1993 SNA Update Information - AEG recommendations for issue:
Change of economic ownership (as term) |
| Subissue description | | 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? |
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| AEG recommendations | | Number of AEG recommendations for selected issue: | 1 | | Corresponding meeting | Date posted | Recommendation |  | | December 2004 | 1/11/2005 | The 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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