Revenue Education Account, Primary Income Distribution Account...

Generation of income account

The income account reflects economic transactions related to the distribution of value added between the main participants in the production process.

In accordance with the principles of building SNA accounts, the initial element of the income generation account, reflected in its resource part, is the balancing item of the production account in the form of an indicator of added value, determined on a gross and net basis.

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In the use of resources section, this account contains indicators that are elements of added value: pay and net taxes on production and imports.

The balancing items of the income generation account are the indicators of profit and mixed incomes, defined on a gross and net basis as the difference between the corresponding indicators presented in the resource part and part of their use (Table 4.3).

Table 4.3

General scheme for building an income generation account

Using Resources

Resource generation

Remuneration of employees. Net taxes on production and imports

Gross value added. Net added value

Gross profit and (or) gross mixed income.

Net income and (or) net mixed income

Primary income distribution account

This account reflects the economic transactions associated with the distribution of income derived from productive activities and the use of property.

The resource basis of the account are the balancing items of the income generation account in the form of profit and mixed income indicators calculated on a gross and net basis.

As part of the formation of resources, the indicators in this account include wages for employees, taxes on production and subsidies, as well as income from property.

With regard to the use of account resources, indicators reflect the costs of institutional units in the reporting period for services related to the provision of non-produced and financial assets that are the property of other units at their disposal.

The balancing item of the account is the indicator of the balance of primary incomes or national income calculated on a gross and net basis (Table 4.4).

Table 4.4

General scheme for building a primary income distribution account

Using Resources

Resource generation

Income from property

Gross profit and (or) gross mixed income.

Net income and (or) net mixed income

The gross balance of primary incomes and (or) the gross national income. Net primary income balance and (or) net national income

Remuneration of employees. Taxes on production.

Subsidies.

Income from property

Secondary income distribution account

The account of the secondary income distribution reflects the economic operations associated with the receipt and transfer of current transfers.

The initial resource base of the account is the indicator of the balance of primary incomes.

In resource part and part of resource use contains similar indicators in the composition of the SNA to the elements of current transfers: current taxes on income, wealth, etc., social deductions, social benefits, other than social transfers in kind, as well as other current transfers.

The balancing item of the account is the disposable income indicator, which is determined on a gross and net basis and in terms of content is the total income that can be used for final consumption and accumulation without reducing the volume of assets or increasing the corresponding liabilities ( Table 4.5).

Table 4.5

General scheme for building a secondary revenue account

Using Resources

Resource generation

Current taxes on income, wealth, etc.

Social deductions.

Social benefits, except for social transfers in kind. Other current transfers

The gross balance of primary incomes and (or) the gross national income.

Net primary income balance and (or) net national income

Gross disposable income. Net disposable income

Current taxes on income, wealth, etc.

Social deductions.

Social benefits, other than social transfers in kind.

Other current transfers

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