The national income and product accounts (NIPA) are part of the national accounts of the United States. They are produced by the Bureau of Economic Analysis of the Department of Commerce. They are one of the main sources of data on general economic activity in the United States.
They use double-entry accounting to report the monetary value and sources of output produced in the country and the distribution of incomes that production generates. Data are available at the national and industry levels.
Seven summary accounts are published, as well as a much larger number of more specific accounts. The first summary account shows the gross domestic product (GDP) and its major components.
The table summarizes national income on the left (debit, revenue) side and national product on the right (credit, expense) side of a two-column accounting report. Thus the left side gives GDP by the income method, and the right side gives GDP by the expenditure method.
The GDP is given on the bottom line of both sides of the report. GDP must have the same value on both sides of the account. This is because income and expenditure are defined in a way that forces them to be equal (see accounting identity). We show the 2003 table later in this article; we present the left side first for a convenient screen display.
The U.S. report (updated quarterly) is available in several forms, including interactive, from links on the Bureau of Economic Analysis (BEA) NIPA () page. Other countries report based on their own adopted system of National accounts which are frequently based on the U.S. NIPAs, the widely adopted United Nations System of National Accounts, or their own custom approach. The level of detail (granularity) accounted for internally, and reported publicly, varies widely across countries. Likewise, a nation's system of accounts, (analogous to a firm's Chart of accounts) are typically gradually revised and updated on their own individual schedule. The U.S. NIPAs are prepared by the staff of the Directorate for National Economic Accounts within the BEA.
This page is automatically generated and may contain information that is not correct, complete, up-to-date, or relevant to your search query. The same applies to every other page on this website. Please make sure to verify the information with EPFL's official sources.
National accounts or national account systems (NAS) are the implementation of complete and consistent accounting techniques for measuring the economic activity of a nation. These include detailed underlying measures that rely on double-entry accounting. By design, such accounting makes the totals on both sides of an account equal even though they each measure different characteristics, for example production and the income from it. As a method, the subject is termed national accounting or, more generally, social accounting.
Value added is a term in financial economics for calculating the difference between market value of a product or service, and the sum value of its constituents. It is relatively expressed to the supply-demand curve for specific units of sale. It represents a market equilibrium view of production economics and financial analysis. Value added is distinguished from the accounting term added value which measures only the financial profits earned upon transformational processes for specific items of sale that are available on the market.
Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period by a country or countries. GDP is most often used by the government of a single country to measure its economic health. Due to its complex and subjective nature, this measure is often revised before being considered a reliable indicator. GDP definitions are maintained by several national and international economic organizations.
This course introduces frameworks and tools for understanding the economic dimensions of the world we live in. The course includes applications to real-world situations and events. Assessment is throu
This course examines growth from various angles: economic growth, growth in the use of resources, need for growth, limits to growth, sustainable growth, and, if time permits, population growth and gro
This course gives the framework and tools for understanding economic events, taking financial decisions and evaluating investment opportunities in a global economy. It builds up an integrated model of
Buildings are demolished when they are considered obsolete, in other words, when they have reached the end of their lifespan. Demolition leads to waste; in Europe, construction and demolition waste accounts for approximately 25-30% of the total waste gener ...
2023
In this article, we review the growing literature on financial technology (FinTech) lending-the provision of credit facilitated by technology that improves the customer-lender interaction or used in lenders' screening and monitoring of borrowers. FinTech l ...
Our contribution will propose a new approach for engaging with scientific instruments inspired by a recent exhibition which we have designed and organized. Inverting the current trope of presenting history through many objects, the exhibition weaved togeth ...