ECO 2147 Final: National Accounts - Income, Expenditure, Production Approach
13 Dec 2017
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Document Summary
The implementation of complete and consistent accounting techniques for measuring the economic activity of a nation. These include detailed underlying measures that rely on bookkeeping). 2 accounting entries are required to record each financial transaction. (measured over a period) and ensuring that the flows are reconciled with the stocks. One of the most basic and long-standing uses of national accounts is to quantify the rate of growth of an economy, i. e. , the growth of gdp. National accounts data are also used to determine a country"s financial contribution to international organisations, such as the united nations (un). Contributions to the un budget are based on gni. In europe, national accounts information is used to monitor the process of convergence across the european union (eu) Normalised system of national account (1952) oecd. These principles provide a comprehensive accounting framework within which economic data can be compiled and presented in a format that is designed for purposes of economic analysis, decision-taking and policy-making.
