Research On The Accounting Of Capital Stocks And Capital Services

Capital stock and capital services accounting constitute the main elements of the capital accounting, has long been a research in the field of national accounts, one of the hot issues. Regardless of the outcome of the capital stock accounts, or the result of capital accounting services are needed for macro-economic analysis of important data. In practice, the capital stock of a country's national wealth is the most important component of the net capital stock is the national balance sheet direct registry entries. Capital services is the process of production a measure of capital investment. An asset when considering the contribution of the production process, the asset value of its vector value, and assets provided by the corresponding flow of capital services is the best measure of capital investment. Therefore, empirical research in economic growth, often requires measurement of capital services and capital services in the calculation based on the estimated capital investment and technical progress to economic growth.In recent years, the capital stock and capital services in the basic accounting theory and practice has made great progress, OECD (2001) "capital calculations manual" and "productivity measurement handbook" on the capital stock, respectively, accounting and capital accounting services provided the basic framework and methodology. In spite of this, is still only the United States, Australia, Canada and other OECD countries in the capital stock and capital services account for more mature aspects of accounting. With the rapid development of China's economy and the growing economic strength, as reflected in the situation of China's economic development work of the national accounts has made significant progress. However, due to a relatively short history of China's national accounts, of which the capital stock and capital services in a shorter history of accounting, so the accounting of the basis of very weak, especially in respect of capital accounting services is very little research, the vast majority of research capital stock as substitution of capital services. All these show that making recommendations to establish and perfect the capital stock and capital services accounting has important theoretical significance. This study will help China to meet international standards to establish the capital accounting system is conducive to China's national economic accounting system to further improve and strengthen China's national accounts data of the international comparisons. In practice, of the capital stock and capital services, accounting research, accounting for work-related guidance, to enhance the accuracy of accounting data for economic growth, investment efficiency, regional economic disparities research and other related areas to provide more accurate and comparable data, but also the formulation of economic policy for the Government to provide more scientific basis for decision-making to improve our government's macro-economic management capacity.In this paper, accounting for capital stock and capital services into a unified accounting framework of the capital accounts of the comprehensive study. In particular, the text is divided into eight chapters, as follows:Introduction to the first chapter of this paper, the research background, research methods, ideas, and research and innovation may have briefly.Chapter II is involved in the capital accounts of the several areas. This section introduces the economics of various scholars on the definition of capital, and accounting requirements, the object of capital accounts and capital accounts as defined in the content, access to capital with a view to more in-depth understanding of accounting.Chapter III is based on the perpetual inventory method of capital stock of the review of accounting methods. Perpetual inventory accounting method is the primary means of capital. First of all, the basic principles of law are clarified in this chapter. And then the perpetual inventory method of accounting is summed up, for capital stock of two ways - the traditional ways and new ways. The third section of this chapter is the perpetual inventory method to the specific application of the basic principles of the total capital stock and net capital stock accounting, the accounting of this method in practice how to summarize.Chapter IV is the perpetual inventory method other than the capital stock of the review of accounting methods. The other capital stock refers to a direct investigation of accounting methods and the fixed assets balance method. The chapter on South Korea and the Netherlands against capital stock survey carried out by the direct method of analysis and evaluation, the Commonwealth of Independent States of the former balance of fixed assets carried out by methods of analysis and evaluation.Chapter V is the use of perpetual inventory method of capital stock of our country to carry out the actual accounting. Among them, first of all, literature review, of our capital stock accounting summarized the results of relevant research and evaluation. And then make use of the existing data in accordance with the traditional ways of our perpetual inventory method of capital stock in 1952-2007 to carry out the actual calculations; a new way in accordance with the law of our perpetual inventory capital stock of the year 1991-2007 to carry out actual calculations count.Chapter VI is a study of capital services accounting. This chapter describes the relationship between capital services and capital stocks. In this part we measures the volume indices of capital services in 1995-2007 of China, and calculates the multifactor productivity in 1995-2007 in order to analyze the China's economic growth.Chapter VII refers to the primary ideas about the capital accounting system of China. In this chapter, it analyzes the capital accounting system of the United States, Canada and Australia. Learning from their experience, this thesis gives some advices on the framework and methods system of capital accounting in China. Finally, it discusses how the measurement of capital services should enter the system of national accounts.Chapter VIII for the conclusion, a brief summary of the main conclusionsThis innovation is mainly reflected in the following areas:1. The capital stock and capital services accounting of a unified research is conducted within the framework of a new perspective. Throughout the capital of China's existing accounting research results, most of the capital stock accounts for a single study, involving the study of capital accounting services is very little the two into a unified framework to clarify the relationship between the stock and service less research. Capital stock and capital services accounting to a large extent have the same theoretical basis and the data needs to be included in both the capital of a unified accounting framework, to keep them in the concept of the basic assumptions of consistency, etc., can be more clearly reflect the capital stock and capital services, as well as their respective uses of national accounts.2. In the use of perpetual inventory method to estimate China's capital stock, the use of a variety of ways and assumptions, examining a different accounting methods and assumptions affect the results of the calculations and the use of internationally accepted methods of accounting services to China's capital volume index were estimated. We have all the capital stock accounts is carried out using the traditional way, namely, the use of depreciation function to estimate consumption of fixed capital, thus indirectly the result of net capital stock. This article was first introduced services and capital accounts of a more consistent way to account for the new capital stock in China, accounting in this way, the use of age - the price function (Age-Price Profile) and fixed capital formation data over the years a direct measurement of capital net stock.3. The capital of China's accounting system for initial ideas put forward. China has the capital accounting research is often starting from the application of data on capital stock estimates. Most of the literature will focus its research on the accounting of the discussion of specific technical details, the statistics of the capital accounting system, such as basic research does not involve. In this paper, drawing on international experience, combined with the actual situation of China's accounting system for China's capital on the overall framework and methodology put forward a preliminary idea of the system that should be the capital stock and capital accounts into a unified framework for accounting services, the use of perpetual inventory method mainly supplemented by a direct method of investigation, and pointed out that a more detailed classification of the fixed capital formation and asset price index, such as capital accounts need to focus on content. In addition, this article also capital services into the SNA to explore issues that capital services into the System of National Accounts should be step by step into the process started from the subsidiary account, and gradually to account for the production of basic reconstruction, the establishment of a more integrated real production account.