Glossary – G

Canadian System of National Accounts glossary index – G

Canadian System of National Accounts glossary – G
Term Definition
General government Institutional units that, in addition to fulfilling their political responsibilities and their role of economic regulation, produce services (and possibly goods) for individual or collective consumption mainly on a non-market basis and redistribute income and wealth.

See also: Government; Classification of Institutional Units by Sectors
Component of: General government sector

Composed of: Federal general government, Provincial and territorial general governments, Local general governments, Aboriginal general governments

Reference: Guide to the Public Sector of Canada, Catalogue no. 12-589

Source: System of National Accounts 2008, paragraphs 2.17 and 4.30

Notes: This reflects the System of National Accounts 2008 definition. Prior to the Canadian System of National Accounts 2012 historical revision, the term represented the current definition of Government.

French: Administrations publiques générales
General government sector Consists of all resident government units and all resident non-market, non-profit institutions that are controlled and mainly financed by resident government units. The economic activities of governments are shown in the general government sector. Government business enterprises (GBEs) are classified to either the non-financial corporations sector or the financial corporations sector.

See also: Institutional sectors
Generation of income account Shows how value-added is distributed to labour (compensation of employees), capital and government (taxes on production and imports less subsidies as far as they are included in the valuation of output). The distribution to capital appears in the balancing item in this account, operating surplus or mixed income.
 
Component of: Sequence of accounts

Source: System of National account 2008, paragraph 2.91

French: Compte d'exploitation
Global warming potential An index expressing the potential of a given greenhouse gas to contribute to global warming over a specified period (20, 100 or 500 years). The index is measured relative to the warming power of carbon dioxide, which is arbitrarily assigned a value of 1 (Houghton et al., 1996).

See also: Greenhouse effect
 
Goods Physical, produced objects for which a demand exists, over which ownership rights can be established and whose ownership can be transferred from one institutional unit to another by engaging in transactions on markets.
 
Reference: Canada's balance of payments and International Investment Position, Concepts, Methods, Sources and Products, Catalogue no. 67-506

Source: System of National Accounts 2008, paragraph 6.15

French: Biens
Goods, balance of payments basis On a Balance of Payments basis, transactions are defined in terms of ownership change between residents and non-residents. (i.e., balance of payments trade can sometimes occur completely within or outside of Canada).
 
Goods, customs basis Customs Basis measures the change in the stock of material resources of the country resulting from the physical movement of merchandise into or out of Canada. When goods are imported or exported from Canada, declarations must be filed with the Canadian Border Services Agency (CBSA or Customs) such information as description and value of goods, origin and port of clearance of commodities and mode of transport.
 
Goods sent abroad for processing A good may be held and processed by a unit that does not have title or ownership of the good. Although the goods may physically pass from one country to another, they are not treated as imports and exports because the economic ownership has not changed. When goods are sent abroad for processing, they are recorded as neither exports of goods by the country holding economic ownership, nor as imports of goods by the processing country. Similarly, after processing, they are recorded neither as exports of goods by the processing country nor as imports of goods by the country of economic ownership. The only item recorded as imports and exports is the fee agreed between the economic owner and the processor and these are recorded as imports and exports of services.

See also: Merchanting
 
Source: System of National Accounts 2008, paragraph 2.46

Notes: This concept has not yet been implemented in the Canadian System of National Accounts.

French: Biens exportés pour transformation
Goodwill and marketing assets See purchased goodwill and marketing assets.
 
Government Government units are unique kinds of legal entities established by political processes that have legislative, judicial or executive authority over other institutional units within a given area. Viewed as institutional units, the principal functions of government are to assume responsibility for the provision of goods and services to the community or to individual households and to finance their provision out of taxation or other incomes; to redistribute income and wealth by means of transfers; and to engage in non-market production.

See also: Institutional sectors, Classification of Institutional Units by Sectors
 
Component of: General government

Reference: Guide to the Public Sector of Canada, Catalogue no. 12-589

Source: System of National Accounts 2008, paragraph 4.9

Notes: This reflects the System of National Accounts 2008 definition. Prior to the Canadian System of National Accounts 2012 historical revision, the term represented the current definition of General government.

French: Administrations publiques
Government agency A permanent or semi-permanent organisation in the machinery of government that is responsible for the oversight and administration of specific functions, such as an intelligence agency. Although usage differs, a government agency is normally distinct both from a Department or Ministry, and other types of public body established by government. The functions of an agency are normally executive in character since different types of organisations (such as commissions) are normally used for advisory functions, but this distinction is often blurred in practice. A government agency may be established by either a national government or a provincial or territorial government within a federal system. Agencies can be established by legislation or by executive powers. The autonomy, independence and accountability of government agencies also vary widely. The term is not normally used for an organisation created by the powers of a local government body.

See also: Guide to the Public Sector of Canada, Catalogue no. 12-589
 
Government business enterprise profits before taxes Net earnings from the economic activity of government business enterprises, measures after deduction of capital consumption allowances
 
Government business enterprises Government controlled, public financial and non-financial corporations engaged in commercial operations involving the sale of goods or services to the public in the market place at economically significant prices.

See also: General government sector, Corporation, Institutional Sectors
 
Component of: Business sector, Public Sector

Composed of: Federal general government GBEs, Provincial and Territorial general government GBEs, Local general government GBEs and Aboriginal general government GBEs.

Reference: Guide to the Public Sector of Canada, Catalogue no. 12-589

Notes: The Canadian term Government business enterprises is similar but not identical to the term Public Corporations in the System of National Accounts 2008.

French: Entreprises publiques
Government claims Claims between governments, between related government business enterprises or between a parent government and its enterprises, in the form of shares, debt securities, loans and advances.
 
Government current expenditure on goods and services All current expenditure on goods and services by the government sector, including compensation of government employees and purchases of non-capital goods and services. Also includes the value of consumption of fixed capital of government fixed assets. In the sector account, net government current expenditure on goods and services is net of intergovernment sales.
 
Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: Guide to the Income and Expenditure Accounts, Catalogue no. 13-017, Chapter 8 - Government current expenditures on goods and services.

French: Dépenses courantes des administrations publiques en biens et services
Government Finance Statistics Manual The Government Finance Statistics Manual is an international guideline on statistical methodology for the compilation of government statistics. The most recent version of the government finance statistics manual was issued by the International Monetary Fund in 2001.

See also: Guide to the Public Sector of Canada, Catalogue no. 12-589
 
Source: Government Finance Statistics Manual 2001

Notes: As part of the Canadian System of National Accounts 2012 historical revision, the Government Finance Statistics Manual is used to compile government finance statistics beginning the first quarter of 1991.

French: Manuel de statistiques de finances publiques
Government gross debt All financial liabilities of governments. Dominated by short-term paper, bonds, loans and pension liabilities.
 
Government of Canada short-term paper Treasury bills are notes of original term to maturity of less than one year, issued at a discount and sold at auction every week; also includes Canada bills issued in foreign currency.
 
Government services Services entry in the current account that covers all services by governments or international and regional organizations for official representation, military activities and commercial activities not covered in other balance of payments accounts.
 
Grain in commercial channels Grain in the hands of the Canadian Wheat Board or Private grain dealers.
 
Greenhouse effect A natural phenomenon whereby certain trace atmospheric gases (referred to as greenhouse gases) absorb a portion of the heat radiating from the planet's surface, trapping and reflecting it back to the surface.

See also: Global warming potential
 
Greenhouse gases The group of chemical compounds that are responsible for the greenhouse effect. The most important greenhouse gases produced by economic activity are carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O) and chlorofluorocarbons (CFCs).

See also: Global warming potential
 
Gross The term gross refers to a value before any deductions have occurred. Once deductions have occurred the value is categorized as “net”.
 
Gross capital formation The total value of the gross fixed capital formation, changes in inventories and acquisitions less disposal of valuables for an institutional unit or sector.
 
Component of: Capital account

Composed of: Gross fixed capital formation, Changes in inventories, Acquisitions less disposals of valuables

Reference: Guide to the Income and Expenditure Accounts, Catalogue no. 13-017; Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraph 10.24

French: Formation brute de capital
Gross convention Gross convention is an accounting concept or standard, which requires that all assets and liabilities are shown gross, without netting any related asset or liability. It also requires revenue and expenditures to be shown excluding repayments, discounts, refunds, or rebates.

See also: Financial Management System, Catalogue no. 68F0023
 
Gross debt Often referred to as “total debt” or “total debt liabilities”, consists of all liabilities that are debt instruments. All liabilities are considered debt, except for liabilities in the form of equity, investment fund shares, financial derivatives and employee stock options.

See also: Financial Management System, Catalogue no. 68F0023
 
Reference: About the government finance statistical program

Source: International Monetary Fund's Public Sector Debt Statistics: Guide for Compilers and Users - 2011, paragraph 2.3.

French: Dette brute
Gross domestic product The total unduplicated value of the goods and services produced in the economic territory of a country or region during a given period. A valuation expressed in terms of the prices actually paid by the purchaser after all applicable taxes and subsidies.

See also: Production, Institutional Sectors, Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547
 
Gross domestic product at basic prices Gross domestic product at market prices minus taxes less subsidies on products. Gross domestic product at basic prices is also equal to the traditional value at factor cost plus taxes less subsidies on the factors of production (labour and capital).
 
Gross domestic product at factor cost The sum of wages and salaries, supplementary labour income, mixed income, and other operating surplus.
 
Gross domestic product at market prices Gross domestic product at basic prices plus taxes less subsidies on products.
 
Gross domestic product by industry Also referred to as value-added, equals output by the industry minus the value of intermediate inputs that were purchased from other industries, domestic or foreign. Gross domestic product by industry for the economy as a whole is the sum of values added by all industries resident in Canada.
 
Gross domestic product by industry at basic prices When evaluated at modified basic prices, an industry's gross domestic product is the sum of its factor incomes (wages and salaries, supplementary labour income, mixed income, and other operating surplus) plus taxes on production less subsidies on production.
 
Gross domestic product by industry at market prices An industry's gross domestic product at market prices equals its gross domestic product at basic prices plus taxes on products less subsidies on products.
 
Gross domestic product, expenditure-based The sum of expenditure on final consumption plus gross capital formation plus exports less imports.
 
Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraph 16.47b

French: Produit intérieur brut selon les dépenses
Gross domestic product, income-based Compensation of employees plus gross operating surplus plus gross mixed incomes plus taxes on production, taxes on imports less subsidies on production and subsidies on imports.
 
Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraph 16.47c

French: Produit intérieur brut selon les revenus
Gross domestic product, output-based The value of output less intermediate consumption plus any taxes less subsidies on products not already included in the value of output.
 
Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraph 16.47a

French: Produit intérieur brut selon la production
Gross domestic product per hour worked See labour productivity.
 
Gross fixed capital formation In a particular category of fixed asset, consists of the value of producers' acquisitions of new and existing products of this type less the value of their disposals of fixed assets of the same type. The costs of ownership transfer are treated as gross fixed capital formation. They are attributed to the purchaser or seller of the asset according to which unit bears the responsibility of meeting the costs.

See also: Capital account
 
Component of: Gross capital formation

Composed of: Net acquisition, Cost of ownership transfer of fixed assets

Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraph 10.64

French: Formation brute de capital fixe
Gross government debt See gross debt.
 
Gross mixed income For unincorporated enterprises, it may not be possible to estimate compensation of employees, consumption of fixed capital and a return to capital separately, in which case an estimate of mixed income, covering all these items, should be made. In practice, all unincorporated enterprises owned by households that are not quasi-corporations are deemed to have mixed income as their balancing item, except owner-occupiers in their capacity as producers of housing services for own final consumption, households leasing dwellings and households employing paid domestic staff. For owner-occupiers and those leasing dwellings, all value-added is operating surplus. For domestic staff all value-added is compensation of employees (unless any taxes or subsidies on production are payable or receivable on the output).
 
Source: System of National Accounts 2008, paragraphs 6.126 and 7.9

French: Revenu mixte brut
Gross national income Gross domestic product less primary incomes payable to non-resident units plus primary incomes receivable from non-resident units.


See also: Institutional Sectors
 
Component of: Primary income

Source: System of National Accounts 2008, paragraph 2.143

French: Revenu national brut
Gross operating surplus The income of corporations, governments, households and non-profit institutions serving households accruing to the capital factor of production from the production of goods and services.

See also: About the satellite account of non-profit institutions and volunteering
 
Reference: Satellite Account of Non-profit Institutions and Volunteering, 2007, Catalogue no. 13-015

Source: System of National Accounts 2008, paragraph 20.28

French: Excédent brut d'exploitation
Gross output See output.
 
Gross saving Net savings plus consumption of fixed capital.
 
Source: Guide to the Income and Expenditure Accounts, Catalogue no. 13-017

French: Épargne brute
Gross value-added The value of output less the value of intermediate consumption. It is a measure of the contribution to gross domestic product made by an individual producer, industry or sector. The net may also be measured by deducting consumption of fixed capital.

See also: Production, Institutional sectors
 
Component of: Output

Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraph 1.17

French: Valeur ajoutée brute
Gross value-added at basic prices Is defined as output valued at basic prices less intermediate consumption valued at purchasers' prices. Although the outputs and inputs are valued using different sets of prices, the value-added is described by the prices used to value the outputs. From the point of view of the producer, purchasers' prices for inputs and basic prices for outputs represent the prices actually paid and received. Their use leads to a measure of gross value-added that is particularly relevant for the producer.

See also: Production, Institutional sectors
 
Component of: Output

Composed of: Primary income

Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraphs 6.77

French: Valeur ajoutée brute aux prix de base
Gross value-added at producer prices Output valued at producers' prices less intermediate consumption valued at purchasers' prices. In the absence of value-added tax, the total value of the intermediate inputs consumed is the same whether they are valued at producers' or at purchasers' prices, in which case this measure of gross value-added is the same as one that uses producers' prices to value both inputs and outputs. Equivalent to the traditional measure of gross value-added at market prices, however, in the presence of value-added tax, the producer's price excludes invoiced value-added tax, and it would be inappropriate to describe this measure as being at “market” prices.

See also: Production
 
Component of: Output

Composed of: Primary income

Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraphs 6.78

French: Valeur ajoutée brute aux prix du producteur
Ground-level ozone Ozone (O3) that occurs near the surface of the earth.
 
Groundwater Groundwater is located beneath the soil surface. It includes soil moisture and water stored in aquifers, and supplies springs and wells.
 
Source: Human activity and the environment, 2010, Catalogue no. 16-201

French: Eaux souterraines
Group registered retirement saving plan An employer-sponsored retirement savings plan, similar to an individual registered retirement savings plan, but administered on a group basis by the employer.
 
Guaranteed debt The borrowings issued by an entity and guaranteed by another entity.
 
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