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  1. Blue Book chapters explained
  2. Overview of the UK National Accounts
  3. Summary of changes
  4. The basic accounting framework
  5. Table numbering system
  6. What is an account? What is its purpose?

Blue Book chapters explained

Chapter 1 of the Blue Book provides a summary of the UK National Accounts, including explanations and tables covering the main national and domestic aggregates, for example

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Overview of the UK National Accounts

Input-Output Supply and Use tables, analyses of gross value added at current market prices and chained volume measures, capital formation, workforce jobs by industry.

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Summary of changes

A description of the institutional sectors, the sequence of the accounts and balance sheets, an explanation of the statistical adjustment items needed to reconcile the accounts, the fullest available set of accounts providing transactions by sectors and appropriate sub-sectors of the economy (including the rest of the world).

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The basic accounting framework

The economic accounts provide the framework for a system of volume and price indices, to allow chained volume measures of aggregates such as GDP to be produced. It should be noted that in this system value added, from the production approach, is measured at basic prices (including other taxes less subsidies on production but not on products) rather than at factor cost (which excludes all taxes less subsidies on production).The whole economy is subdivided into institutional sectors with current price accounts running in sequence from the production account through to the balance sheet.

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Table numbering system

The table numbering system is designed to show relationships between the UK. - its sectors and the rest of the world. - For accounts drawn directly from the European System of Accounts 2010 (ESA 2010), - la three-part numbering system is used, whereby the first two digits denote the sector with the third digit denoting the ESA account. Not all sectors can have all types of account, so the numbering is not necessarily consecutive within each sector’s chapter. The rest of the world’s identified components of accounts 2-6 inclusive are given in a single account numbered 2. UK whole economy accounts consistent with ESA 2010 are given in section 1.6 (816.5 Kb Excel sheet) as a time series and in section 1.7 (816.5 Kb Excel sheet) in detailed matrix format with all sectors, the rest of the world, and the UK total identified.

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What is an account? What is its purpose?

An account records and displays all flows and stocks for a given aspect of economic life. The sum of resources is equal to the sum of uses with a balancing item to ensure this equality. The system of economic accounts allows the build up of accounts for different areas of the economy, highlighting, for example, production, income and financial transactions.

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Contact details for this compendium

Philip Gooding cpi@ons.gsi.gov.uk
Telephone: +44 (0)1633 456468

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