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Appendix E



The accounting basis whereby items are brought to account as they are earned or incurred (and not as cash is received or paid).


Future economic benefits controlled by an entity as a result of past transactions or events.

Balance on goods and services

The excess of exports over imports (of goods and services).


Current Account Deficit.


Refers to the Commonwealth General Government Sector (unless stated otherwise).


Consumer Price Index.

Euro Area

The Euro Area member countries are: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain.

Fiscal Balance

The difference between government saving and investment. It measures net lending or the government's net call on other sectors in the economy, and so corresponds to the government's direct contribution to the external current account balance.


Gross Domestic Product.

General Government

Resident public entities that are mainly engaged in the production of goods and services outside the normal market mechanism for consumption by governments and the general public. Costs of production are mainly financed from public tax revenues. Goods and services are provided free of charge or at nominal charges well below the costs of production.


Future sacrifices of economic benefits that an entity is presently obliged to make to other entities as a result of past transactions or events.


Major Trading Partner.

Net capital investment

The change in non-financial assets owned by the government. It measures the net effect of purchases, sales and consumption of non-financial assets during an accounting period.

Net debt

The difference between gross debt and financial assets.

Net Income Balance

The excess of the income earnt by Australians on their foreign assets and the income earnt by foreigners on Australian assets.

Net operating balance

The balance of the GFS operating statement. It is defined as the increase in net assets (or worth) less the effects of revaluations.

Net worth

The residual interest in the assets of a reporting entity after the deduction of its liabilities.


Organisation for Economic Co-operation and Development.


A cash payment.


The relationship between the output of goods and services and the inputs of resources used to produce them.

Underlying cash balance

Revenue less underlying outlays (defined as outlays excluding net advances).

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