Government Finance Statistics Manual 2014

398 Government Finance Statistics Manual 2014

Center of predominant eco-

nomic interest

An institutional unit has a center of predominant economic interest in an eco-

nomic territory when there exists, within the economic territory, some loca-

tion, dwelling, place of production, or other premises on which, or from which,

the unit engages and intends to continue engaging, either indefi nitely or over

a fi nite but long period of time, in economic activities and transactions on a

signifi cant scale .....................................................................................................2.12

Central bank Th e central bank is the national fi nancial institution that exercises con trol over

key aspects of the fi nancial system .................................................................. 2.118

Central government

subsector

Th e central government subsector consists of the institutional unit(s) of the

central government plus those nonmarket NPIs that are controlled by the cen-

tral government. Th e political authority of the central government extends

over the entire territory of the country .............................................................2.85

Change in net worth due to

holding gains or losses

Change in net worth due to holding gains or losses is defi ned as the sum of

the positive or negative holding gains and holding losses on all assets and li-

abilities ................................................................................................................4.37

Change in net worth due to

other changes in the volume

of assets and liabilities

Change in net worth due to other changes in the volume of assets and liabilities

is defi ned as the sum of the positive and negative other changes in the volume

of assets and liabilities ..........................................................................................4.38

Change in net worth due to

other economic fl ows

Change in net worth due to other economic fl ows is defi ned as the sum of the

change in net worth due to holding gains or losses and the change in net worth

due to other changes in the volume of assets .......................................... 4.36, 10.2

Claim (benefi t or call) A claim (benefi t or call) is the amount payable to the policyholder by the in-

surer in respect of an event covered by the policy occurring in the period for

which the policy is valid ...................................................................................A4.77

Collective service A collective service is a service provided simultaneously to all members of the

community or to all members of a particular section of the community, such as

all households living in a particular region .................................................... 6.134

Commitments basis of

recording

In the commitments basis of recording, fl ows are recorded when an institu-

tional unit has committed itself to a transaction ..............................................3.65

Compensation of employees Compensation of employees is the total remuneration, in cash or in kind, pay-

able to an individual in an employer-employee relationship in return for work

performed by the latter during the reporting period ........................................6.9

Computer software Computer soft ware includes computer programs, program descriptions, and

supporting materials for both systems and applications soft ware that are ex-

pected to be used for more than one year .........................................................7.70

Consolidation Consolidation is a method of presenting statistics for a set of units (or entities)

as if they constituted a single unit .......................................................... 3.153, 9.18

Consumption of fi xed capital Consumption of fi xed capital is the decline, during the course of the reporting

period, in the current value of the stock of fi xed assets owned and used by a

government unit as a result of physical deterioration, normal obsolescence, or

normal accidental damage ..................................................................................6.53

Contingent liabilities Contingent liabilities are obligations that do not arise unless a particular, dis-

crete event(s) occurs in the future .......................................................... 4.47, 7.251