Appendix A: The system of national accounts
The following table sets out the elements of the system of national accounts. These make up what would constitute a “complete” set of accounts. These accounts are what make up a complete system of accounts. In reality, not all of the accounts are available for New Zealand at this stage. The first three accounts are prepared in New Zealand and the income and outlay account is also prepared at an institutional level for the household and government sector.
Appendix Table A.1 - The system of national accounts
Production Account |
|
|---|---|
| Compensation of employees (wages and salaries) | Value added |
| Indirect taxes, net | |
| Depreciation | |
| Operating surplus | |
| Total inputs | Total outputs |
Income and Outlay Account |
|
| Final consumption expenditure | Operating surplus |
| Interest and other payments | Interest received and other income |
| Savings | |
| Total current expenditure | Total current income |
Capital Account |
|
| Gross capital formation | Savings |
| Purchases of assets | Depreciation |
| Net lending | Net capital transfers |
| Total capital expenditure | Total financing of capital expenditure |
Financial Account |
|
| Change in cash and deposits | Net lending |
| Change in investments | Change in loans/mortgages |
| Change in other financial assets | Change in other liabilities |
| Net acquisition of financial assets | Net incurrence of liabilities |
Reconciliation Account |
|
| Revaluations of financial assets | Revaluations of liabilities |
| Revaluations of fixed and other assets | Changes in net worth |
| Revaluations of assets | Revaluations of liabilities |
Balance Sheet |
|
| Financial assets | Liabilities |
| Fixed and other assets | Net worth |
| Total assets | Total liabilities |
Source: Savage (1999).
