Efficient ways of dealing with accounting data from enterprises
Margarida Brites
Porto, 20|22 June 2013
Importance of accounting data
INTERNAL USES
Tableau
for
efficiency
EXTERNAL USES
Re-use company internal
accounting data for
fulfilling the mission and
tasks entrusted to
Central Banks
I
II
CBSD
III
IV
Efficient ways of dealing with accounting data from enterprises
V
Porto, 20|22 June 2013
2
1
CBSD in Portugal
QUARTERLY DATA
Survey - ITENF
Statistics Portugal
Central Balance
Sheet Database
ANNUAL DATA
Ministry of Finance
Ministry of Justice
Efficient ways of dealing with accounting data from enterprises
Porto, 20|22 June 2013
3
CBSD databases
Tableau
for
Mandatory
efficiency
Format
Timeliness
Sample / Coverage
Re-use company internal
accounting data for
QUARTERLY
fulfilling DATA
the mission and
tasks
entrusted
to Central
YES
Banks
100% electronic
I months
1.5
3,500 NFC / + 40% (Turn)
III
100% electronic
II
6.5 months
+360,000 NFC (all)
80
+3,100
General features
Balance Sheet
Income statement
External trade
General features
Balance Sheet
Income statement
Notes on the accounts
External trade
V
Additional information
Nr. items
Content
(Non-consolidated
data)
Reduce reporting burden
via institutional
ANNUAL
DATA
cooperation (report a
YES only once)
single format,
IV
Efficient ways of dealing with accounting data from enterprises
Porto, 20|22 June 2013
4
2
Indispensable quality
Second level cross checking
First level
consistency check
(automatic!)
Efficient ways of dealing with accounting data from enterprises
Porto, 20|22 June 2013
5
Cross checking microdata – one example
Tableau
160.000
for
140.000
efficiency
Re-use company internal
Reduce reporting burden
accounting data for
via institutional
fulfilling the mission and
cooperation (report a
New chart of
tasks entrusted to Central
single format,
once)
accounts
CBSD only
Reported
Banks
values
120.000
I
EUR millions
II
CCR values
Use internal
100.000
synergies for
evaluating data quality,
mainly for minimizing
80.000
non-response and
misclassification,
60.000
ensuring microdata
consistency across all
40.000
III statistical
domains 2007
2006
CBSD Final values
CBSD Final values
adjusted by foreign
bank loans
IV
2008
Efficient ways of dealing with accounting data from enterprises
2009
2010
V
2011
Porto, 20|22 June 2013
6
3
Non financial sector indebtedness
CBSD statistical uses
Business
Register
Feedback to
companies
CBSD
Sectoral
benchmarks/
BACH
Statistics : CBSD,
National
Accounts,
BoP/IIP
By economic activity
• Trade credits,
• Inter-company loans
• loans from private shareholders
• ...
Efficient ways of dealing with accounting data from enterprises
By size
Porto, 20|22 June 2013
7
A management tool – Enterprise and Sector Tables
Company
2011
Q1
Q2
Efficient ways of dealing with accounting data from enterprises
About 5 thousand
different aggregates /
year are available on
the internet
Q3
Porto, 20|22 June 2013
8
4
Sectoral Benchmarks - International Comparison
Re-use company internal
accounting data for
fulfilling the mission and
tasks entrusted to Central
Banks
Reduce reporting burden
via institutional
cooperation (report a
single format, only once)
II
3,9%
CBSD can be extensively
Use internal synergies for
used for statistics
evaluating data quality,
(compatibility);
mainly for minimizing
minimizing data gaps;
non-response and
approach: give feedback
misclassification, ensuring
to companies;
microdata consistency
CBSD as a service to the
across
all
statistical
CZ
DE
ES
PL
BE
public FR
IV
V
III
domains
4,7%
I
8,1%
9,2%
11,3%
12,0%
12,0%
Tableau
for
efficiency
11,9%
BACH; Manufacturing 2011, Return on equity
PT
IT
http://www.bach.banque-france.fr/?lang=en
Efficient ways of dealing with accounting data from enterprises
Porto, 20|22 June 2013
9
CBSD other uses – looking for higher debt exposures...
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Total
Large
Equity
Debt to group companies
Efficient ways of dealing with accounting data from enterprises
SME
Micro
Securities issued
Trade credits
Exporting
Public
Bank loans
Other liabilities
Porto, 20|22 June 2013
10
5
CBSD other Central Bank’s uses
Re-use company internal
Reduce reporting
burden
Supervision
Tableau
Economic Analysis accounting
Monetarydata
Policyfor Financial Stability
via institutional
fulfilling the mission and
cooperation (report a
for
tasks entrusted to Central
Bank loans over liabilities (%): Construction
2011format, only once)
single
Banks
efficiency
Huge heterogeneity between companies…
Return on assets…
I
Use internal synergies for
evaluating data quality,
mainly for minimizing
non-response and
misclassification, ensuring
microdata consistency
across all statistical
III
domains
II
CBSD can be extensively
used for statistics
(compatibility);
= 50.9%
minimizingQ3
data
gaps;
approach: give feedback
to companies;
Q2 = 26.5%
CBSD as a service
to the
Q1 = 10.7%
public
IV
Q3 = 1%
Overall, CBSD is very
Q2 = -0.1%
useful for Central
Banks;
Multi-purpose accurate
analysis of companies;
Enlarge CBSD uses;
Minimizing CBSD social
costs
Q1 = -5%
V
1
Efficient ways of dealing with accounting data from enterprises
Porto, 20|22 June 2013
11
Margarida Brites
Head – Central Balance Sheet Division
mpbrites@bportugal.pt
6