Accounts, balancing items and aggregates
1.60 . For units (institutional units; local kind-of-activity units) or groups of
units (institutional sectors and, by extension, the rest of the world;
industries), different sub-accounts record the transactions or other flows which are
connected to some specific aspect of economic life (for instance, production). Such
a set of transactions usually does not balance; the total amounts recorded as
receivable and payable usually differ. Therefore, a balancing item must be
introduced. Usually, a balancing item must also be introduced between the total of
assets and the total of liabilities of an institutional unit or sector.
Balancing items are meaningful measures of economic performance in themselves. When
summed for the whole economy, they constitute significant aggregates.