Fundamentals of Social Accounting

A series of social accounting matrices (SAMs) are developed in this paper from first principles. Starting with the basic concepts of an institution, real assets and financial claims, the notions of a transaction and production are introduced, and it is shown that a SAM can be developed from the fundamental transactions identity. Accounts for real assets and financial claims are then grafted on to this initial SAM by reference to a similarly fundamental assets identity. Hence, a fully articulated SAM framework is developed which covers institutions, production, assets and their appreciation.     

Proposal for a Social Accounting Matrix which Fits into the Next System of National Accounts

This paper shows that all flow accounts which may become part of the next system of national accounts (SNA) can be embedded easily in a social accounting matrix (SAM) framework. In fact, a SAM format has several advantages when compared to the traditional T-accounts for the institutional sectors. The SAM allows for more flexibility in selecting (a) the most relevant (different) classification in each account, and (b) the most relevant (different)valuation principle in each account. Compared with most currently available SAMs, the national accounting flaws matrix in this paper adds a complete supply and use system, more detail in the current institutional sector accounts, a produced capacity account recording the destination of investments by production activity, flow-of-funds matrices, an ‘other’ changes in assets account and a changes in balance sheet account. This framework is illustrated with an example for The Netherlands.     

Some Relationships between T-Accounts,Input–Output Tables and Social Accounting Matrices

Some relationships between the T-accounting format for presenting commodity balances; input–output (IO) tables; and social accounting matrices are discussed in this paper. The starting point is to recognize that IO tables do not contain all the information that is needed to complete a social accounting matrix (SAM), or, therefore, for the modelling of phenomena that depend on having a fully articulated SAM, such as the interdependence of the distribution of income and the structure of production. There is a need, therefore, to establish the character of the extra information that is required and this can be achieved by imposing the requirement that a SAM should be consistent with the basic cash identity that is fundamental to all social accounting. A second agendum is to develop the argument that, while T-accounts can, in principle, provide a database equivalent to that of a SAM, in practice, they are typically found to be an imperfect substitute. It is important, therefore, in designing a database, to go beyond the confines of an (extended) IO system and T-accounts. SAMs provide an appropriate framework for doing so.     

Updating and Estimating a Social Accounting Matrix Using Cross Entropy Methods

The problem in estimating a social accounting matrix (SAM) for a recent year is to find an efficient and cost-effective way to incorporate and reconcile information from a variety of sources, including data from prior years. Based on information theory, the paper presents a flexible 'cross entropy' (CE) approach to estimating a consistent SAM starting from inconsistent data estimated with error, a common experience in many countries. The method represents an efficient information processing rule-using only and all information available. It allows incorporating errors in variables, inequality constraints, and prior knowledge about any part of the SAM. An example is presented, applying the CE approach to data from Mozambique, using a Monte Carlo approach to compare the CE approach to the standard RAS method and to evaluate the gains in precision from utilizing additional information.     

Data,Linkages and Models: US National Income and Product Accounts in the Framework of a Social Accounting Matrix

In policy analysis, there is a continuing tension and interplay between issues, models and data. Issues and models have changed in recent years, and there is a need for evolution in the underlying economy-wide economic data base. We discuss accounting frameworks for integrating micro-survey data with macro-data from the national economic accounts. We take a modeler's perspective, arguing that new accounts are needed to support policy modeling. We discuss in detail the use of a social accounting matrix (SAM). A SAM provides a data framework which reflects an actor/transaction view of the economy and supports disaggregated economy-wide modeling. We discuss the relationship between a SAM and the existing national economic accounts for the USA, including the national income and product accounts and the input–output accounts.     

Estimation of Non-Stationary Social Accounting Matrix Coefficients with Supply-Side Information

Given aggregated data, a framework for estimating the entries of a social accounting matrix (SAM), or any large matrix of expenditures, trade or income flows, is developed. Under this framework it is possible to evaluate the contribution of structural and supply-side information, as well as policy variables, within the generalized context of a non-stationary SAM. Inference and diagnostic properties are developed as well. This new estimator can be viewed as a generalized maximum likelihood estimator. Stationary and non-stationary estimates of the US SAM for the years 1987-1994 together with the effects of supply-side variables are analyzed.     

Structural Change in Poland, 1980–90: Evidence from Social Accounting Multipliers and Linkage Analysis

The 1980s and the beginning of the 1990s have witnessed a period of economic reforms in Poland. The paper uses aggregated social accounting multipliers to assess whether any structural change at a macro-economic level has taken place in this period. Linkage analysis is adopted to evaluate intersectoral reallocation of resources. The results support the view that some macro-economic adjustment has taken place but they do not provide evidence of significant intersectoral shifts.     

Interinstitutional linkage analysis: a social accounting matrix multiplier approach for the Mexican economy

By analogy to inter-industry analysis, this paper addresses the Inter-institutional linkage analysis through an accounting multiplier approach and a social accounting matrix framework that has a flow of funds. Such an analysis provides a useful tool to identify and quantify structural features of an economy in terms of productive and financial backward and forward linkage indices, which are estimated from the accounting multipliers. As an empirical application of this analysis, we identify and measure the accounting multipliers and the respective linkage indices for the Mexican economy. The results may help to improve the quality of policy decisions by detecting key linkage and partial linkage accounts (production sectors or institutions) and by providing a better understanding of how an impact of an initial exogenous injection runs within a complex economic structure.     

社会核算矩阵平衡方法研究——最小二乘交叉熵法

针对初始不平衡SAM与真实SAM关系未知的情形,本文提出了最小二乘交叉熵(LSCE)平衡法。基于最小二乘法(LS)、交叉熵法(CE)以及LSCE方法的仿真分析表明,CE与LS的相对稳健性取决于初始不平衡SAM的误差特征:当初始不平衡SAM的交易流量更接近于真实SAM时,LS较优;当初始不平衡SAM的系数矩阵更接近于真实SAM时,CE较优。LSCE方法同时考虑了SAM表流量和系数矩阵信息,故可得到精度介于LS和CE间的平衡SAM表,从而保证了平衡后SAM表的相对精度。     

The Value Relevance of Financial Accounting Information in a Transition Economy: The Case of the Czech Republic

ABSTRACT

The paper investigates the value relevance of accounting information in the Czech Republic in 1994–2001. Value relevance is understood as the ability of financial statement information to capture or summarise information that affects share values and empirically tested as a statistical association between market values and accounting values. The objective of the study is to investigate the validity of the value relevance methodology by finding an accounting setting where the results of value relevance tests might be predicted unambiguously. If the results of these tests confirm the predicted results, the validity of the value relevance methodology might be assumed. A transition economy represented by the Czech Republic provides such an institutional and accounting setting. It might be assumed that value relevance of accounting information is lower in a transitional economy than in a well-developed market economy. It can also be assumed that the value relevance increases over time as a result of the progress in transition. The results of the study confirm these predicted results and give thus supportive evidence of the validity of the value relevance methodology.     

Extending the SAM with Social and Environmental Indicators: An Application to Bolivia

Extending economic accounts with sets of social and environmental indicators is a first step towards a more integrated analysis of aspects of sustainability problems. In this article, therefore, a proposal is made to nest social and environmental indicators into an existing economic accounting framework. The Social Accounting Matrix (SAM) is taken as a basis, because of its flexibility regarding extensions with non-monetary data addressing social and environmental concerns. The main thrust of the paper is methodological. From the discussion of methodological issues and the application to the SAM for Bolivia for the year 1989, it is concluded that it is, in principle, feasible and relatively simple to extend the SAM with the two sets of indicators. However, additional data will have to be collected to be able to address, more adequately, the problems of sustainability.     

Spatial accounting methods and the construction of spatial social accounting matrices

The paper examines modifications to Regional Accounts used to construct regional and interregional Social Accounting Matrices (SAMs). It is argued that as the size of the basic areal unit used in studies declines, more traditional accounting approaches are no longer satisfactory. A three-dimensional spatial approach (termed two-by-two-by-two) to the identification of fundamental dimensions (commodity and factor market; geographical; and social accounts) has been developed in contrast to the more traditional non-spatial approach (termed two-by-two). This involves a novel approach using the geographical concepts of place of production for production activities, place of residence for institutions, marketplace for commodities and marketplace for factors. The use of these concepts permits accounting balances to be calculated at the spatial level. The theoretical basis of the spatial regional accounting model is presented and an example of the construction of a Danish Interregional SAM (SAM-K) is examined. Particular attention is given to data requirements, showing that these are much more modest than generally assumed.     

中国能源结构低碳化转型的政策分析

本文构建了中国能源-经济社会核算矩阵,使用SAM账户乘数分析方法探讨可再生能源电力产业在经济结构中的特征,部门扩张对其他经济部门的影响.同时利用SAM价格乘数研究不同的能源价格政策对经济系统的影响,结果表明政府采用对煤炭收取碳税的同时,对可再生能源电力产业进行补贴的价格政策是有效的.可再生能源电力产业的发展对经济结构的优化和能源结构低碳化转型有着积极作用,并能够降低成本推动型通货膨胀的发生风险.     

论我国会计科学研究方法的专门研究

会计学是一门具有自身专属研究对象与研究内容的科学,它是社会科学体系中管理科学的一个重要组成部分,其理论的发展与创新离不开科学的研究方法,故会计科学研究方法也应作为会计科学理论体系中的一个专门问题进行研究。本文以对我国会计科学研究方法研究现状的评析为基础,提出会计科学研究方法研究成果的运用应当以推动其学术规范建设作为重点。     

作业成本法在企业物流成本计算中的应用研究

首先对现代企业物流管理以及成本计算的概念以及特点进行简单介绍,然后详细阐述了作业成本的方法论,采用定性与定量的方式对企业物流成本计算中作业成本的具体应用进行研究。     

Multilateral Comparison of Cost Structures in the Input–Output Tables of Japan,the US and West Germany

This paper presents a multilateral comparison of relative levels and structures of costs of production in Japan, the US and West Germany. The analysis is carried out by using harmonized input–output tables, which are converted at US prices by using adjusted sectoral purchasing power parities. A new accounting methodology is derived from recent developments of index number theory, whereas the chosen multilateral comparison procedure gives results that are invariant with respect to the order of the pairs of countries examined.     

Strategic Groups,Frontier Benchmarking and Performance Differences: Evidence from the UK Retail Grocery Industry*

ABSTRACT In this paper we seek to advance the theory and practice of strategic group theory by means of powerful benchmarking tools that allow the composition of strategic groups on the basis of empirically derived production function frontiers. The relative performance of firms is assessed based on multiple inputs and outputs and as a result, firms are associated with different segments of the efficient frontiers. These segments constitute strategic facets and are used in the current paper as strategic group variables. The strategic facets are composed by outlier firms in the sense that they satisfy the Pareto dominance criterion when compared with other firms. Such advancement offers significant advantages compared to the ‘average’ firm that is used traditionally as a basis to define strategic groups. The proposed methodology for the formation of strategic groups has been applied on a panel of data from the grocery industry in the UK in the period 1987–93. The results of the study confirmed the existence of three stable strategic groups and one with a more volatile membership. Performance differences were also identifiled both between and within strategic groups using as criteria traditional accounting methods and also the relative efficiency indices obtained from the benchmarking methodology applied to the panel of data.     

REAL-FINANCIAL LINKAGES IN THE CANADIAN ECONOMY: AN INPUT–OUTPUT APPROACH

The recent financial crisis highlighted the importance of better understanding the interaction between macroeconomic and financial conditions. In this paper, we provide a financial social accounting matrix for the Canadian economy and use it to assess the strength of real-financial linkages by calculating and comparing multipliers with and without endogenous financial flows. It is found that taking into account financial flows increases the impact of a final demand shock on output by 4–11%. Moreover, between 2008 and 2009H1, the investment decisions of financial institutions together with the fact that non-financial institutions were unwilling or unable to increase their financial liabilities led to estimated declines in all GDP multipliers. The impact of a final demand shock on GDP declined 3–5%, while the impact of an increase in the availability of investment funds fell 30% and 55% for financial and non-financial corporations, respectively.? ^?The views expressed in this paper are those of the authors. No responsibility for them should be attributed to Statistics Canada. View all notes     

The impact of just-in-time manufacturing on firm performance in the US

Just-In-Time manufacturing has been subjected to numerous studies both empirical and methodological. This work attempts to measure the impact of JIT on accounting measures of performance. Most technologies and investments are justified on the basis of their impact on financial and accounting measures which are not easily quantified. Our empirical methodology, simultaneous equation estimation, allows us to isolate the partial effects of JIT on various accounting measures thus gauging the true impact of this method on firm performance. Our results show that after JIT adoption firms reduced the labor content in facilities, increased inventory turnover and enhanced earnings. There was no significant impact on prices charged by the firm. These results support the anecdotal evidence on JIT and the theoretical work done by various authors. Even though the firms studied experienced a downturn in their performance our empirical methodology could identify positive benefits resulting from JIT adoption.