The Time of Recording of Operations

  • Joaquim Miranda Sarmento
Part of the Financial and Monetary Policy Studies book series (FMPS, volume 47)


The recording of operations in the ESA 2010 is carried out using the “accrual” principle (when the expenditure is recorded, that is to say, when the economic value is created/transferred/extinguished, or when the obligation is assumed, changed, or cancelled), except for the case of taxes, where the “adjusted cash” principle is followed. The output is recorded when it is produced, rather than when it is paid for by a purchaser. The sale/purchase of an asset is recorded at the moment when its legal ownership is transferred, rather than at the moment of the respective payment. Interest is accounted for on an accrual basis, rather than when paid. Eurostat only considers as “extraordinary” those expenditures that result from non-controllable events, such as court decisions or natural disasters. The revenues and expenditures from non-repeatable events are considered as “one-off”; however, from a statistic/accounting point of view, these are considered for the calculation of the deficit in the National Accounts.


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© Springer Nature Switzerland AG 2018

Authors and Affiliations

  • Joaquim Miranda Sarmento
    • 1
  1. 1.ISEG Lisbon School of Economics and ManagementUniversity of LisbonLisbonPortugal

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