About social accounting // Economics

[newton666]

Image source pixabay

Greetings, partner back with another interesting content in the world of Economics, every nation within its economy performs its balance of payment, where it performs or records all its transactions as important, exports, national income, GDP, all this national account forms part of the social accounting account. Dear reader, the most unique thing about the case is to know the importance of this type of registry, which will allow us to establish and measure the social contribution of the company in the information that it reports in the year in its financial statements that clearly show social behavior of the company in the so-called social balance, all this has its impact on the economy, be it inflation, the behavior of imports and exports, all this is reflected in the GDP.

Bearing the importance of social accounting, this type of mechanism allows us to know how was the economic development of the region of a country, such as states, provinces, municipalities, since each region is identified by its economic activity, whether it is tourism , mining, agriculture and livestock, oil, all of them sign part of the gross territorial product as part of GDP, from the registration of the flows and funds originated between their economic units between them and abroad, that is why the total results of The national economic activity is specified in magnitudes that synthesize the activity of the country, the GDP and national income are part of the Macroeconomics level.

The national accounts firms part of this social accounting, their function is the representation that allows obtaining a quantitative and simplified description of the economic activity of a country, now well among the entities that is registered is the participation of the domestic units, The family sector, the public sector, the company and the foreign sector in which it represents operations carried out abroad are very important for internal economic activities, purchasing abroad, importing goods and services not produced in the nation. That is why the importance of this type of accounting, where it shows us the management of national income, internal production to know the national income and the capital account, then we have the export party minus imports, with the availability of savings National, from another approach of only information of a social type, is to offer useful data to shareholders and financial markets since such information can influence the valuation of shares, as well as knowing potential investors in a nation.

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[rbalzan79]

Greetings friend @newton666, another interesting article that you share with all of us related to the essential world of economics, on this occasion particularly linked to social accounting aspect of great interest to all of us members of our societies. Thank you for sharing your contents with all of us. Successes.

[carlos84]

Hello @newton666.

How much would be the GDP for each citizen of our country Venezuela? It would be a good economic indicator to evaluate the support of citizens to the country's economy