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Last modified by Helena on 2025/07/31 14:18
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95 95  19. The gross profit (or the share of profit) of unincorporated household enterprises is equivalent to gross mixed income as defined in the System of National Accounts. It corresponds to the value of gross output reduced by operating expenses, where:
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97 97  * the value of gross output may be defined as the value of all goods and services produced for the market as well as for own final use (market output corresponds to the value of goods and services sold, bartered or provided free of charge or at reduced prices as payments in kind to hired labour; production for own final use includes the value of goods and services consumed by the household or retained for use in future production); and
98 -* operating expenses comprise three types of business expenditure: (a) intermediate consumption (excluding, as far as possible, expenditure for purely personal or household purposes), (b) [[compensation of employees>>doc:working:Glossary.Compensation of Employees.WebHome]] payable, and (c) taxes on production payable, minus subsidies received, if any, as defined in the System of National Accounts.
98 +* operating expenses comprise three types of business expenditure: (a) intermediate consumption (excluding, as far as possible, expenditure for purely personal or household purposes), (b) [[compensation of employees>>doc:working:Glossary.Compensation of employees.WebHome]] payable, and (c) taxes on production payable, minus subsidies received, if any, as defined in the System of National Accounts.
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100 100  20. In principle, profit (or mixed income) should be recorded net of consumption of fixed capital, i.e. after deduction of the value of consumption of productive assets (i.e. structures, machinery and equipment, cultivated assets used to produce other products, etc.).
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