5 46 balance of payments accounts the source data for

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estimates (note 6). 5 .46. Balance of payments accounts: The source data for the foreign transactions reflected in most NIPA components - for example, net exports of goods and services and rest-of-the-world corporate profits - are the balance of payments accounts (BOP), which are also prepared by the BEA (note 7). As noted in table 5.1, for some NIPA components, the BPA estimates are adjusted to conform to NIPA concepts and definitions (note r:-·
130 8). Annual estimates of these adjustments and their definitions are shown in NIPA table 4.5, which usually appears annually in the August issue of the Survey of Current Business. 5 .4 7. Other infonnation: iil preparing annual estimates of several of the income-side components, the BEA adjusts the source data for various coverage and conceptual differences. For each subcomponent listed below, an annual NIP A table reconciles the value published by the source agency with the NIP A value published by the BEA and identifies the BEA adjustments. The following is a list of the subcomponents and their corresponding reconciliation tables: for wages and salaries, table 8.25; for fann proprietors' income, table 8.22; for non-fann proprietors' income, table 8.21; for corporate profits, table 8.23; for net interest, table 8.24; and for consumption of fixed capital, table 8.20. The most recent data for corporate profits as of this writing appear in appendix 4 of this chapter. All these NIPA reconciliation tables usually appear annually in the September issue of the Survey of Current Business. 4. NIP A terms and SNA equivalents 5 .48. The NIPA components of the product side of GDP are equivalent to the SNA expenditure components of GDP. Personal consumption expenditures consist of SNA household final consumption expenditures and final consumption expenditures of non-profit institutions serving households. Gross private domestic investment differs from gross capital fonnation primarily because government capital fonnation in the NIPA is included in the government consumption expenditures and gross investment component. Exports and imports of goods and services are essentially the same in both systems. 5.49. The NIPA components of the income side of GDP are equivalent to the SNA cost components of gross value added. Compensation of employees, indirect taxes and subsidies, and consumption of fixed capital are essentially the same in both systems. The sum of the remaining NIPA income side components constitutes the SNA operating surplus. For the NIPA the detailed components of the operating surplus are aggregated to calculate GDP; the total operating surplus is estimated directly rather than derived as a residual. NOTES 1. For additional details on the release schedule for the NIP A estimates, see "A Look at How BEA Presents the National Income and Product Accounts" in the May 1996 Survey of Current Business, pp. 33-37.

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