On Harmonization of Business Accounting and the SNA

The article considers a wide range of questions pertaining to possible and applicable harmonization of business accounting and the SNA which would, if implemented, facilitate the improvement of the information base for the compilation of national accounts and consistency of analysis of economy at micro and macro levels. The authors note that total harmonization of the two systems of information cannot be achieved due to diff erences in their key objectives. The harmonization of selected indicators and classifi cation, however, is possible and useful. In this context, the views on this matter of internationally-recognized national accounts experts, such as R. Ruggles (the USA) and F. Bos (the Netherlands), are commented on. A comparative analysis of concepts and defi nitions of some indicators of both systems is presented in the article. In particular, the diff erences between the income defi nitions. For instance, it is noted that the SNA defi nition of income is based on the concept developed by J. Hiсks and it excludes income from sales of assets and holding gains, whereas in business accounting this method is not adopted. The diff erences between two systems in defi nitions of sale of output, input, profi t and methods of valuation of indicators are also described in the article. The authors substantiate the possible directions and sequence of individual steps to the harmonization of the SNA and business accounting in the Russian Federation. They emphasize the need for close interaction between Rosstat and the Ministry of Finance of Russia in carrying out this vital work, which is necessary for creating single information, statistical and methodological space in Russia, to improve the quality of statistics and accounting, analytical work in general and management decisions.

SNA, business accounting, harmonization, concept, indicator, defi nition, transaction, asset, balance sheet

1. Ruggles N., Ruggles R. National Accounting and Economic Policy. Edward Elgar Publishing; 1999.

2. Bos F. A Systems View on Concepts of Income in the National Accounts. Paper presented at the 21th General Conference of IARIW, 1989.

3. United Nations Secretariat. System of National Accounts, 2008. New York: United Nations; 2012.

4. International Financial Reporting Standards. Moscow: Askeri-ASSA Publ.; 1998. (In Russ.)

5. Hicks J.R. Value and Capital. Oxford: Clarendon Press; 1946 (Russ. ed.: Khiks Dzh. R. Stoimost’ i Kapital. Moscow: Progress Publ.; 1993).

6. Novodvorskaya V.D., Khorin A.N., Kalinin N.G. Business Accounting and System of National Accounts. Bukhgalterskii uchet. 1993;(2). (In Russ.)