1. Updating the 1993 SNA Anne Harrison Editor of the update Anne.harrison@oecd.org

2. Overview only Full documentation on UN web site http://unstats.un.org/unsd/nationalaccount/ snarev1.asp

3. Recommendations Topic-specific expert groups 44 issues AEG has had four meetings Full list of provisional recommendations

4. And.. Clarifications Consistency issues

5. Pensions Funded pension schemes Show liabilities of schemes (not just assets) Contributions of employer and employee represent pension entitlement earned in a year For defined benefit schemes, property income represents increase in past pension entitlement during the year

6. Problem area Unfunded schemes of government Difficulty of separating from social security May go with supplementary table to permit some latitude in application of recommendations

7. Non-financial assets R&D – Frascati data to be treated as fixed capital Capital services Contracts, leases and licences Intangible assets – capture of ”excess profits” from imperfect market brought about by restrictions

8. Financial services FISIM – withdraw option not to allocate Use a reference rate Allow service on lending of own funds including money lenders Buy/sell margins on dealing in securities and equities

9. Insurance Use expected claims not actual and smooth premium supplements also Have a link to monetary and financial statistics

10. Government New chapter on government and public sectors Delineation of units under control of govt Greater precision on ”economically significant prices” Guarantees PPP

11. Rest of the world Goods for processing – goods enter and then leave country without changing ownership Change to follow strictly change of ownership principle ie no imports and exports recorded for original value, difference is shown as processing fee Apply to inter-establishment deliveries only

12. Merchanting Goods bought and then sold without physically entering the country Show as negative exports and then positive exports (at a higher value) Parallel with domestic wholesale and retail May have inventories held in ROW

13. Units Units with no physcial presence or employees Government SPVs Holding companies

14. Developing country concerns Globalisation Informal economy Migrant workers and international remittances NPIs and their role in international relief efforts Debt concessionality and restructuring

15. 1993 SNA Rev1 Will I recognise the book?

16. Part 1 Introduction and overview Part 2 Accounting conventions 1Introduction 2Overview 3 Flows, stocks and accounting rules 4Institutional units and sectors 5Establishments and industries

17. Part 3 The sequence of accounts 6The production account 7The distribution of primary income account 8The secondary distribution of income account 9The use of income account

18. Part 3 cont 10The capital account 11The financial account 12Other changes in assets accounts 13The balance sheet

19. Part 4: Integration and elaboration of the accounts 14Typical summary presentations 15Supply and use tables and input-output 16Prices and volumes measures 17The role of capital services in the accounts 18Cross-cutting and other special issues

20. Part 5: Interpretation of the accounts and extensions 19Measuring corporate activity 20The government and public sectors 21Non-profit institutions in the System 22Households 23The informal sector 24The rest of the world account (external transactions account)

21. Part 5 cont 25The link to financial and monetary statistics 26Population and labour inputs 27Satellite accounts and other extensions of the System Annex 1: Classifications Annex2: Accounts

22. Electronic annexes Multiple exchange rates PPPs Changes since 1993 ?Input-output