Introduction 7
positions in a manner that permits the calculation of
aggregates and balancing items as summary measures
of the activities of the general government and public
sectors.
1.42 Chapters 5 through 10 describe the classifi -
cations of transactions, other economic fl ows, and
stock positions of assets and liabilities. Chapter 5 is
devoted to revenue transactions, which increase net
worth. Chapter 6 is devoted to expense transactions,
which decrease net worth. Chapter 7 describes the
balance sheet and the classifi cation of stock positions
of assets and liabilities. Chapter 8 provides a classi-
fi cation of transactions in nonfi nancial assets, while
Chapter 9 provides a classifi cation of transactions in
fi nancial assets and liabilities. Chapter 10 covers other
economic fl ows.
1.43 An annex to Chapter 4 describes the use of
GFS to build well-defi ned indicators for fi scal analy-
sis, while an annex to Chapter 6 describes the Classifi -
cation of the Functions of Government (COFOG).
1.44 Th is Manual includes nine appendixes. Ap-
pendix 1 lists the methodological changes from the
GFSM 2001 to this Manual, and the diff erences of the
GFSM 2014 framework from the GFSM 1986. Appen-
dix 2 describes the various organizational structures
used to provide social protection and the associated sta-
tistics compiled for the general government and public
sectors. Appendix 3 provides guidance on selected pub-
lic sector debt issues. Appendix 4 covers a description
of cross-cutting issues such as the recording of leases,
licenses, permits and other contracts, public-private
partnerships, and insurance and standardized guaran-
tee schemes. Appendix 5 elaborates on the implications
of regional arrangements for GFS compilation. In Ap-
pendix 6, a description of the relationship between GFS
and International Public Sector Accounting Standards is
provided, while Appendix 7 describes the relationship
between GFS and other macroeconomic statistics. Ap-
pendix 8 provides the classifi cation codes used in the
GFS framework. Appendix 9 contains a glossary of
terms used in the GFS framework.