The Accounting Review Vol. 28 No. 2 1953
ACCOUNTING ENTRIES AND NATIONAL ACCOUNTS.
Abstract
The purpose of national income compilations has been discussed many times, but as yet there has been no definitive survey of the actual uses to which the data are currently being put. It may be that the time has come for those who calculate national income and gross national product to extend their objectives further. The need has developed for an objective, factual report of the position and the progress of national economy. The present form of reporting national income does not adequately meet either of these requirements. The present "account" form of reporting national income, although frequently employed in the construction of business balance sheets, is virtually never used by business or other groups for income statements, and so is completely alien to the experience of the public. The system used for the development of basic data, with its theoretical framework of "factors of production" and "final products," its subordination to economic sectors, and the absence of what may be called "journal entries," is also completely alien to the experience of the public.
- DOI
- 10.2308/tar-7088556
- Volume
- 28
- Issue
- 2
- Pages
- 191-199
- Language
- en
- Sources
- openalex crossref