The Time of Recording of Operations

Joaquim Miranda Sarmento
Additional contact information
Joaquim Miranda Sarmento: University of Lisbon

Chapter Chapter 10 in Public Finance and National Accounts in the European Context, 2018, pp 123-130 from Springer

Abstract: Abstract The recording of operations in the ESA 2010 is carried out using the “accrual” principle (when the expenditure is recorded, that is to say, when the economic value is created/transferred/extinguished, or when the obligation is assumed, changed, or cancelled), except for the case of taxes, where the “adjusted cash” principle is followed. The output is recorded when it is produced, rather than when it is paid for by a purchaser. The sale/purchase of an asset is recorded at the moment when its legal ownership is transferred, rather than at the moment of the respective payment. Interest is accounted for on an accrual basis, rather than when paid. Eurostat only considers as “extraordinary” those expenditures that result from non-controllable events, such as court decisions or natural disasters. The revenues and expenditures from non-repeatable events are considered as “one-off”; however, from a statistic/accounting point of view, these are considered for the calculation of the deficit in the National Accounts.

Date: 2018
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:fimchp:978-3-030-05174-7_10

Ordering information: This item can be ordered from
http://www.springer.com/9783030051747

DOI: 10.1007/978-3-030-05174-7_10

Access Statistics for this chapter

More chapters in Financial and Monetary Policy Studies from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().