Accounting aspects of measuring the economic activity of countries and regions with GDP

Wojciech Koziol and Oxana Cherkasova

International Journal of Trade and Global Markets, 2024, vol. 19, issue 3/4, 243-259

Abstract: The paper deals with the issue of measuring the economic activity of countries. The aim of the paper is to analyse the potential of accounting practice in improving the method of measuring GDP. Realising the objective of the paper, a proposal was formulated to reform the GDP measurement system in order to base it on data from the financial statements of every company and statistical reports of micro-enterprises that only conduct tax accounting. The suggested method of measuring GDP should be an income (cost) method due to its compatibility with the reporting data. The paper presents a postulate to popularise the labour productivity index integrated with GDP, which can provide reliable and fully comparable information on the condition of the economy, and at the same time allow to eliminate several important problems related to the measurement of GDP.

Keywords: GDP; gross domestic product; GDP measurement; accounting; labour productivity; income (cost) method. (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijtrgm:v:19:y:2024:i:3/4:p:243-259

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