Results of AEG e-Discussion On RETAINED EARNINGS OF MUTUAL FUNDS, INSURANCE CORPORATIONS AND PENSION FUNDS UN STATISTICS DIVISION Economic Statistics.

Slides:

Advertisements

Similar presentations

Treatment of General Government Pension Schemes (Superannuation) in ABS Government Finance Statistics and the Australian System of National Accounts OECD/ABS.

Advertisements

Review and issues encountered in the application of SNA concepts of Income and savings on pensions fund measurements in Australia Derick Cullen Macroeconomic.

1 Report to the AEG Findings of the Task Force on Employers Retirement Schemes Adriaan Bloem, IMF John Ruser, BEA Co-chairs.

Retained earnings of Mutual funds SNA review issue 42.

1 The treatment of holding gains/losses in the estimates of investment income attributable to insurance policyholders and pension beneficiaries Advisory.

FA3 Lesson 3. Shareholders’ Equity 1.Definitions 2.Issuance of share capital 3.Retirement of share capital 4.Treasury stock 5.Dividends 6.Stock dividends.

McGraw-Hill/Irwin © 2008 The McGraw-Hill Companies, Inc., All Rights Reserved. 1-1 McGraw-Hill/Irwin © 2008 The McGraw-Hill Companies, Inc., All Rights.

March 2007 AEG meeting Chapter 13 Main substantive comments.

Discussion Section #1 Financial Accounting

1 Treatment of holding gains/losses in estimates of investment income attributable to insurance policyholders and pension beneficiaries 9 th meeting of.

Imputation of Property Income in the Case of Liabilities Between the Sponsor and the Pension Fund Brent Moulton Advisory Expert Group on National.

Chapter 17 Anne Harrison Editor. Six sections Insurance and social insurance oher than pensions Standardised guarantees Pensions Financial services Contracts,

1 TOWARD THE INTEGRATION OF THE INSTITUTIONAL INVESTORS DATABASE INTO THE FINANCIAL ACCOUNTS DATABASE Working Party on Financial Statistics October.

REPORTING CASH FLOWS APPENDIX B Warfield Wyegandt Kieso

Classification of Financial Instruments 1993 SNA Chapter 11 MFSM Chapter 4.

Non-life insurance services 1 UN STATISTICS DIVISION Economic Statistics Branch National Accounts Section UNSD/ECA National accounts workshop November.

Changes to the compilation of UK National Accounts and Balance of Payments Statistics Presenter: Dr Robert Dunn, ONS.

PRINCIPLES OF MANAGERIAL ACCOUNTING CHAPTER 17 (THE LAST ONE!!)

Financial Sector (continued) Training Workshop on System of National Accounts for ECO Member Countries October 2012, Tehran, Islamic Republic of.

AEG recommendations on Non-life insurance services (Issue 5) Workshop on National Accounts December 2006, Cairo 1 Gulab Singh UN STATISTICS DIVISION.

Principles of Financial Accounting Chapter 1 Forms of Business Organizations Sole Proprietorship Easy to establish Owner is control of assets and operations.

Copyright 2010, The World Bank Group. All Rights Reserved. 1 GOVERNMENT FINANCE STATISTICS INTRODUCTION TO GOVERNMENT FINANCE STATISTICS Part 2 This lecture.

1 The Accounting Cycle 1 - Journalize transactions. 2 - Post entries to the ledger accounts. 3 - Prepare un- adjusted trial balance. 4 - Make end- of-year.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Operating Decisions and the Income Statement Chapter 3.

Overview of the 2008 SNA and the GFSM Update Workshop on the Implementation and Links between the System of National Accounts, 2008 and the Government.

Mutual funds – compiling data in income and services BOP Working Group Eurostat November 2012 Document BP/12/49 Item 20 of the agenda Statec, MAC3.

P.Ariyasena Chief Accountant Ministry of Foreign Employments promotion and Welfare.

Accounting (Basics) - Lecture 8 Liabilities and Equity.

PUBLIC/PRIVATE SECTOR DELINEATION and GOVERNMENT TRANSACTIONS WITH PUBLIC CORPORATIONS UNSD/NA/MR1 UN STATISTICS DIVISION Economic Statistics Branch National.

Progress Report on the Review of the SNA Carol S. Carson Project Manager Working Party on National Accounts OECD, Paris, October 11-14, 2005.

Retained Earnings of Mutual Funds. Current treatment Direct foreign investment, insurance and pension funds: cases where imputation is made for retained.

UNSD/NA/GS1 Mineral Exploration (Issue 17) UNSD/NA/GS1 Gulab Singh UN STATISTICS DIVISION Economic Statistics Branch National Accounts Section.

McGraw-Hill/Irwin © 2008 The McGraw-Hill Companies, Inc., All Rights Reserved. 1-1 McGraw-Hill/Irwin © 2008 The McGraw-Hill Companies, Inc., All Rights.

The concept of income. 11 Items 1.Clarification of the income concept in the SNA 2.GDP valued only at basic prices 3.The role of taxes and subsidies on.

FISIM UNSD/NA/MR1 UN STATISTICS DIVISION Economic Statistics Branch National Accounts Section.

Government Transactions with Public Corporations (earnings and funding) (issue 34) UNSD/NA/GS 1 UN STATISTICS DIVISION Economic Statistics Branch National.

Results of the AEG e-Consultation on Measurement of Database in National Accounts UN STATISTICS DIVISION Economic Statistics BranchNational Accounts SectionUN.

Flow of Presentation  Balance of Payments (BOP) Survey  Q & A  Annual System of National Accounts (SNA) Survey  Q & A.

Herman Smith UNSD 10 th Meeting of the Advisory Expert Group on National Accounts April 2016, Paris The accrual recording of property income in the.

Computation of book profits by Ind AS compliant companies for levy of MAT Customer Care No

Chapter 16-1 CHAPTER 16 INVESTMENTS Accounting Principles, Eighth Edition.

Results of the AEG e-Consultation on Water as an Asset in the SNA

Accounting Cycle With horizontal worksheet (in place of journals, ledgers, trial balance) and Income Statement, Balance Sheet, Cash Flow Statement.

Section 3: Bond Retirement

Results of AEG e-Discussion on Illegal Activities in the 1993 SNA

© 2008 The McGraw-Hill Companies, Inc., All Rights Reserved.

Benson Sim United Nations Statistics Division

ACCOUNTING CYCLE OF A CORPORATION

Benson Sim United Nations Statistics Division

Section 22 Liabilities & Equity

Results of AEG e-Discussion On Non-Monetary Gold

UN Statistics Division

Item 12: Property Income ESTP course: ESA 2010 National Accounts

Results of AEG e-Discussion On Measurement of Non-Market Volume Output

Purchased Goodwill and Marketing Assets in the SNA

Outcome of AEG Consultation on the Treatment of Negative Interest Rates Eleventh Meeting of the Advisory Expert Group on National Accounts New York 5-7.

Insurance and pensions funds

Business Transactions and the Accounting Equation

AEG Recommendations on Mineral Exploration

Asset-based Reallocations

Financial Sector (continued)

Insurance and pensions funds

UN STATISTICS DIVISION Economic Statistics Branch

Results of the AEG e-consultation on Multi-territory enterprises

Item 12: Property Income ESTP course on National Accounts ESA 2010

UN STATISTICS DIVISION Economic Statistics Branch

Results of the AEG e-Discussion on Concept of Persons in 1993 SNA Rev

Results of the AEG e-discussion on Reverse transactions

Results of the AEG e-discussion on Migrant transfers

ESTP Course Balance of Payments – Introductory course Paris, May 2014 Primary Income.

Presentation transcript:

Results of AEG e-Discussion On RETAINED EARNINGS OF MUTUAL FUNDS, INSURANCE CORPORATIONS AND PENSION FUNDS UN STATISTICS DIVISION Economic Statistics Branch National Accounts Section

Retained Earnings of Mutual Funds …. July 2005 AEG agree on the principle of recording retained earnings in investment funds in a similar way to income attributed to insurance policy holders. The AEG requested further clarification on: Exact recording of the property income flow, Definition of retained earnings,  Elaboration of the parallel with insurance transactions. Role of holding gains in the attribution of income to share holders. Definition of investment funds needs to be further refined and the terminology to be adopted for the unit and the instrument to be re-examined.

Retained Earnings of Mutual Funds …. Question Response received Total Agree Disagree No opi 1 Do you agree to exclude holding gains or losses arising from investment funds’ financial investment from property income attributed to holders of assets in these funds resulting from the net operating surplus of investment funds? At a later stage, the question could be part of a broader discussion, in particular of the definition of income itself, beyond the publication of the next edition of the SNA. 20 - 2 Do you agree that property income attributed to holders of investment funds on an accruals basis should be recorded as a new property income category ‘property income attributed to holders of investment funds’ which should be further split into ‘dividends distributed to investment fund shareholders’ and ‘retained earnings attributed to investment fund shareholders’? 18 3 Do you agree that the counter-entry of ‘retained earnings attributed to investment fund shareholders’ should be recorded as a new financial asset category ‘investment fund shares/units’? 19

Retained Earnings of Mutual Funds …. Conclusions of the e-discussion:  AEG members participating in the e-discussion overwhelmingly supported the recommendations.  Comments suggest that the terminology could be further improved.

Thank You