TY - BOOK ID - 84542370 TI - Statistical Treatment of Accrual of Intereston Debt Securities AU - Wright, Chris. AU - Joisce, John. PY - 2001 SN - 1462320635 1451985398 1282110446 1451900635 9786613803337 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Accounting KW - Investments: General KW - Investments: Bonds KW - Macroeconomics KW - Personal Income, Wealth, and Their Distributions KW - Intertemporal Firm Choice and Growth, Investment, or Financing KW - Macroeconomics: Consumption KW - Saving KW - Wealth KW - Aggregate Factor Income Distribution KW - Financial Markets and the Macroeconomy KW - Debt KW - Debt Management KW - Sovereign Debt KW - General Financial Markets: General (includes Measurement and Data) KW - General Aggregative Models: General KW - Public Administration KW - Public Sector Accounting and Audits KW - Investment & securities KW - Financial reporting, financial statements KW - National accounts KW - Personal income KW - Securities KW - Bonds KW - Financial statements KW - Financial institutions KW - Public financial management (PFM) KW - National income KW - Income KW - Financial instruments KW - Finance, Public KW - Canada UR - https://www.unicat.be/uniCat?func=search&query=sysid:84542370 AB - When new international statistical standards were published in 1993, one of the major changes to the recommended presentation of the system of national accounts and the balance of payments was the adoption of accruals reporting for income and expenditure. However, as countries have begun to implement these standards, questions have arisen about their exact interpretation in respect of interest flows associated with tradable debt, where the cash flow is fixed at the time of issue but where the price of the instrument fluctuates with market conditions. A clear consensus has yet to emerge. The paper explores the issues involved in using the alternative approaches, the so-called "debtor" and "creditor" approaches. The debtor approach uses the rate implicit at the time of issue, and the creditor approach, the current market rate. The paper concludes that the creditor approach is the only one consistent with accrual principles and market valuation for the debt outstanding. It reviews implications for national and sectoral saving from this approach. ER -