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The 3 approaches to national income accounting are the output approach, the income approach and the expenditure approach.
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What is the importance of national income accounting figures?
1. it help to know economic problem of under developed country 2. it help to measure inflationary 3. national income accounting throw the light on distribution income in economy 4. it help to measure the welfare of the citizens or country by EMMANUEL GASPER MZUMBE UNIVERSITY
What are the 3 approaches of GNP?
expenditures approach, income approach, industrial origin approach, value added approach
Uses of national income?
Uses of National Income Data:- 1:National Income as a measure of economic growth - Estimates of national income at constant prices indicate economic growth of a country. 2:National Income as an indicator of success or failure of planning - If a country has adopted planning as a means of economic growth then national income data can help in assessing the achievements of planning. 3: Useful in estimating per capita income - Per capita income is obtained by dividing national income by total population of the country. 4:Useful in assessing the performance of different production sectors - Production units of a country are broadly classified into primary, secondary and tertiary sectors. These sectors generate factor incomes. The data on factor incomes generated by these sectors can be used to measure their relative contributions to national income. 5:Useful in measuring inequalities in the distribution of income - All individuals so not have the same income. It means national income is unequally distributed among people. The extent of inequality in a country can be measured from the national income data collected through the income distribution methods. 6:Useful in measuring standards of income - The expenditure method reveals consumption expenditure and investment expenditure. If the total consumption expenditure is divided by the total investment expenditure we get per capita consumption expenditure which indicates the average standard of living of the people of the country. 7:Makes international comparisons possible - We can compare the economies of any two countries on the basis of their national income data.
Discuss the advantages and disadvantages of national income of an economy?
main advantages of national income:- 1:Study of All important sectors & Industries 2:An important fact for measuring economic development of Develop countries 3:Analysis of different sectors
What factors influence national income?
1. national resources 2. quality & quantity of the factors of production 3.develpoment of science & technology 4.political stability (or0government policies
What is the importance of national income accounting figures?
1. it help to know economic problem of under developed country 2. it help to measure inflationary 3. national income accounting throw the light on distribution income in economy 4. it help to measure the welfare of the citizens or country by EMMANUEL GASPER MZUMBE UNIVERSITY
What are the subfields of accounting?
1. Financial Accounting 2. Cost Accounting 3. Management Accounting 4. Social Accounting 5. Human Resource Accounting 6. National Accounting
What are the 3 approaches of GNP?
expenditures approach, income approach, industrial origin approach, value added approach
What are 3 financial statement in accounting?
1 - Income Statement 2 - balance sheet 3 - Cash Flow Statement
What are three corporate valuation methods?
The threes standard approaches to valuation are: 1) the income approach, 2) the market approach, and 3) the asset (or cost) approach.
When is the national accounting week in 2013?
Otoritas Jasa Keuangan (OJK) held National Accounting Week 2013 from 3 December 2012 through 27 January 2013 to develop the Indonesian economy. OFK is the name gave to Indonesia Financial Services Authority.
What is the 3 golden rules of accounting?
personal accounting nominal accounting real accounting
3 important activities in accounting process?
real accounting, nominal accounting,personal accounting
What is the 3 golden rules of?
personal accounting nominal accounting real accounting
Uses of national income?
Uses of National Income Data:- 1:National Income as a measure of economic growth - Estimates of national income at constant prices indicate economic growth of a country. 2:National Income as an indicator of success or failure of planning - If a country has adopted planning as a means of economic growth then national income data can help in assessing the achievements of planning. 3: Useful in estimating per capita income - Per capita income is obtained by dividing national income by total population of the country. 4:Useful in assessing the performance of different production sectors - Production units of a country are broadly classified into primary, secondary and tertiary sectors. These sectors generate factor incomes. The data on factor incomes generated by these sectors can be used to measure their relative contributions to national income. 5:Useful in measuring inequalities in the distribution of income - All individuals so not have the same income. It means national income is unequally distributed among people. The extent of inequality in a country can be measured from the national income data collected through the income distribution methods. 6:Useful in measuring standards of income - The expenditure method reveals consumption expenditure and investment expenditure. If the total consumption expenditure is divided by the total investment expenditure we get per capita consumption expenditure which indicates the average standard of living of the people of the country. 7:Makes international comparisons possible - We can compare the economies of any two countries on the basis of their national income data.
What are the four primary accounting financial statements?
1 - Income statement 2 - Balance sheet 3 - Cash flow statement 4 - Statement of owners equity.
What the three broad areas of accounting?
1 - Cost accounting 2 - Financial accounting 3 - Management accounting
