| Clarification description | There are three proposals to improve the relevance of this chapter, in particular in the discussion of satellite accounting related to a more extensive production frontier for non market production (inclusion of domestic own-account production of services, etc.): (1) Discuss the function of double-entry bookkeeping (accounting independently for value of outputs and value of inputs) in nonmarket accounting context and the implications of adopting this approach for the development of nonmarket satellite accounts; (2) Discuss more explicitly the various possible approaches to valuing the inputs and outputs to nonmarket production and, if possible, endorse some general principles for doing this recommendation. This might also include taking a general position on physical versus monetary accounting (see the current comments on this topic in the context of environmental accounting at paragraph 21.138); (3) Propose nonmarket accounts for some specific areas in addition to the environment, say perhaps an education account and a health account."
These proposals reflect the findings of a recent study by the U.S. National Academy of Sciences on this topic. |
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