Item III.5: Improved land recognised as separate asset

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Presentation transcript:

Item III.5: Improved land recognised as separate asset Training on general introduction to ESA 2010 Luxembourg, 9 - 10 December 2013 Eurostat, JMO M4

Land improvements - content Definition, characteristics, registration Change in ESA2010 Separation land and land improvements Borderline cases Exercises

1.Definition, characteristics, registration (1) Definition land improvements Result of actions that lead to major improvements in the quantity, quality or productivity of land, or prevent its deterioration (ESA Annex 7.1) Examples Land clearance Land contouring Creation of wells and watering holes

1.Definition, characteristics, registration (2) Produced non-financial fixed asset (whereas land is non-produced) Subject to depreciation Cost of ownership transfers to be included Land improvements should be integral to the land

1.Definition, characteristics, registration (3) Stocks: on balance sheet as AN.1123 Flows (1): transactions as P.51g gross fixed capital formation, and as P.51c consumption of fixed capital Flows (2): several types of other volume changes and revaluations (K1, K2, etc.)

2. Change in ESA 2010 ESA 1995 - mismatch between stocks and transactions: Transaction in land improvement: gross fixed capital formation No corresponding stocks (to be included in AN.2111 Land) ESA 2010 - removal of mismatch: Corresponding stocks to be registered as AN.1123

3. Separation land and land improvements Land and land improvements should be separated To prevent before mentioned mismatch To enhance (international) comparability If impossible: register composite asset in category with highest value

4.Borderline between land improve-ments and other structures (1) Site clearance in view of preparing it for construction  no land improvements, but structures (AN.111, 1121, 1122) Seawalls, dykes, dams in the vicinity of land Not integral to the land Affect land of several owners Often constructed by government

4.Borderline between land improve-ments and other structures (2)  No land improvements, but other structures (AN.1122) Dam integral to land with purpose to produce electricity  no land improvements, but other structures (AN.1122)

5. Exercises (1) Exercises show Registration flows and stocks land improvements in mutual coherence (exercise 1, 2, 3) Registration of borderline case (exercise 2) Registration in case land and land improvements cannot be separated (exercise 3)