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1993 SNA Update Information - AEG recommendations for issue:
Change of economic ownership (as term)

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Issue description in [English] | [French] | [Russian] | [Spanish]
The principle of ownership is central to the determination of the timing of recording of transactions in financial and non-financial assets (including transaction in goods). However, the 1993 SNA does not explicitly define ownership. Does the term “economic ownership” better reflect the underlying economic reality by reflecting risks and rewards of ownership? Should the SNA draw a distinction between legal, physical, and economic ownership?
AEG recommendations
Number of AEG recommendations for selected issue:1
  Corresponding meetingDate postedRecommendation
 December 200411/01/2005The AEG agreed to the proposed change in terminology by inserting the word “economic” but requested detailed clarification on the meaning of “economic ownership”. The implications for possible shared ownership of assets and the time at which change in ownership occurs (e.g., signing a contract) still need to be explored.
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