《国际收支核算（Balance of payments accounting）.doc》由会员分享，可在线阅读，更多相关《国际收支核算（Balance of payments accounting）.doc（16页珍藏版）》请在三一文库上搜索。
1、国际收支核算（Balance of payments accounting）The fifth section of international balance of payments accountingThe balance of payments refers to the total revenue and expenditure arising from the economic exchanges between the resident units and the non resident units. Chinas balance of payments accounting
2、is an integral part of the national economic accounting system. The foreign economic transactions as the object, through the balance of payments, for a certain period of time China with other countries or regions of goods, services, income and capital transactions, free transfer between the accounti
3、ng system, comprehensively reflect the changes in the international balance of payments situation, Chinese structure and the fluctuation of reserve assets, provide the basis for the formulation of economic policy, analysis of the basic economic factors affecting the balance of international payments
4、 and to take control. It provides basic data for other parts of the accounting table and links it with the accounting of assets and liabilities. It can not be replaced by other four accounting offices in reflecting the process and result of foreign trade.Balance of payments tableThe balance of payme
5、nts statement includes the balance of payments and the international investment position statement. The balance of payments reflects the transactions between resident units (residents) and nonresident units (non residents) in a given period. The international investment position reflects a certain p
6、oint in time the resident units of foreign financial assets and liabilities of the stock status, and caused by trading, price changes, exchange rate changes and other adjustments in a certain period of time the stock changes.(I) balance of payments1. basic structureThe balance of payments table is f
7、ormed on the basis of the latest international monetary fund standards and adjusted according to the actual situation in china. The balance of payments includes four parts, namely, current account, capital and financial account, reserve assets, net error and omission.(1) current accountIt includes g
8、oods, services, benefits and frequent transfers.A. cargoRefers to the import and export goods through our country customs and some entrepot trade without our customs, as well as merchandise returns. Export is credited to the credit, import is credited to the borrower.B. serviceIncluding transport, t
9、ourism, communications, construction, insurance, finance, computer and information services, royalties and license fees, consulting, advertising, publicity, film, video and other business services and government services. The credit represents the income of our country to provide the services provid
10、ed above, and the debit means that China accepts the services provided by the overseas.C. earningsIt consists of two parts, that is, the remuneration of employees (that is, the remuneration of workers) and the return on investment. The credit represents the gains of our country, and the debit repres
11、ents the proceeds of our foreign payments.Employee remuneration refers to the income earned and remitted by individuals who work abroad (less than one year) and the salaries and benefits of foreign employees who work in China (less than one year).The investment income includes the profit under the d
12、irect investment, the interest income and expenditure and the reinvestment income, the securities investment income (dividend, interest, etc.) and other investment income (interest).D. is often transferredIncluding donations and remittances, compensation and other projects, both goods and capital fo
13、rm form. The current transfers are divided into regular transfers between governments and transfers among other sectors. The lender represents the free transfer from foreign countries, and the debit reflects the free transfer provided by our country to foreign countries.Government refers to the gove
14、rnment and international organizations that accept or provide donations.Other departments refer to other departments or individuals outside government departments and international organizations.(2) capital and financial accountsIncluding capital account and financial account. Debits represent an in
15、crease in assets or a decrease in liabilities; a credit represents a decrease in assets or an increase in liabilities.A. capital accountIncluding capital transfer, such as debt relief, immigration transfer and so on.B. financial accountAll transactions including changes in ownership of foreign asset
16、s and liabilities in china. It is divided into direct investment, securities investment and other investment according to the investment mode. Each type of investment is divided into assets and liabilities, in which Chinas foreign direct investment is regarded as assets, and foreign direct investmen
17、t in China is regarded as liabilities.Direct investment refers to the investment that investors seek to obtain an effective right to speak outside the home country.It includes two parts: foreign direct investment in China and foreign direct investment in china.Securities investment includes two type
18、s of Securities Investment: equity securities and debt securities.Other investments refer to all financial transactions except direct investment and securities investment. It can be divided into four forms: trade credit, loan, currency and deposit and other assets.(3) reserve assetsRefers to the for
19、eign assets owned by the Central Bank of China, including currency, gold, special drawing rights, foreign exchange reserves, reserve positions in the fund and other claims.(4) net error and omissionThe error and omission caused by incomplete data, statistical time, valuation standard and conversion
20、difference between different currencies.2. basic accounting principlesThe balance of payments in China is compiled according to the principles stipulated by the international monetary fund. These principles include:(1) the principle of double entry bookkeepingDouble entry bookkeeping is the basic ru
21、le used in the preparation of the balance of payments table. That is, there are two equal value records for each transaction, once credited and debited at one time. According to this principle, the project in the international balance of payments included in the credits include: exports of goods and
22、 services, reduce the receivable income, accept the increase in the free transfer of goods and capital, financial assets and liabilities; the debit items include: reducing the increase in imports of goods and services, and provide support to cope with the free of foreign goods and capital assistance
23、, financial assets and liabilities. If the credit amount is greater than the debit amount, the loan balance is positive, which is called surplus, otherwise called the deficit.(2) the principle of valuation and recording timeFor various real resources, financial claims and debt transactions, the inte
24、rnational balance of payments market price as the basis of transaction valuation. In the absence of market prices, the use of the same conditions of the formation of the market price calculation.The record time of the balance of payments project follows the accrual basis, and the two accounts of eac
25、h transaction should be recorded at the same time.(3) the unit of account and the principle of conversionThe monetary or value scales adopted by the exchanges in the international balance of payments are often different. In order to facilitate the analysis and international comparison, these values
26、must be converted into the same accounting unit. The standard unit of account should be stable, i.e. international transactions using the unit said the value should not be due to other changes in monetary transactions (relative to the unit of account) and under the influence of. The most appropriate
27、 exchange rate is the market exchange rate of the transaction date when the currency is converted into the balance of payments accounting unit. If the market exchange rate does not exist, the average exchange rate should be used in the shortest period. The current account of balance of payments used
28、 in China is us dollars.The relationship between 3. basic indexes(1) current accountCurrent account balance = goods balance + service balance + income balance + current transfer balance(2) capital and financial accountsBalance of capital and financial account = balance of capital account + balance o
29、f financial account(3) reserve assetsReserve asset balance = monetary gold balance + SDR balance + foreign exchange reserve balance + reserve position balance in the Fund + other claims balance(4) net error and omissionThe net errors and omissions (= balance of current account balance + capital and
30、financial account balance + reserve assets balance)(two) International Investment statement1. basic concepts and accounting principlesThe international investment statement reflects the stock of foreign assets and liabilities in China and its changing factors. The international investment statement
31、is consistent with the balance of payments in the principles of accounting unit and translation. On the valuation, the market price of the time table is compiled, the unit of account is USD, and the conversion rate of the dollar is converted according to various currencies.2. basic structure and cla
32、ssificationChinas international investment position table is basically the same as that of the international monetary fund. The main column of the international investment statement is assets and liabilities, and the difference between them is the net position.The specific classification of the main
33、 column is in line with the standard components of the capital and financial account in the balance of payments table of china. Breakdown of assets for direct investment, portfolio investment, other investment and reserve assets; liabilities divided into direct investment, portfolio investment and o
34、ther investment; international investment position of the guest column reflect the beginning and ending positions, and the factors causing the change in their position, including trading, price changes, exchange rate changes and other adjustments.The relationship between 3. basic indexesAt the end o
35、f the first year of trading positions = + + + changes in the price of exchange rate changes and other adjustmentsAssets = foreign direct investment + securities investment + other investment + reserve assetsLiabilities = direct investment in China + securities investment + other investmentAnalysis a
36、nd application of the balance of payments(1) application in GDP accountingThe balance of payments used in the calculation of GDP is mainly manifested in the following three aspects: one is the lender and borrower data price expenditure GDP accounting in net exports of goods and services from the lis
37、t of goods and services in the current account balance; two of gross national income (GNI) in the data from lenders and borrowers net income from the income of foreign elements in the table of current account balance; three is the gross national income (NDI) in the current transfer data of lenders a
38、nd borrowers often transfer net income from the table is often in the project.(two) analysis of balance of payments balanceTotal balance of payments is one of the balance relations of macro economy, and it is an important content of macroeconomic management. All countries in the world try to maintai
39、n their balance of payments balance in economic development, but the actual result is not the case. In some countries, the international income is greater than the international expenditure, and the difference is in line. Some countries are spending more than the income, and the difference is defici
40、t.Generally speaking, a country often has a surplus, which means that its reserve assets continue to increase, and its international economic strength will increase accordingly. On the contrary, the deficit year after year will lead to the reduction of reserve assets and weaken the economic strength
41、 of our country. To observe the equilibrium state of a countrys international balance of payments mainly depends on the current account balance and the balance of capital and financial account of the comprehensive results, the current account balance + the capital and financial account balance, if t
42、his difference is positive, then the international balance of payments surplus, on the contrary, if the overall balance is negative, then the balance of payments deficit. The balance of international payments has a great impact on its own economy, and in-depth analysis of these impacts will help to
43、formulate appropriate foreign economic policies, thereby further improving the total amount and structure of its international balance of payments.The impact of balance of payments on domestic economic growth. When the international balance of payments surplus, the settlement of foreign currency inf
44、lows of funds increased, regardless of whether these currencies converted into domestic currency, it will expand their credit, the decline in interest rates, investment demand, consumption, exports increased, which led to the domestic production, promote economic growth. On the contrary, when the ba
45、lance of payments deficit arises, interest rates rise, aggregate demand shrinks, and economic growth slows down.The influence of international balance of payments on foreign capital flows. When the international balance of payments surplus larger, their money supply increased, slack money, interest
46、rates tend to decline, capital flow in the unregulated case, will cause the outflow of funds, the international balance of payments surplus tends to be reduced. On the contrary, when the deficit occurs, the credit crunch, interest rates rise, causing foreign capital inflows, is conducive to narrowin
47、g the balance of payments deficit.The effect of balance of payments on exchange rate. Under the condition of market economy, the change of exchange rate in a country mainly depends on the change of foreign exchange supply and demand on the market, and the basis of this change is the balance of payme
48、nts of the country. When the balance of payments deficit occurs, the outflow of funds and the demand for foreign exchange in the domestic market exceed the supply of foreign exchange, and the exchange rate of domestic currency to foreign currencies tends to decline. On the contrary, if the balance of payments surplus, foreign exchange supply is greater than foreign exchange demand, the exchange rate of domestic currency to foreign currencies tends to rise.(three) analysis of current account, capital and financial account structureThe analysis of the balance of payments is only one aspect of t