{"id":5474,"date":"2019-02-14T10:36:21","date_gmt":"2019-02-14T05:06:21","guid":{"rendered":"http:\/\/astan.lk\/al_virtualclassroom\/?p=5474"},"modified":"2019-02-16T10:22:46","modified_gmt":"2019-02-16T04:52:46","slug":"national-accounts-using-the-income-approach","status":"publish","type":"post","link":"https:\/\/astan.lk\/al_virtualclassroom\/national-accounts-using-the-income-approach\/","title":{"rendered":"National Accounts using the Income approach"},"content":{"rendered":"<p>National income can be computed in income approach by adding all factor of incomein production process.<br \/>\nFactor incomes in production process.<\/p>\n<h3>\n<span style=\"color: #000000;\">\u00a0Factor incomes can be classified under five categories.<\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\">Income of employment<\/span><\/li>\n<li><span style=\"color: #000000;\">Real income<\/span><\/li>\n<li><span style=\"color: #000000;\">Net interest<\/span><\/li>\n<li><span style=\"color: #000000;\">Profit and entrepreneur\u2019s income<\/span><\/li>\n<li><span style=\"color: #000000;\">Self employment and professional income.<\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\">Employed income is based on three factors<\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\">Salaries and wages<\/span><\/li>\n<li><span style=\"color: #000000;\">Employers&#8217; payments for social security contributions.<\/span><\/li>\n<li><span style=\"color: #000000;\">Insurance services, health facilities, labour compensations and disaster payments to<\/span><br \/>\n<span style=\"color: #000000;\">employees.<\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\">Rent income is based on the following<\/span><\/h3>\n<ul>\n<li>Rent income earned from fixed property and rent from internal resources which are<br \/>\ngiven on lease or rent.<\/li>\n<li>Rent from houses and implicit rent<\/li>\n<li>Income on intellectual property<\/li>\n<\/ul>\n<p>Only net interest of the business sector is included in National income estimates<\/p>\n<h3>\n<span style=\"color: #000000;\">Profit and entrepreneurs&#8217; income are based on the following sources.<\/span><\/h3>\n<ul>\n<li>Corporate income taxes<\/li>\n<li>Dividends given to owners.<\/li>\n<li>Undivided profits<\/li>\n<\/ul>\n<h3>\n<span style=\"color: #000000;\">Self employed and professional income include the following.<\/span><\/h3>\n<ul>\n<li>Sole enterprises which are not registered as companies.<\/li>\n<li>Partnerships and cooperatives .<\/li>\n<li>Farmers&#8217;<\/li>\n<li>Various professionals employed in other jobs<\/li>\n<li>Professionals (Doctors, Lawyers)<\/li>\n<li>Private incomes<\/li>\n<\/ul>\n<h3>\n<span style=\"color: #000000;\">Household income can be calculated as follows<\/span><\/h3>\n<p><a class=\"fancybox\" href=\"http:\/\/astan.lk\/al_virtualclassroom\/wp-content\/uploads\/2017\/01\/Untitled-1try.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-6720\" src=\"http:\/\/astan.lk\/al_virtualclassroom\/wp-content\/uploads\/2017\/01\/Untitled-1try-300x224.jpg\" alt=\"Untitled-1try\" width=\"563\" height=\"420\" \/><\/a><\/p>\n<p>Disposable personal income occurs when direct taxes are deducted from personal income.<br \/>\nThe following schedule illustrates how foreign accounts are related to National accounts.<\/p>\n<p><a class=\"fancybox\" href=\"http:\/\/astan.lk\/al_virtualclassroom\/wp-content\/uploads\/2017\/01\/Untitled-1uu.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-6722\" src=\"http:\/\/astan.lk\/al_virtualclassroom\/wp-content\/uploads\/2017\/01\/Untitled-1uu-224x300.jpg\" alt=\"Untitled-1uu\" width=\"473\" height=\"634\" \/><\/a><\/p>\n<p>National income can be computed in two ways<\/p>\n<p><a class=\"fancybox\" href=\"http:\/\/astan.lk\/al_virtualclassroom\/wp-content\/uploads\/2017\/01\/ggf.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-6723\" src=\"http:\/\/astan.lk\/al_virtualclassroom\/wp-content\/uploads\/2017\/01\/ggf-277x300.jpg\" alt=\"ggf\" width=\"405\" height=\"438\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>National income can be computed in income approach by adding all factor of incomein production process. Factor incomes in production process. \u00a0Factor incomes can be classified under five categories. Income of employment Real income Net interest Profit and entrepreneur\u2019s income Self employment and professional income. Employed income is based on three factors Salaries and wages [&hellip;]<\/p>\n","protected":false},"author":842,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[54,2685],"tags":[],"class_list":["post-5474","post","type-post","status-publish","format-standard","hentry","category-economics","category-unit-4-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>National Accounts using the Income approach - Learning &amp; Education Portal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/astan.lk\/al_virtualclassroom\/national-accounts-using-the-income-approach\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National Accounts using the Income approach - Learning &amp; Education Portal\" \/>\n<meta property=\"og:description\" content=\"National income can be computed in income approach by adding all factor of incomein production process. 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