accounting methods
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(a) added value of financial accounting basic methods
added value of financial accounting methods can be divided into two kinds of production approach and income approach, the production method is the intermediate input value is increased by the total output minus the financial industry, due to the gross output and intermediate inputs accounted for more complicated and data availability and timeliness is not ideal, the current production method of accounting is pushed back by increasing the value of intermediate inputs, and calculates the added rate. Production rules for back-calculated intermediate inputs to calculate the amount of the financial sector and financial added value rate. Income approach is to create revenue from the production process point of view, a reflection of accounting methods according to the final results of the income share of production factors in the production process deserve. Income approach value added consists of four parts workers compensation, net taxes on production, depreciation of fixed assets and operating surplus components. Financial institutions reporting system more perfect, increase the value of their income method of accounting has a good basis for the implementation, therefore, increase the income approach to value accounting prevail. In accordance with the requirements of the National Bureau of Statistics, the current financial added value accounting into the accounting year and quarterly accounting of two kinds.
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(b) the annual accounts for
annual accounts for the financial added value to the income approach prevail, which is calculated as " increase the value of labor compensation = + net taxes on production + depreciation + operating surplus ", banking, securities, insurance, breakdown calculations of other financial activities vary. Workers compensation refers to the total remuneration of workers engaged in production activities deserve. Net Taxes on Production refers to production activities for engaging in corporate taxes paid to the government (not including tax) the difference between the enterprise and the government policy of deficit subsidies. Refers to the depreciation of fixed assets used in the production of buildings, machinery and equipment and other fixed assets in the accounting period wear value, reflects a shift in the value of fixed assets in the current period production. Operating Surplus refers to enterprises engaged in business activities operating profit obtained. Financial accounting income approach value-added financial value added at current prices is obtained, which is the same price with a single reduction calculation, reducing the weighted average index of the consumer price index and the price index of investment in fixed assets.
From the annual method, the most important one is to adjust the second economic census in 2008 to improve the financial sector accounting methods, including: First, the improved method of financial intermediation services indirectly measure of output ( FISIM). It introduces the concept of reference interest rates. The reference rate is not considered service factors, and to reflect the risk of loans and deposits and term structure. That financial intermediation services indirectly measured total output = (lending rate - the reference rate) × loans (reference rates - the deposit rate) + × deposit. Second, in addition to the insurance industry, other industries not included in investment income financial value added. The third is to refine the securities industry accounting. The added value of securities in accordance with the three parts of the securities industry companies, futures companies and fund industry sector enterprises accounted for separately. Fourth, improve the treatment of stamp duty on securities transactions. According to accounting principles, only the agency to pay the stamp duty on securities transactions as production tax treatment of the securities industry, individuals engaged in securities trading activities to pay stamp duty on securities transactions does not belong to the securities industry production tax. Fifth, improve the constant price accounting. Refinement of the financial sector constant price accounting method, banking, securities, insurance and other financial activities, respectively, to select a different price index or volume index were constant price accounting, changed course using a unified consumer price index investment. Among them, the banking industry using price index down calculation method deflator using the deposit and lending rates Index, LIBOR index and consumer price index of investment-weighted calculation; the securities industry uses to calculate the amount extrapolation method; the insurance industry using foreign objects amount to push the prices down the method of calculating the combination, wherein the outer portion of the amount of investment income was using the extrapolation method, using the remainder of the reduced prices method; refer to perform other financial banking methods.
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(c) the quarterly accounts
Data quarterly accounts due to financial added value that can be obtained not as good as the annual accounts comprehensive, more lag time, the use of quarterly accounts related to the speed estimation value terms, the formula is "to increase the value of the previous year = added value × (1+ the current value-added of the financial sector growth rate)", where "the current financial industry price increase value growth rate "determined by the national conversion factor as well as the right to banking, securities and insurance industries related to the amount of weight and growth rate. On the basis of the current price quarterly accounts of the financial value added, can be obtained by reducing the accounting value of the fixed base constant price value added financial quarter.
From the quarter accounting method, in 2010 the National Bureau of Statistics to make adjustments on the financial sector accounting methods: from the original estimate of a single indicator of overall financial sector, adjusted to the financial industry is divided into banks and other financial activities , securities and insurance sectors the three sectors, namely the use of deposits and loans, securities transactions and premium income accounting data, improve data accuracy. In 2012, the National Bureau of Statistics to further strengthen the financial basis of accounting information, taking into account the representation of RMB deposits and loans indicators, banks and other financial activities in quarterly accounts, an increase in the basis of accounting indicators, the growth rate of RMB deposits and loans single index calculation, changed the balance of RMB deposits and loans growth rate and the growth rate of sales tax indicator double accounting.