Government Finance Statistics Manual 2014

GFS and Other Macroeconomic Statistics 355

Figure A7.1 Diagram of the Sequence of SNA Accounts

accounts record capital transfers, the acquisition and dis-
posal of assets and liabilities, and other economic fl ows
related to assets and liabilities. Despite the large number
of accounts in the SNA, there is broad correspondence
between the structures of the GFS and SNA datasets.^6

(^6) Explicit provision is made in the SNA for fl exibility in the
presentation of stock positions and fl ows. Th e accounts described
here comprise the basic presentation described in Chapters 6
through 13 of the 2008 SNA.
A7.18 As illustrated in Table A7.2, the GFS Statement
of Operations can be divided into three sections—
namely:

• Transactions aff ecting net worth


• Transactions in nonfi nancial assets


• Transactions in fi nancial assets and liabilities.
  Th e GFS transactions aff ecting net worth (revenue
  and expense) are shown as transactions in the current

Allocation of Primary

Income Account

(Balance of primary incomes)

Generation of

Income Account

(Operating surplus/

mixed income)

Production Account

(Value added)

Secondary Distribution

of Income Account

(Disposable income)

Redistribution of Income

in Kind Account

(Adjusted disposable income)

The Use of Disposable

Income Account

(Saving)

Use of Adjusted Disposable

Income in Kind Account

(Saving)

Capital Account

(Net lending (+)/

net borrowing (-))

Financial Account

(Net lending (+)/

net borrowing (-))

Closing

Balance

Sheet

(Net worth)

Other

Changes in

Volume

Account

(Changes in net

worth due to

other changes

in volume)

Revaluation

Account

(Changes in net

worth due to

revaluations)

Alternative presentation

Opening

Balance

Sheet

(Net worth)

(^) Note: Balancing items are shown in italics.