Generation of Income Account
The generation of income account by institutional sector measures the income generated in the production of goods and services.
The opening entry in the generation of income account is gross value added. The generation of income account then records how much value added is a return to labour for its contribution in the production of goods and services, how much is apportioned to governments and how much is a return to capital. The main entries in the generation of income account include:
- compensation of employees: return to labour
- gross operating surplus: return to capital for incorporated business
- taxes less subsidies: appropriation of government
- gross mixed income: return to unincorporated businesses, incorporating both a payment to labour and capital.
Currently, the Canadian System of National Economic Accounts does not include a generation of income account by institutional sector.
- Date modified: