European System of Accounts
Encyclopedia
The European System of Accounts (often abbreviated as ESA) is the system of national accounts
and regional accounts used by members of the European Union
. It was most recently updated in 1995 (ESA 95).
The ESA 95 is fully consistent with the United Nations System of National Accounts
(1993 SNA) in definitions, accounting rules and classifications. However, it incorporates certain differences, particularly in its presentation, that are more in line with use within the European Union. The ESA 95 is undergoing a revision to meet the requirements of the update of the SNA 1993 launched in 2003 under the auspices of the United Nations.
National accounts
National accounts or national account systems are the implementation of complete and consistent accounting techniques for measuring the economic activity of a nation. These include detailed underlying measures that rely on double-entry accounting...
and regional accounts used by members of the European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
. It was most recently updated in 1995 (ESA 95).
The ESA 95 is fully consistent with the United Nations System of National Accounts
United Nations System of National Accounts
The United Nations System of National Accounts is an international standard system of national accounts, the first international standard being published in 1953...
(1993 SNA) in definitions, accounting rules and classifications. However, it incorporates certain differences, particularly in its presentation, that are more in line with use within the European Union. The ESA 95 is undergoing a revision to meet the requirements of the update of the SNA 1993 launched in 2003 under the auspices of the United Nations.
See also
- Value addedValue addedIn economics, the difference between the sale price and the production cost of a product is the value added per unit. Summing value added per unit over all units sold is total value added. Total value added is equivalent to Revenue less Outside Purchases...
- Capital accountCapital accountThe current and capital accounts make up a country's balance of payment . Together these three accounts tell a story about the state of an economy, its economic outlook and its strategies for achieving its desired goals...
- Balance of paymentsBalance of paymentsBalance of payments accounts are an accounting record of all monetary transactions between a country and the rest of the world.These transactions include payments for the country's exports and imports of goods, services, financial capital, and financial transfers...
- Gross outputGross OutputGross output is an economic concept used in national accounts such as the United Nations System of National Accounts and the US National Income and Product Accounts...
- Net outputNet outputNet output is an accounting concept used in national accounts such as the United Nations System of National Accounts and the NIPAs, and sometimes in corporate or government accounts. The concept was originally invented to measure the total net addition to a country's stock of wealth created by...
- Gross national income in the European UnionGross national income in the European UnionGross national income at market prices in the of 27 Member States ' amounted to EUR 25000 per inhabitant in 2008. In 2009 GNI in EU-27 fell by -5.5% over the year 2008....