9

Accrual basis of recording (^) In the accrual basis of recording, fl ows are recorded at the time economic value
is created, transformed, exchanged, transferred, or extinguished .................3.62
Actual employers’ social
contributions
Actual employers’ social contributions consist of actual contributions pay-
able to social security funds, employment-related pension funds, and other
employment-related social insurance schemes to obtain entitlement to social
benefi ts for their employees ................................................................................6.21
Actual premium (fee) Th e actual premium (fee) is the amount payable to the insurer (guarantor) to
secure insurance coverage for a specifi c event over a stated time period ..A4.74
Aggregates Aggregates are summations of individual entries and elements in a class of
fl ows or stock positions .................................................................................... 3.141
Allocated gold accounts Allocated gold accounts provide ownership of a specifi c piece of gold ..... 7.127
Amortized value of a loan Amortized value of a loan refl ects the gradual elimination of the liability by
regular payments over a specifi ed period of time ......................................... 3.115
Ancillary activity An ancillary activity is a supporting activity providing services within an enter-
prise in order to create the conditions within which the principal or secondary
activities can be carried out .................................................................................2.45
Arrears Arrears are defi ned as amounts that are both unpaid and past the due date for
payment ............................................................................................ 3.71, 7.247, 9.20
Asset An asset is a store of value representing a benefi t or series of benefi ts accru-
ing to the economic owner by holding or using the resource over a period of
time. ................................................................................................................ 3.42, 7.6
Asset-backed securities
and collateralized debt
obligations
Asset-backed securities and collateralized debt obligations are arrangements
under which payments of interest and principal are backed by payments on
specifi ed assets or income streams .................................................................. 7.151
Balance of payments (^) Th e balance of payments summarizes economic transactions between residents
and nonresidents during a specifi c time period ............................................A7.76
Balance sheet A balance sheet is a statement of the values of the stock positions of assets
owned and of the liabilities owed by an institutional unit or group of units,
drawn up in respect of a particular point in time ........................... 3.56, 4.39, 7.1
Balancing items Balancing items are economic constructs obtained by subtracting one aggre-
gate from a second aggregate ........................................................................... 3.142
Banker’s acceptance A banker’s acceptance is created when a fi nancial corporation endorses, in re-
turn for a fee, a draft or bill of exchange and the unconditional promise to pay
a specifi c amount at a specifi ed date ............................................................... 7.145

9. Glossary

APPENDIX