Glossary – P

Canadian System of National Accounts glossary index – P

Canadian System of National Accounts glossary – P
Term Definition
Paasche index Index calculated by using prices or volumes from the current period as weights.

See also: Price index, Price deflation
 
Paasche price index The harmonic average of price relatives using the values of the later period as weights.

See also: Price index, Price deflation
 
Paasche volume index The harmonic average of volume relatives using the values of the later period as weights.

See also: Price index, Guide to the Income and Expenditure Accounts, Catalogue no. 13-017
 
Participating preferred shares A type of preferred share where the investor has some entitlement to a share in the profits, or a share of any surplus on dissolution of the issuer. Participating preferred shares are treated as equities in Canada's Balance of Payments Accounts.
 
Part-time employee An employee whose assigned hours of work are less than the scheduled hours of work in the standard work week of the establishment.
 
Part-time job A job in which a person usually works less than 30 hours per week.

See also: Job
 
Pay-as-you-go plan An unfunded pension plan where no assets are set aside and the benefits are paid for by the employer or other pension sponsor as and when they are paid. In most countries, pension arrangements provided by the state are unfunded, with benefits paid directly from current workers' contributions and taxes.
 
Payroll taxes Taxes payable by enterprises assessed either as a proportion of the wages and salaries paid or as a fixed amount per person employed.
 
Pension fund A fund established for the purpose of providing benefits on retirement for specific groups of workers, dependents, and other beneficiaries. A pension fund can be a separate institutional unit (an autonomous pension fund) or the assets, liabilities, transactions, and other events of the pension fund may be included among the corresponding items of the employer operating the scheme (a non-autonomous pension fund).
 
Reference: Guide to the public sector of Canada, Catalogue no. 12-589

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

French: Fonds de pension
Pension plan A contract between an employer, group of employers or a union, with employees to provide a lifetime income to retired employees for the service they have provided.
 
Source: Guide to the Pension Satellite Account, Catalogue no. 13-599

French: Régime de retraite
Pension unit A unit dedicated to the operation of a pension fund or a social security scheme.
 
Source: Guide to the Pension Satellite Account, Catalogue no. 13-599

French: Unité de pension
Personal disposable income Personal income minus the sum of direct taxes (persons), contributions to social insurance plans and other current transfers from households to government.
 
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: Revenu personnel disponible
Personal expenditure on consumer goods and services See household expenditures on goods and services.

See also: Guide to the Income and Expenditure Accounts, Catalogue no. 13-017
 
Personal income See income.
 
Personal saving See savings.
 
Personal sector All persons, households and associations of individuals serving households.

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: Secteur des particuliers
Persons See households.
 
French: Particuliers
Persons and unincorporated businesses sector See household 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: Secteur des particuliers et entreprises individuelles
Person-trip For non-residents, a person-trip begins each time the traveller enters Canada. The person-trip concludes when the traveller leaves Canada. For residents, when then person departs from Canada, a person-trip begins and ends on their return to Canada.
 
Pollution prevention The use of processes, practices, materials, products or energy that avoid or minimize the creation of pollutants and waste, and reduce overall risk to human health or the environment. Pollution prevention is the elimination or minimization of pollutants and waste before they are created.
 
Population All persons who are usually resident in the geographic territory.
 
Source: System of National Accounts 2008, paragraph 19.10

French: Population
Portfolio investment Cross-border transactions and positions involving debt or equity securities, other than those included in direct investment or reserve assets. Unlike direct investors, portfolio investors have no significant influence on the operation or management of the enterprises in which they invest.

See also: Securities, International Accounts; About the balance of payments
 
Component of: Canadian financial assets

Reference: Canada's balance of payments, data quality, concepts and definitions, Catalogue no. 67-001; Canada's international investment position, Catalogue no. 67-202

Source: System of National Accounts 2008, paragraph 26.91

French: Investissements de portefeuille
Premium Amount of money associated with the difference between the issue price and the maturity value of a security when the issue price is greater than the maturity value. This difference is treated as negative interest and is recorded, on an accrual basis, as investment income in the balance of payments.
 
Pre-trip expenditure See tourism single-purpose consumer durables.
 
Price The value of one unit of a good or service.
 
Price deflation A method for expressing the value of goods and services in the prices of a fixed period in the past. This method removes price changes from the current value of a good or service by dividing it by a suitable price index.
 
Price index An average of the proportionate changes in the prices of a specified set of goods and services between two periods of time.
 
Component of: Price deflation

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

French: Indice de prix
Price relative The ratio of the price of a specific product in one period to the price of the same product in some other period.
 
Primary beneficiary An entity that is the ultimate receiver of the economic risks and rewards associated with a variable interest entity. Also, an entity that consolidates a variable interest entity is called the primary beneficiary.
 
Primary energy source An energy source that is either consumed directly in the form in which it is produced or converted into secondary energy sources and then consumed. Primary energy sources used in Canada are coal, crude oil, natural gas and its associated liquids (ethane, butane, propane and pentanes plus), hydro and other renewable electricity, and nuclear electricity.
 
Primary income Incomes that accrue to institutional units as a consequence of their involvement in processes of production or ownership of assets that may be needed for purposes of production. A major item of primary income is compensation of employees that represents the income accruing to individuals in return for their labour input into production processes. Property income is that part of primary income that accrues by lending or renting financial or natural resources, including land, to other units for use in production. Receipts from taxes on production and imports (less subsidies on production and imports) are treated as primary incomes of governments even though not all of them may be recorded as payable out of the value-added of enterprises. Primary incomes do not include the payments of social contributions to social insurance schemes and the receipt of benefits from them, current taxes on income, wealth, etc. and other current transfers.
 
Component of: Gross domestic product, Output

Composed of: Compensation of employees, Property income

Source: System of National Accounts 2008, paragraph 7.2

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

French: Revenu primaire
Primary inputs Labour input combined with capital input, using labour's and capital's share of costs as weights to form a Fisher chain index.

See also: Primary income
 
Principal activity The activity whose value added exceeds that of any other activity carried out within the same unit. (The producer unit may be an enterprise or an establishment). The classification of the principal activity is determined by reference to International Standard Industrial Classification of All Economic Activities. The principal activity of an enterprise consists of the principal product and any by-products, that is, products necessarily produced together with principal products. The output of the principal activity consists of goods or services that are capable of being delivered to other units even though they may be used for own consumption or own capital formation.
 
Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraph 5.8

French: Activité principale
Principal Commodity Groups A structure of approximately 1500 commodity classes, providing consistent descriptions of commodities across various aspects of the economy such as production, transportation, exports, imports or prices.
 
Source: Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Notes: The Principal Commodity Group was last used for reference year 2004.

French: Groupes principaux de produits
Private corporation A corporation which is not a government business enterprise.
 
Private non-financial corporations credit market debt Debt restricted to include only bank loans, other loans, other short-term paper, mortgages and bonds.
 
Private non-financial corporations equity (book value) The value of the interest of an owner or partial owner in a corporation. It covers common, preferred shares, contributed surplus and accumulated retained earnings when measured at book value. At market value, marketable equity is valued using market prices.
 
Private sector All resident institutional units not controlled by government.

See also: Institutional sectors
 
Reference: About the government finance statistical program

Source: Financial Management System, Catalogue no. 68F0023

Notes: A special aggregate, not one of the six main sectors of the Canadian economy.

French: Secteur privé
Privatization The disposal to private owners by a government unit of the controlling equity of public assets.
 
Produced assets Non-financial assets that have come into existence as outputs from production processes that fall within the production boundary of the Canadian System of National Accounts.

See also: Balance sheet, Residential structures, Machinery and equipment, Intellectual property products, Inventories
 
Component of: Non-financial asset

Composed of: Fixed assets, Inventories, Valuables

Source: System of National Accounts 2008, paragraphs 10.9, 10.10

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

French: Actifs produits
Produced capital Assets such as buildings, machinery, equipment and roads that have been produced by economic activity.

See also: Gross fixed capital formation, Balance sheet
 
Component of: Non-financial asset

Composed of: Fixed assets, Inventories, Valuables

Reference: About the environmental and resource accounts

Source: Concepts, Sources and Methods of the Canadian System of Environmental and Resource Accounts, Catalogue no 16-505

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

French: Capital produit
Producers' prices The amount receivable by the producer from the purchaser for a unit of a good or service produced as output minus any value-added tax, or similar deductible tax, invoiced to the purchaser. It excludes any transport charges invoiced separately by the producer. Producer's price excludes any amounts receivable in respect of value-added taxes, or similar deductible tax, invoiced on the output sold. The producer's price includes taxes on products (taxes payable per unit of output) and excludes subsidies on products (subsidies receivable per unit of output). The producer's price is the price, excluding value-added tax, that the producer invoices to the purchaser. The System of National Accounts utilizes two kinds of prices to measure output, namely, basic prices and producers' prices.

See also: Market price
 
Source: System of National Accounts 2008, paragraphs 6.51, 6.52

French: Prix du producteur
Production An activity, carried out under the responsibility, control and management of an institutional unit, that uses inputs of labour, capital, and goods and services to produce outputs of goods and services.

See also: Output
 
Source: System of National Accounts 2008, paragraph 6.2

French: Production
Production account Records the activity of producing goods and services as defined within the System of National Accounts. Its balancing item, gross value-added, is defined as the value of output less the value of intermediate consumption and is a measure of the contribution to gross domestic product made by an individual institutional unit, industry or sector. Gross value-added is the source from which the primary incomes of the System of National Accounts are generated and is therefore carried forward into the primary distribution of income account. The Canadian System of National Accounts' production account appears in the input-output tables.
 
Component of: Sequence of accounts

Source: System of National Accounts 2008, paragraph 1.17

French: Compte de production
Production boundary The production boundary of the System of National Accounts includes the following activities: a) the production of all goods or services that are supplied to units other than their producers, or intended to be so supplied, including the production of goods or services used up in the process of producing such goods or services; b) the own-account production of all goods that are retained by their producers for their own final consumption or gross capital formation; c) the own-account production of knowledge-capturing products that are retained by their producers for their own final consumption or gross capital formation but excluding (by convention) such products produced by households for their own use; d) the own-account production of housing services by owner occupiers; and e) the production of domestic and personal services by employing paid domestic staff.

See also: Production, Output
 
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 6.27

French: Domaine de la production
Production factors Transactors which, when combined, result in economic production. In general, there are two production factors: labour and capital.

See also: Primary inputs
 
Productivity Measures how efficiently inputs are used in production. Productivity measures can apply to a single input, such as output per hour worked (labour productivity) or to the combined inputs of labour and capital (multifactor productivity).
 
Productivity index The ratio of the output index to the combined inputs index; the output and the combined inputs are evaluated at constant prices. Expressing productivity levels using indices facilitates comparison and analysis with respect to a base year.
 
Products Goods and services (including knowledge capturing products) that result from a process of production.
 
Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraph 6.14

French: Produits
Profit Current earnings of enterprises measured net of income or corporation taxes payable without penalty during the recording period. Corporate profits in the Canadian System of National Accounts reflect the earnings accruing to corporations from their current production activity. As such, items unrelated to a corporation's current production are excluded from corporate profits. These include dividend receipts, capital gains and losses, provisions for loan losses and charitable donations. Profits are treated as investment income on the equity portion of direct investment in the balance of payments. Remitted profits of government business enterprises that are fiscal monopolies (lottery and gaming corporations) are treated as taxes.
 
Progress payment In some industries, the process of production takes a long time, crossing over several reference periods. For example, the manufacture of heavy machinery, ships, locomotives, steel structures and aircraft requires an extensive period for completion. In such cases the contract of sale is often settled in advance and the transfer of ownership occurs in stages as work proceeds. The reimbursements that manufacturers receive for work done on incomplete contracts are called progress payments. The value of such payments is measurable by the difference between inventories held and inventories owned.
 
Property income Property income accrues when the owners of financial assets and natural resources put them at the disposal of other institutional units. The income payable for the use of financial assets is called investment income while that payable for the use of a natural resource or land is called rent. Property income is the sum of investment income and rent.
 
Component of: Primary income

Composed of: Investment income, Rent

Source: System of National Accounts 2008, paragraph 7.107

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

French: Revenu de la propriété
Provincial and territorial general government The group of units consisting of all government units belonging to a provincial or territorial government and all non-market, non-profit institutions controlled and mainly financed by a provincial or territorial government.

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

Reference: About the government finance statistical program

Source: Financial Management System, Catalogue no. 68F0023

Notes: This reflects the System of National Accounts 2008 definition. Prior to the CSNA 2012 historical revision, the term represented the current definition of Provincial and territorial government

French: Administration publique générale provinciale et territoriale
Provincial and territorial government The government whose legislative, judicial, and executive authority extends over the entire territory of a jurisdiction, which is the largest geographical area into which the country as a whole may be divided for political or administrative purposes. The authority of a provincial or territorial government does not extend over other provinces or territories. A provincial or territorial government usually has the fiscal authority to levy taxes on citizens and institutional units that are resident in, or engage in, economic activities in its area of competence.

See also: Institutional sectors; Classification of Institutional Units by Sectors
 
Component of: Provincial and territorial general government

Reference: About the government finance statistical program

Source: Financial Management System, Catalogue no. 68F0023

Notes: This reflects the System of National Accounts 2008 definition. Prior to the CSNA 2012 historical revision, the term represented the current definition of Provincial and territorial general government

French: Administration publique provinciale et territoriale
Provincial bonds Direct bonds of provincial and territorial governments (one of which, provincial savings bonds) and guaranteed provincial government business enterprise bonds.
 
Public accounts Financial statements produced by the federal, provincial and territorial governments, which are audited by each government's respective Auditor General.
 
Public corporation See government business enterprises.
 
Public financial corporation Government business enterprises principally engaged in financial intermediation or related auxiliary financial activities.
 
Reference: Guide to the public sector of Canada, Catalogue no. 12-589

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

French: Société financière publique
Public non-financial corporation Government business enterprises principally engaged in non-financial intermediation or related auxiliary non-financial activities.
 
Reference: Guide to the public sector of Canada, Catalogue no. 12-589

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

French: Société non financière publique
Public sector A sector consisting of all the institutional units of the general government sector and all government business enterprises.
 
Component of: Total economy

Composed of: General government, Government business enterprises

Reference: Guide to the public sector of Canada, Catalogue no. 12-589

Source: System of National Accounts 2008, paragraph 22.6

Notes: A special aggregate, not one of the six main sectors of the Canadian economy.

French: Secteur public
Public sector corporation See government business enterprises.
 
Public-private partnership Public-private partnerships are long-term contracts between two units, one of which is normally a private, for profit enterprise and the other normally is a government unit.
 
Purchased goodwill and marketing assets The whole or part of the net worth of an institutional unit. They are recorded only when a unit is purchased in its entirety or an identifiable marketing asset is sold to another unit.
 
Component of: Non-produced assets

Source: System of National Accounts 2008, paragraph 10.17

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

French: Fonds commerciaux et actifs marketing achetés
Purchasers' prices The amount paid by the purchaser, excluding any value-added tax, or similar tax, deductible by the purchaser, in order to take delivery of a unit of a good or service at the time and place required by the purchaser. The purchaser's price of a good includes any transport charges paid separately by the purchaser to take delivery at the required time and place.

See also: Basic price; Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547
 
Source: System of National Accounts 2008, paragraph 6.64

Notes: Purchasers' prices is equal to producers' prices plus value-added tax not deductible by the purchaser plus separately invoiced transport charges plus wholesalers' and retailers' margins. Purchasers' prices is also equal to basic prices plus taxes on products excluding invoiced value-added tax less subsidies on products.

French: Prix d'acquisition
Purchasing power parity Currency conversion rates that both convert to a common currency and equalise the purchasing power of different currencies. In other words, they eliminate the differences in price levels between countries in the process of conversion.

See also: About purchasing power parities
 
Reference: Eurostat-Organisation for Economic Cooperation and Development (OECD) Methodological Manual on Purchasing Power Parities

Source: Organisation for Economic Cooperation and Development (OECD)

French: Parité de pouvoir d'achat
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