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National Accounts Report of the Eurostat Task Force Software Room document 1 STATISTICS DIRECTORATE National Accounts Report of the Eurostat Task Force Software Measurement OECD MEETING OF NATIONAL ACCOUNTS EXPERTS Château de la Muette, Paris 8-11 October 2002 Beginning at 9:30 a.m. on the first day Report of the Eurostat Task Force Software Measurement June 2002 2 Table of contents 1. INTRODUCTION...............................................................................................................................1 2. GUIDELINES FROM THE ESA95...................................................................................................2 3. COUNTRY PRACTICES...................................................................................................................3 4. INTERPRETATION OF ESA95 .......................................................................................................6 4.1. INTRODUCTION..................................................................................................................................6 4.2. SOME GENERAL PRINCIPLES FOR SOFTWARE ......................................................................................6 4.2.1. Definition of software..............................................................................................................6 4.2.2. The life of a software system ...................................................................................................8 4.2.3. Embedded and bundled software; subcontracting..................................................................8 4.2.4. Estimating own-account; which inputs to include? ..............................................................10 4.3. DATABASES.....................................................................................................................................11 4.4. DISCUSSION BY PRODUCT................................................................................................................12 5. BUSINESS ACCOUNTING FOR SOFTWARE ............................................................................18 6. THE MEASUREMENT OF SOFTWARE .....................................................................................19 6.1. BALANCING SUPPLY AND DEMAND FOR SOFTWARE .........................................................................19 6.2. OUTPUT, INCLUDING OWN-ACCOUNT...............................................................................................20 6.2.1. Output of marketed computer software.................................................................................20 6.2.2. Output for own fixed capital formation.................................................................................23 6.3. INTERMEDIATE CONSUMPTION ........................................................................................................26 6.4. GROSS FIXED CAPITAL FORMATION..................................................................................................26 6.5. HOUSEHOLD FINAL CONSUMPTION...................................................................................................27 6.6. CHANGES IN INVENTORIES...............................................................................................................28 6.7. EXPORTS AND IMPORTS ...................................................................................................................29 6.7.1. Trade in goods ......................................................................................................................29 6.7.2. Trade in Services...................................................................................................................30 6.8. CONSUMPTION OF FIXED CAPITAL....................................................................................................33 7. DEFLATION OF SOFTWARE.......................................................................................................34 7.1. DEFLATION OF PACKAGED SOFTWARE .............................................................................................34 7.2. CUSTOM SOFTWARE ........................................................................................................................35 7.3. OWN-ACCOUNT SOFTWARE .............................................................................................................35 8. FINAL REMARKS...........................................................................................................................36 ANNEX 1: CONCORDANCE TABLE IN CPA 2002 .............................................................................37 ANNEX 2:THE ANNUAL LICENSE PAYMENT PROBLEM .............................................................38 ANNEX 3: BUSINESS ACCOUNTING: SOME EXAMPLES ..............................................................40 ANNEX 4: ESTIMATING OWN-ACCOUNT OUTPUT: WHICH INPUTS TO INCLUDE? ...........45 ANNEX 5: ESTIMATING OWN-ACCOUNT OUTPUT FROM DIFFERENT SOURCES OF LABOUR DATA.........................................................................................................................................49 ANNEX 6: LIST OF PARTICIPANTS TO TASK FORCE ...................................................................55 ANNEX 7: LIST OF TASK FORCE DOCUMENTS..............................................................................56 4 1. INTRODUCTION SNA93 and ESA95 require expenditure on software to be recorded as gross fixed capital formation: this is one of the biggest changes compared to SNA68 and ESA79. In the last few years, therefore, countries have included estimates for investment in software in their national accounts, adding directly to GDP. However, evidence shows that the methodologies behind the estimates do not necessarily lead to comparable results. At the meetings of the National Accounts Working Party in June 2001 and the GNP Committee in July 2001 it was therefore proposed to organise a Task Force to study this issue and propose recommendations to improve comparability. The Task Force's objective was to investigate current methods for the measurement of output and GFCF in software, to clarify any conceptual issues where necessary, to analyse the advantages and disadvantages of each method and to propose solutions to bring the results of different methods closer together. In particular, the following issues were discussed: • What is software? What are the different types of software? Should all types be included as GFCF? What about large data bases? • Estimation from the supply side: what sources are available? How then to make the distinction between intermediate consumption and GFCF? • Estimation from the demand side: what sources are available? How then to make adjustments to company accounts if necessary? • How to reconcile data from the supply and demand sides? • How to estimate software produced on own-account? • Possible sources of price or volume information for software. • The bundling of software with hardware and the consequences for measurement. • How to estimate consumption of fixed capital of software? What are appropriate service lives? The Task Force was comprised of nine EU countries plus Eurostat and the OECD (see annex 6 for a list of participants). The OECD ran a parallel Task Force to which the Eurostat Task Force contributed. The recommendations of this report are fully compatible with the recommendations from the OECD Task Force. The Eurostat Task Force met three times: 25-26 October 2001 in Luxembourg, 31 January-1 February 2002 in London and 16-17 May 2002 in Luxembourg. In addition, a joint meeting with the OECD was organised in Paris on 22-23 April 2002. A list of documents prepared by the Task Force is included as annex 7. 1 2. GUIDELINES FROM THE ESA95 Starting point is the definition of gross fixed capital formation (GFCF): 3.102 Gross fixed capital formation (P.51) consists of resident producers’ acquisitions, less disposals, of fixed assets during a given period plus certain additions to the value of non-produced assets realised by the productive activity of producer or institutional units. Fixed assets are tangible or intangible assets produced as outputs from processes of production that are themselves used repeatedly, or continuously, in processes of production for more than one year. 3.105 The following types of gross fixed capital formation may be distinguished: (a) acquisitions, less disposals, of tangible fixed assets: (…) (b) acquisitions, less disposals, of intangible fixed assets: (1) mineral exploration (2) computer software (3) entertainment, literary or artistic originals (4) other intangible assets (c) … (d) … Thus, computer software is an intangible fixed asset when used in production for more than one year. The asset category "Computer software" (AN1122) is defined as follows (in annex to chapter 7): Computer programs, program descriptions and supporting materials for both systems and applications software. Included are purchased software and software developed on own account, if the expenditure is large. Large expenditures on the purchase, development or extension of computer databases that are expected to be used for more than one year, whether marketed or not, are also included. This definition makes clear that also large expenditures on databases are to be included1. GFCF is valued at purchaser's prices including all transport, installation and other costs of ownership transfer or - in the case of own account production - at estimated basic prices, or at production cost when satisfactory estimates of basic prises cannot be
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