Glossary – O

Canadian System of National Accounts glossary index – O

Canadian System of National Accounts glossary – O
Term Definition
Occupation A collection of jobs, sufficiently similar in work performed (tasks, duties and responsibilities) to be grouped under a common title for classification purposes.
 
Reference: Human resource module of the tourism satellite account, 2009, Catalogue no. 13-604, no. 66

Source: Guide to the Pension Satellite Account, Catalogue no. 13-599

French: Profession
Official contributions Technical and economic assistance and food aid provided abroad; data also include assistance by governmental organizations, such as the Canadian International Development Agency, and through non-governmental organizations. Administrative overheads for official assistance are included along with disbursements by the federal government and its enterprises to international agencies and programs, both civilian and military.
 
Component of: Government transfers

Source: Canada's Balance of International Payments, Catalogue no. 67-001

French: Contributions officielles
Official International Reserves The sum of a) official holdings of gold and foreign exchange (U.S. dollars and deposits in other convertible currencies); b) loans to or from the International Monetary Fund on general account; and c) special drawing rights. It also includes Canada's Reserve Position in the International Monetary Fund.
 
Reference: Canada's Balance of International Payments, Catalogue no. 67-001

Source: Guide to the Income and Expenditure Accounts, Catalogue no. 13-017

French: Réserves officielles
Operating expenditures (by business) Business expenditures on labour (wages and salaries), purchase of fuel and electricity, materials and supplies, excluding capital goods and services.
 
Operating expenses Wages, salaries and employers' social contributions, intermediate purchases, consumption of fixed capital and net taxes on factors of production.
 
Operating surplus A measure of the surplus accruing from processes of production before deducting any explicit or implicit interest charges, rent or other property incomes payable on the financial assets, land or other natural resources required to carry on the production. For business industries, it represents the return to capital of incorporated business. It consists of gross profits (including bad debts and charitable contributions) of corporations and government business enterprises before income taxes, including capital consumption allowances (corporate and unincorporated sectors), miscellaneous investment income, dividend paid net of dividend received, interest paid net of interest received, and inventory valuation adjustment. Holding gains and losses, such as realized capital gains on asset sales, are excluded from operating surplus.

See also: Institutional Sectors; Guide to the Income and Expenditure Accounts, Catalogue no. 13-017; Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547.
 
Component of: Gross domestic product, Gross output

Source: System of National Accounts 2008, paragraph 7.12

Notes: Synonym of mixed income

French: Excédent d'exploitation
Option value Option value is the value associated with assuring the future availability of resources for one's own possible future use (the value placed on maintaining natural resources as future sources of genetic material for example).
 
Other assets Class in the other investment functional category in the Balance of Payments and the International investment position. Includes claims that are not loans or deposits.
 
Other bonds Bonds issued by Canadian corporations, hospitals and non-profit institutions, as well as non-guaranteed bonds of government business enterprises. Also includes asset-backed securities.
 
Other buildings and structures Non-residential buildings, other structures and land improvements.
 
Source: System of National Accounts 2008, paragraph 10.73

French: Autres bâtiments et ouvrages de génie civil
Other changes in assets account Records changes in the values of assets and liabilities, and thus of the changes in net worth, between opening and closing balance sheets that result from flows that are not transactions, referred to as other flows. An example is the loss of real estate value as the result of fire, or the loss of biological resources as the result of floods.
 
Component of: Sequence of accounts

Source: System of National Accounts 2008, paragraph 12.1

French: Compte des autres changements d'actifs
Other current transfers All current transfers between resident institutional units, or between resident and non-resident units, other than current taxes on income, wealth, etc., social contributions and benefits, and social benefits in kind.
 
Component of: Current transfers

Source: System of National Accounts 2008, paragraph 8.19

French: Autres transferts courants
Other current transfers from households to government Transfers not classified as current taxes on income, wealth, etc. Includes hospital and medical care insurance premiums, various licences and permits, (hunting and fishing licenses, marriage licenses, etc.) fines and penalties, the personal portion of motor vehicle licenses and permits, as well as donations to entities within the government sector.

See also: Institutional sectors
 
Source: Guide to the Income and Expenditure Accounts, Catalogue no. 13-017

Notes: Discontinued with the Canadian System of National Accounts 2012 historical revision.

French: Autres transferts courants des particuliers aux administrations publiques
Other deposits All deposits at other Canadian deposit-taking institutions, including shares in credit unions.
 
Component of: Financial assets

French: Autres dépôts
Other investment Functional classification in the financial account of the Balance of Payments and in the international investment position that covers loans, currency and deposits, allocation of special drawing rights (liabilities only) and other assets or other liabilities.

See also: About the balance of payments
 
Other levels of government The sum of provincial, territorial, local and Aboriginal general governments.
 
Other liabilities Class in the other investment functional category in the balance of payments and the international investment position. Includes claims that are not loans or deposits.
 
Other operating surplus Operating surplus less consumption of fixed capital.
 
Other payables Various items not included under other financial instruments, such as accrued interest, interest payable and prepaid expenses.
 
Other receivables Various items not included under other financial instruments, such as accrued interest, interest receivable and prepaid expenses.
 
Other short-term paper Notes of original term to maturity of one year or less, issued at a discount by a variety of financial and non-financial institutions; includes provincial and municipal Treasury bills as well as asset-backed securities.
 
Component of: Financial assets

Source: Financial Management System, Catalogue no. 68F0023

French: Autres effets à court terme
Other taxes on production All taxes except taxes on products that enterprises incur as a result of engaging in production. They do not include any taxes on the profits or other income received by the enterprise and are payable regardless of the profitability of the production. They may be payable on the land, fixed assets or labour employed in the production process or on certain activities or transactions.
 
Source: System of National Accounts 2008, paragraph 7.97; Organisation for Economic Cooperation and Development, Government Finance Statistics 2001.

French: Autres impôts sur la production
Output The goods and services produced by an establishment, a) excluding the value of any goods and services used in an activity for which the establishment does not assume the risk of using the products in production; and b) excluding the value of goods and services consumed by the same establishment except for goods and services used for capital formation or own final consumption. In general, all goods and services that are produced and used by the same establishment are excluded from the measure of output. Exceptions occur, for example, output is recorded if the goods and services being produced are used for capital formation of the establishment. Similarly output is recorded for products entering inventories even if eventually they are withdrawn from inventories for use as intermediate consumption in the same establishment in a later period.

See also: Production
 
Composed of: Market output, Non-market output

Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547; About the productivity accounts

Source: System of National Accounts 2008, paragraph 6.89, 6.87

French: Produit
Output for own final use Products retained by the producer for his own use as final consumption or capital formation. The value of output for own final use is determined as the sum of the following: a) the value of goods produced by an unincorporated enterprise and consumed by the same household; b) the value of services provided to households by paid domestic staff; c) the value of the imputed services of owner-occupied dwellings; d) the value of the fixed assets produced by an establishment that are retained within the same enterprise for use in future production (own-account gross fixed capital formation); e) the value of changes in inventories of finished goods and work-in-progress intended for one or other of the above uses; f) in exceptional cases, there may be output for own intermediate use.
 
Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraph 6.114

French: Production pour usage final propre
Output price Current dollar output, divided by real output.
 
Outside Canada A geographic region used to capture the activities of Canadian territorial enclaves abroad.
 
Source: Guide to the Income and Expenditure Accounts, Catalogue no. 13-017

Notes: Discontinued with the Canadian System of National Accounts 2012 historical revision. Synonym of territorial enclaves abroad.

French: Extérieur du Canada
Outstanding issue Securities traded on secondary markets after having been issued.
 
Owner-occupied dwellings Resident households who own the dwelling where they reside and who are considered for purpose of the National Accounts to receive an income in kind equivalent to the market rental value of their dwelling.
 
Owner's equity The value of the interest of an owner or partial owner in an asset.
 
Ownership There are two types of ownership: legal and economic. The legal owner of entities such as goods and services, natural resources, financial assets, and liabilities is the institutional unit entitled in law and sustainable under the law to claim the benefits associated with the entities. The economic owner of entities such as goods and services, natural resources, financial assets and liabilities is the institutional unit entitled to claim the benefits associated with the use of the entity in question in the course of an economic activity by virtue of accepting the associated risks.
 
Source: System of National Accounts 2008, paragraph 3.21 and 3.26

French: Propriété
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