| Classification
of Assets |
Definitions |
|
Nonfinancial assets
(AN.) |
|
Entities, over which
ownership rights are enforced by institutional units,
individually or collectively, and from which economic
benefits may be derived by their owners by holding them,
or using them over a period of time, that consist of
tangible assets, both produced and nonproduced, and most
intangible assets for which no corresponding liabilities
are recorded. |
o Produced assets
(AN.1) |
|
Non-financial assets that
have come into existence as outputs from production
processes. Produced assets consist of fixed assets,
inventories and valuables, as defined below. |
oo Fixed assets (AN.11)
|
|
Produced assets that are
used repeatedly or continuously in production processes
for more than one year. Fixed assets consist of tangible
and intangible fixed assets, as defined below. |
ooo Tangible fixed
assets (AN.111) |
|
Fixed assets that consist
of dwellings other buildings and structures machinery and
equipment and cultivated assets, as defined below. |
oooo Dwellings
(AN.1111) |
|
Buildings that are used
entirely or primarily as residences, including any
associated structures, such as garages, and all permanent
fixtures customarily installed in residences. Houseboats,
barges, mobile homes and caravans used as principal
residences of households are also included, as are
historic monuments identified primarily as dwellings.
Costs of site clearance and preparation are also
included. |
|
Examples
include residential buildings, such as one and
twodwelling buildings and other residential buildings
intended for nontransient occupancy. |
|
| Uncompleted
dwellings are included to the extent that the ultimate
user is deemed to have taken ownership, either because
the construction is on own account or as evidenced by the
existence of a contract of sale/purchase. Dwellings
acquired for military personnel are included because they
are used, as are dwellings acquired by civilian units,
for the production of housing services. |
||
oooo Other buildings
and structures |
|
Nonresidential buildings
and other structures, as defined below. |
|
Uncompleted
buildings and structures are included to the extent that
the ultimate user is deemed to have taken ownership,
either because the construction is for own use or as
evidenced by the existence of a contract of
sale/purchase. Buildings and structures acquired for
military purposes are included to the extent that they
resemble civilian buildings acquired for purposes of
production and are used in the same way. |
|
ooooo Nonresidential
buildings (AN.11121) |
|
Buildings other than
dwellings, including fixtures, facilities and equipment
that are integral parts of the structures and costs of
site clearance and preparation. Historic monuments
identified primarily as nonresidential buildings are also
included. |
|
Examples
include warehouse and industrial buildings, commercial
buildings, buildings for public entertainment, hotels,
restaurants, educational buildings, health buildings,
etc. |
|
ooooo Other structures
(AN.11122) |
|
Structures other than
buildings, including the cost of the streets, sewers and
site clearance and preparation other than for residential
or non residential buildings. Also included are historic
monuments for which identification as dwellings or
nonresidential buildings is not possible and shafts,
tunnels and other structures associated with mining
subsoil assets. (Major improvements to land, such as dams
and dikes for flood control, are included in the value of
land.) |
|
Examples
include highways, streets, roads, railways and airfield
runways bridges, elevated highways, tunnels and subways
waterways, harbours, dams and other waterworks
long-distance pipelines, communication and power lines
local pipelines and cables, ancillary works constructions
for mining and manufacture and constructions for sport
and recreation. |
|
oooo Machinery and
equipment (AN.1113) |
|
Transport equipment and
other machinery and equipment, as defined below other
than that acquired by households for final consumption.
Tools that are relatively inexpensive and purchased at a
relatively steady rate, such as hand tools, may be
excluded. Also excluded is machinery and equipment
integral to buildings that is included in dwellings and
nonresidential buildings. |
|
Uncompleted
machinery and equipment is excluded, unless produced for
own use, because the ultimate user is deemed to take
ownership only on delivery of the asset. Machinery and
equipment acquired for military purposes is included to
the extent that it resembles goods acquired by civilian
units for purposes of production and that the military
uses in the same way. |
|
| Machinery
and equipment acquired by households for final
consumption is not treated as an asset. It is instead
included in the memorandum item ‘consumer durables’ in the balance sheet for households.
Houseboats, barges, mobile homes and caravans used by
households as principal residences are included in
dwellings. |
||
ooooo Transport
equipment (AN.11131) |
|
Equipment for moving
people and objects. Examples include products other than
parts included in CPA |
ooooo Other machinery
and equipment |
|
Machinery and equipment
not elsewhere classified. Examples include products other
than parts, installation, repair and maintenance services
included in CPA groups 29.1, machinery for the production
and use of mechanical power, except aircraft, vehicle and
cycle engines 29.2, other general purpose machinery 29.3,
agricultural and forestry machinery 29.4, machine-tools
29.5 other special purpose machinery in CPA divisions 30,
office machinery and computers 31, electrical machinery
and apparatus n.e.c 32, radio, television and
communication equipment and apparatus and 33, medical,
precision and optical instruments, watches and clocks.
Other examples are products other than parts,
installation, repair and maintenance services included in
CPA category 23.30.2, fuel elements (cartridges),
non-irradiated, for nuclear reactors in CPA groups 36.1,
furniture 36.3, musical instruments 36.4, sport goods and
28.3, steam generators, except central heating hot water
boilers. |
oooo Cultivated assets
(AN.1114) |
|
Livestock for breeding,
dairy, draught, etc. and vineyards, orchards and other
plantations of trees yielding repeat products that are
under the direct control, responsibility and management
of institutional units, as defined below. |
|
Immature
cultivated assets are excluded unless produced for own
use. |
|
ooooo Livestock for
breeding, dairy, draught, etc. (AN.11141) |
|
Livestock that are kept
for the products they provide year after year. They
include breeding stocks (including fish and poultry),
dairy cattle, draught animals, sheep or other animals
used for wool production and animals used for
transportation, racing or entertainment. |
ooooo Vineyards,
orchards and other |
|
Trees (including vines and
shrubs) cultivated for products they yield year after
year, including those cultivated for fruits and nuts, for
sap and resin and for bark and leaf products. |
ooo Intangible fixed
assets (AN.112) |
|
Fixed assets that consist
of mineral exploration, computer software, entertainment,
literary or artistic originals and other intangible fixed
assets, as defined below, intended to be used for more
than one year. |
oooo Mineral
exploration (AN.1121) |
|
The value of expenditures
on exploration for petroleum and natural gas and for
nonpetroleum deposits. These expenditures include
prelicence costs, licence and acquisition costs,
appraisal costs and the costs of actual test drilling and
boring, as well as the costs of aerial and other surveys,
transportation costs, etc., incurred to make it possible
to carry out the tests. |
oooo Computer software
(AN.1122) |
|
Computer programs, program
descriptions and supporting materials for both systems
and applications software. Included are purchased
software and software developed on own account, if the
expenditure is large. Large expenditures on the purchase,
development or extension of computer databases that are
expected to be used for more than one year, whether
marketed or not, are also included. |
oooo Entertainment,
literary or artistic |
|
Original films, sound
recordings, manuscripts, tapes, models, etc., on which
drama performances, radio and television programmes,
musical performances, sporting events, literary and
artistic output, etc., are recorded or embodied. Included
are works produced on own account. In some cases, such as
films, there may be multiple originals. |
oooo Other intangible
fixed assets |
|
New information,
specialised knowledge, etc., not elsewhere classified,
whose use in production is restricted to the units that
have established ownership rights over them or to other
units licensed by the latter. |
oo Inventories (AN.12) |
|
Produced assets that
consist of goods and services that came into existence in
the current period or in an earlier period held for sale,
use in production or other use at a later date. They
consist of materials and supplies, work in progress,
finished goods and goods for resale, as defined below. |
|
Included are
all inventories held by government, including, but not
limited to, inventories of strategic materials, grains
and other commodities of special importance to the
nation. |
|
ooo Materials and
supplies (AN.121) |
|
Goods that their owners
intend to use as intermediate inputs in their own
production processes, not to resell. |
ooo Work in progress
(AN.122) |
|
Goods and services that
are partially completed but that are not usually turned
over to other units without further processing or that
are not mature and whose production process will be
continued in a subsequent period by the same producer.
Excluded are partially completed structures for which the
ultimate owner is deemed to have taken ownership, either
because the production is for own use or as evidenced by
the existence of a contract of sale/purchase. They
consist of work in progress on cultivated assets and
other work in progress, as defined below. |
oooo Work in progress
on cultivated assets |
|
Livestock raised for
products yielded only on slaughter, such as fowl and fish
raised commercially, trees and other vegetation yielding
onceonly products on destruction and immature cultivated
assets yielding repeat products. |
oooo Other work in
progress (AN.1222) |
|
Goods other than
cultivated assets and services that have been partially
processed, fabricated or assembled by the producer but
that are not usually sold, shipped or turned over to
others without further processing. |
ooo Finished goods
(AN.123) |
|
Goods that are ready for
sale or shipment by the producer. |
ooo Goods for resale
(AN.124) |
|
Goods acquired by
enterprises, such as wholesalers and retailers, for the
purpose of reselling them without further processing
(that is, not transformed other than by presenting them
in ways that are attractive to the customer). |
oo Valuables (AN.13) |
|
Produced assets that are
not used primarily for production or consumption, that
are expected to appreciate or at least not to decline in
real value, that do not deteriorate over time under
normal conditions and that are acquired and held
primarily as stores of value. Valuables consist of
precious metals and stones, antiques and other art
objects and other valuables, as defined below. |
ooo Precious metals and
stones (AN.131) |
|
Precious metals and stones
that are not held by enterprises for use as inputs into
processes of production. |
ooo Antiques and other
art objects (AN.132) |
|
Paintings, sculptures,
etc., recognised as works of art and antiques. |
ooo Other valuables
(AN.139) |
|
Valuables not elsewhere
classified, such as collections and jewellery of
significant value fashioned out of precious stones and
metals. |
o Nonproduced assets
(AN.2) |
|
Non-financial assets that
come into existence other than through processes of
production. Non-produced assets consist of tangible
assets and intangible assets, as defined below. Also
included are costs of ownership transfer on and major
improvements to these assets. |
oo Tangible nonproduced
assets (AN.21) |
|
Non-produced assets that
occur in nature and over which ownership may be enforced
and transferred. Environmental assets over which
ownership rights have not, or cannot, be enforced, such
as open seas or air, are excluded. Tangible non-produced
assets consist of land, subsoil assets, non-cultivated
biological resources and water resources, as defined
below. |
ooo Land (AN.211) |
|
The ground, including the
soil covering and any associated surface waters, over
which ownership rights are enforced. Also included are
major improvements that cannot be physically separated
from the land itself. Excluded are any buildings or other
structures situated on it or running through it
cultivated crops, trees and animals subsoil assets
noncultivated biological resources and water resources
below the ground. Land consists of land underlying
buildings and structures, land under cultivation,
recreational land and associated surface water and other
land and associated surface water, as defined below. |
oooo Land underlying
buildings and structures (AN.2111) |
|
Land on which dwellings,
nonresidential buildings and structures are constructed
or into which their foundations are dug, including yards
and gardens deemed an integral part of farm and nonfarm
dwellings and access roads to farms. |
oooo Land under
cultivation (AN.2112) |
|
Land on which agricultural
or horticultural production is carried on for commercial
or subsistence purposes, including, in principle, land
under plantations, orchards and vineyards. |
oooo Recreational land
and associated surface water (AN.2113) |
|
Land that is used as
privately owned amenity land, parklands and pleasure
grounds and publicly owned parks and recreational areas,
together with associated surface water. |
oooo Other land and
associated surface water (AN.2119) |
|
Land not elsewhere
classified, including private gardens and plots not
cultivated for subsistence or commercial purposes,
communal grazing land, land surrounding dwellings in
excess of those yards and gardens deemed an integral part
of farm and nonfarm dwellings and associated surface
water. |
ooo Subsoil assets
(AN.212) |
|
Proven reserves of mineral
deposits located on or below the earth’s surface that are economically
exploitable, given current technology and relative
prices. Ownership rights to the subsoil assets are
usually separable from those to the land itself. Subsoil
assets consist of coal, oil and natural gas reserves,
metallic mineral reserves and non-metallic mineral
reserves, as defined below. |
oooo Coal, oil and
natural gas reserves |
|
Anthracite, bituminous and
brown coal deposits petroleum and natural gas reserves
and fields. |
oooo Metallic mineral
reserves (AN.2122) |
|
Ferrous, nonferrous and
precious metal ore deposits. |
oooo Non-metallic
mineral reserves |
|
Stone quarries and clay
and sand pits chemical and fertiliser mineral deposits
salt deposits deposits of quartz, gypsum, natural gem
stones, asphalt and bitumen, peat and other nonmetallic
minerals other than coal and petroleum. |
ooo Noncultivated
biological resources |
|
Animals and plants that
yield both onceonly and repeat products over which
ownership rights are enforced but for which natural
growth and/or regeneration is not under the direct
control, responsibility and management of institutional
units. Examples are virgin forests and fisheries within
the territory of the country. Only those resources that
are currently, or are likely soon to be, exploitable for
economic purposes should be included. |
ooo Water resources
(AN.214) |
|
Aquifers and other
groundwater resources to the extent that their scarcity
leads to the enforcement of ownership and/or use rights,
market valuation and some measure of economic control. |
oo Intangible
nonproduced assets (AN.22) |
|
Non-produced assets that
are constructs of society. They are evidenced by legal or
accounting actions, such as the granting of a patent or
the conveyance of some economic benefit to a third party.
Some entitle their owners to engage in certain specific
activities and to exclude other institutional units from
doing so except with the permission of the owner.
Intangible non-produced assets consist of patented
entities, leases and other transferable contracts,
purchased goodwill and other intangible non-produced
assets. |
ooo Patented entities
(AN.221) |
|
Inventions in categories
of technical novelty that, by law or by judicial
decision, can be afforded patent protection. Examples
include constitutions of matter, processes, mechanisms,
electrical and electronic circuits and devices,
pharmaceutical formulations and new varieties of living
things produced by artifice. |
ooo Leases and other
transferable contracts |
|
Leases or contracts where
the lessee has the right to convey the lease to a third
party independently of the lessor. Examples include
leases of land and buildings and other structures,
concessions or exclusive rights to exploit mineral
deposits or fishing grounds, transferable contracts with
athletes and authors and options to buy tangible assets
not yet produced. Leases on the rental of machinery are
excluded from nonfinancial intangible assets. |
ooo Purchased goodwill
(AN.223) |
|
The difference between the
value paid for an enterprise as a going concern and the
sum of its assets less the sum of its liabilities, each
item of which has been separately identified and valued.
The value of goodwill, therefore, includes anything of
long-term benefit to the business that has not been
separately identified as an asset, as well as the value
of the fact that the group of assets is used jointly and
is not simply a collection of separable assets. |
ooo Other intangible
nonproduced assets |
|
Intangible nonproduced
assets not elsewhere classified. |
Financial assets and
liabilities (AF.) |
|
Financial assets are
economic assets comprising means of payment, financial
claims and economic assets which are close to financial
claims in nature. |
|
Means of
payment consist of monetary gold, special drawing rights,
currency and transferable deposits. |
|
| Financial
claims entitle their owners, the creditors, to receive a
payment or series of payments without any
counter-performance from other institutional units, the
debtors, who have incurred the counterpart liabilities. |
||
| Examples of
economic assets which are close to financial claims in
nature are financial derivatives and shares and other
equity. |
||
o Monetary gold and
SDRs (AF.1) |
|
The financial assets
classified in this category are the only financial assets
for which there are no counterpart liabilities in the
System. |
oo Monetary gold
(AF.11) |
|
Gold held as a component
of foreign reserves by monetary authorities or by others
who are subject to the effective control of the
authorities. |
oo Special drawing
rights (SDRs) (AF.12) |
|
International reserve
assets created by the International Monetary Fund (IMF)
and allocated to its members to supplement existing
reserve assets. |
o Currency and deposits
(AF.2) |
|
Currency in circulation
and all types of deposits in national and in foreign
currency. |
oo Currency (AF.21) |
|
Notes and coins in
circulation that are commonly used to make payments. |
oo Transferable
deposits (AF.22) |
|
Deposits (in national or
in foreign currency) which are immediately convertible
into currency or which are transferable by cheque, banker’s order, debit entry or the like,
both without any kind of significant restriction or
penalty. |
oo Other deposits
(AF.29) |
|
Deposits (in national or
in foreign currency) other than transferable deposits.
Other deposits cannot be used to make payments at any
moment and they are not convertible into currency or
transferable deposits without any kind of significant
restriction or penalty. |
o Securities other than
shares (AF.3) |
|
Financial assets which are
negotiable and bearer instruments, are usually traded on
secondary markets, and do not grant the holder any
ownership rights in the institutional unit issuing them. |
oo Securities other
than shares, |
|
Securities other than
shares which give the holder the unconditional right to a
fixed or contractually determined variable money income
in the form of coupon payments (interest) and/or a stated
fixed sum on a specified date or dates or starting from a
date fixed at the time of issue. |
ooo Short-term
securities other than shares, |
|
Securities other than
shares, whose original maturity is normally one year or
less and in exceptional cases two years at the maximum,
except financial derivatives. |
ooo Long-term
securities other than shares, |
|
Securities other than
shares, whose original maturity is normally more than one
year, and in exceptional cases more than two years at the
minimum, except financial derivatives. |
oo Financial
derivatives (AF.34) |
|
Financial assets based on
or derived from a different underlying instrument. The
underlying instrument is usually another financial asset,
but may also be a commodity or an index. |
o Loans (AF.4) |
|
Financial assets created
when creditors lend funds to debtors, either directly or
through brokers, which are either evidenced by
non-negotiable documents or not evidenced by documents. |
oo Short-term loans
(AF.41) |
|
Loans whose original
maturity is normally one year or less, and in exceptional
cases two years at the maximum, and loans repayable on
demand. |
oo Long-term loans
(AF.42) |
|
Loans whose original
maturity is normally more than one year, and in
exceptional cases more than two years at the minimum. |
o Shares and other
equity (AF.5) |
|
Financial assets which
represent property rights on corporations or
quasi-corporations. These financial assets generally
entitle the holders to a share in the profits of the
corporations or quasi-corporations and to a share in
their heir net assets in the event of liquidation. |
oo Shares and other
equity, |
|
Financial assets except
mutual fund shares which represent property rights on
corporations or quasi-corporations. These financial
assets generally entitle the holders to a share in the
profits of the corporations or quasi-corporations and to
a share in their net assets in the event of liquidation. |
ooo Quoted shares, |
Shares cover beneficial
interest in the capital of corporations in the form of
securities which in principle are negotiable. Quoted
shares cover those shares with prices quoted on a
recognised stock exchange or other form of secondary
market. Unquoted shares cover those shares that are not
quoted. |
|
ooo Other equity
(AF.513) |
|
All forms of equities
other than those classified in sub-positions AF.511 and
AF.512, and in sub-category AF.52. |
oo Mutual funds shares
(AF.52) |
|
Shares issued by a
specific type of financial corporations, whose exclusive
purpose is to invest the funds collected on the money
market, the capital market and/or in real estate. |
o Insurance technical
reserves (AF.6) |
|
Technical provisions of
insurance corporations and (autonomous and
non-autonomous) pension funds against policy holders or
beneficiaries as laid down in the Council Directive
91/674/EEC of 19 December 1991 on the annual accounts and
consolidated accounts of insurance undertakings. |
oo Net equity of
households in life |
|
Provisions set aside in
the corporations concerned for the purpose of obtaining,
once the established conditions are met, the claims and
benefits foreseen. |
ooo Net equity of
households in life |
|
Provisions against
outstanding risks and provisions for with-profit
insurance that add to the value on maturity of
with-profit endowments or similar policies. |
ooo Net equity of
households in pensions |
|
Provisions held by
autonomous and non-autonomous pension funds established
by employers and/or employees or groups of self-employed
to provide pensions for employees or self-employed. |
oo Prepayments of
insurance premiums and reserves for outstanding claims |
|
Provisions established by
insurance corporations and (autonomous and
non-autonomous) pension funds for |
|
- the amount
representing that part of gross premiums written which is
to be allocated to the following accounting period
(prepayments of insurance premiums); |
|
| - the total
estimated ultimate cost of settling all claims arising
from events which have occurred up to the end of the
accounting period, whether reported or not, less amounts
already paid in respect of such claims (provisions for
outstanding claims). |
||
o Other accounts
receivable/payable |
|
Financial assets which are
created as a counterpart of a financial or a
non-financial transaction in cases where there is a
timing difference between this transaction and the
corresponding payment. |
oo Trade credits and
advances |
|
Financial assets arising
from the direct extension of credit by suppliers and
buyers for goods and services transactions and advance
payments for work that is in progress or to be undertaken
and associated with such transactions. |
oo Other accounts
receivable/payable, |
|
Financial assets which
arise from timing differences between distributive
transactions or financial transactions on the secondary
market and the corresponding payment. It includes also
financial claims due to income accruing over time. |
Memorandum items |
|
The System calls for
several memorandum items to show assets not separately
identified in the central framework that are of more
specialised analytic interest. |
Consumer durables
(AN.m) |
|
Durable goods acquired by
households for final consumption (i.e. those that are not
used by households as stores of value or by
unincorporated enterprises owned by households for
purposes of production). |
Direct foreign
investment (AF.m) |
|
Direct foreign investment
involves a long-term relationship reflecting a lasting
interest of a resident institutional unit in one economy
(‘direct investor’) in an institutional unit resident
in an economy other than that of the investor (‘direct investment enterprise’). The direct investor’s purpose is to exert a significant
degree of influence on the management of the enterprise
resident in the other economy. |
|
