By Ronald Cooper, Profesor Harold C Edey, Visit Amazon's Harold C. Edey Page, search results, Learn about Author Central, Harold C. Edey, , Professor Sir Alan T Peacock, Alan T. Peacock
'A very worthy creation to the suggestions of social accounting' Bankers' Magazine.
'Remarkable feat of compression and expositionit would certainly stay for a very long time the easiest precis of macro-accounting recommendations' Accounting examine.
This quantity covers advancements either within the scope and content material of legit monetary facts of nationwide source of revenue and expenditure and of their use for temporary and long term financial making plans.
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Extra resources for National Income and Social Accounting
Such payments as interest on government debt paid abroad may be, as in the United Kingdom National income accounts : government activity 57 accounts, treated in a way similar to government purchases of imports: as government payments to firms accompanied by firms' payments to non-residents. This almost completes our schematic treatment of national income accounting. There remains for preliminary discussion in the following chapter an important analytical point: the division of the firms account into a production and an appropriation account.
Firms' saving 24 14 4 6 24 = firms' saving (section 3 of Chapter 3) which equals 100. e. 21 + 79, which provides another way of calculating gross national product at factor cost from the income side. This latter approach is the one followed in the United Kingdom statistics. A complete sub-division of the firms account in terms of types of business organisation would imply a separate production account and a separate appropriation account for each subdivision. In fact, the United Kingdom statisticians limit themselves to (a) a single production account, covering all types of organisation, and (b) a separate appropriation account for all corporate business, which is then subdivided again into accounts for privately-owned corporations (distinguishing financial companies) and for publicly-owned corporations.
The resources originally put into them might equally well have been put into home investment from which in due course production would have been derived. Gifts from overseas residents, and grant aid to overseas governments, on the other hand, it is argued, should not be regarded as part of the national product or income. We shall not discuss this point further beyond pointing out that it is entirely a matter of choice and definition what receipts and payments should be included in the computation of national income.