes.
Mixed income refers to the income of unincorporated enterprises owned by households (individually or jointly with other persons) - small shops, farms, partnerships, etc. In such enterprises, the labor of the owners themselves or members of their households is used, and the income of these enterprises contains an element of wages , which cannot be separated from the income of the owner or entrepreneur.
Taxes on production and imports ( indirect taxes) in new version The SNA is treated as the primary income of the government. (Note that taxes on income and property are not considered as primary income, but are treated as redistributive payments).
Another interpretation of GDP calculated by income, based on American calculation practice this indicator and preserved in many textbooks on economic theory, assumed the summation of the following types of primary income: wages, corporate profits remaining after payments to employees and creditors (dividends, retained earnings and income taxes were allocated in it), rents, interest (except for interest on public debt), income of unincorporated enterprises (they called property income or property income). To these incomes were added two items that were not considered income - indirect taxes and consumption of fixed capital.
Of the above methods for calculating GDP, the production method and the end use method are most often used (they are used by most EU countries). The choice is determined by the presence of a reliable information base.
In addition to GDP, there are other indicators of income and product. GDP is the result of the production activities of enterprises, organizations that are residents of a given country. However, not all employees of these institutions are residents. Therefore, part of the value created in a given country is paid to non-residents for their participation in the production of the country's GDP. Conversely, residents of a given country can receive part of their income from abroad (from value added created in other countries) for their participation in the production of GDP in other countries, for example, in the form of wages. Similar processes occur with the distribution of income from property (interest, dividends, etc.). Residents receive part of this income from the value added produced abroad, while part of the value produced in the country is used to pay property income to non-residents.