Abstract
It is one of directions of the reform about China’s national economic statistics system to incorporate the intellectual property products into the GDP statistics, and the capital of intellectual property products is the first work to be incorporated into the GDP statistics. This article selected the entertainment industry as a microcosm of the development of the intellectual property economic, and accounted the capitalization of the original expenditure on entertainment industry to provide a reference for Chinese intellectual property products capital accounting and GDP accounting system reform.
Highlights
With the global economic development practice and economic theory constantly evolving, the mainstream of the system of national economic accounting (System of National Accounts: SNA-1993) has not accurately reflected the growth of national wealth, the differences in the quality of economic development or the true state of intellectual property and other intangible assets [1]
The 40th session of the UN Statistical Commission established a new national economic accounting international statistical standards SNA-2008, in the SNA-2008, the entertainment products and other intangible assets are seen as intellectual property products and incorporated into classification of fixed assets, and included in GDP accounting, which shows the great value of intellectual property [10]
China works in full swing for the intellectual property products into the GDP statistics, but the new accounting system has not been introduced
Summary
With the global economic development practice and economic theory constantly evolving, the mainstream of the system of national economic accounting (System of National Accounts: SNA-1993) has not accurately reflected the growth of national wealth, the differences in the quality of economic development or the true state of intellectual property and other intangible assets [1]. According to the data from the Bureau of Economic Analysis, the United States mainly uses the method of net present value of future income to capitalize the production expenditure of entertainment products, the specific steps are as follows: 1) estimates of the total current revenues of licence fees, sales of commodities, ticket sales, etc.; 2) to deduct the cost of advertising, reproduction and other markets from the total current income, and calculate the net income; 3) to adjust the net income by using the investment ratio of the Bureau of Economic Analysis to include only the original product; 4) using the net present value adjustment factor to adjust the value of the net income, with the aim of deducing the current investment value from these new works of future earnings [7] This method can only be used for reference to Chinese relevant research from the macro accounting method, and China still does not have the conditions to implement this method.
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
