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GOVERNMENT FINANCE STATISTICS

GOVERNMENT FINANCE STATISTICS. TRANSACTIONS IN NONFINANCIAL ASSETS. Part 2. This lecture presents the detailed categories of the GFS classification of nonfinancial assets. GOVERNMENT FINANCE STATISTICS. CLASSIFICATION OF TRANSACTIONS IN NONFINANCIAL ASSETS.

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GOVERNMENT FINANCE STATISTICS

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  1. GOVERNMENT FINANCE STATISTICS TRANSACTIONS IN NONFINANCIAL ASSETS Part 2 This lecture presents the detailed categories of the GFS classification of nonfinancial assets

  2. GOVERNMENT FINANCE STATISTICS CLASSIFICATION OF TRANSACTIONS IN NONFINANCIAL ASSETS • The classification of nonfinancial assets has four main categories of transactions: fixed assets, inventories, valuables, and nonproduced assets. • Fixed assets comprise long lived nonfinancial capital assets used in production. • Changes in inventoriesare holdings of goods to meet temporary fluctuations in production or sales. • Valuables are nonfinancial assets that are used as a store of value. • Nonproduced assets are naturally occurring assets or assets created by legal or administrative action.

  3. GOVERNMENT FINANCE STATISTICS GFS CLASSIFICATION OF TRANSACTIONS IN FIXED ASSETS 311 Fixed assets 3111 Buildings and structures 31111 Dwellings 31112 Nonresidential buildings 31113 Other structures 3112 Machinery and equipment 31121 Transport equipment 31122 Other machinery and equipment 3113 Other fixed assets 31131 Cultivated assets 31132 Intangible fixed assets

  4. GOVERNMENT FINANCE STATISTICS GFS CLASSIFICATION OF INVENTORIES • Changes in inventories • 31221 Materials and supplies • 31222 Work-in-progress inventories • 31223 Finished-goods inventories • 31224 Goods acquired for resale

  5. GOVERNMENT FINANCE STATISTICS INTERNAL TRANSACTIONS FOR INVENTORIES • Withdrawals for transfer to production. • Transfer when production is completed. • Sale or disposal of goods acquired for resale.

  6. GOVERNMENT FINANCE STATISTICS VALUATION OF INVENTORIES • All acquisitions and disposals of inventories should be valued at current market prices. • Withdrawals of work-in-progress inventories should be valued at their cost of production. • Goods for resale added to inventories are valued at their purchase prices.

  7. GOVERNMENT FINANCE STATISTICS GFS CLASSIFICATION OF VALUABLES 313 Valuables

  8. GOVERNMENT FINANCE STATISTICS GFS CLASSIFICATION OF NONPRODUCED ASSETS 314 Nonproduced assets 3141 Land 3142 Subsoil assets 3143 Other naturally occurring assets 3144 Intangible nonproduced assets

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