Economic Results of Monetary Institutions

The data result from the processing of the three types of quarterly statistical questionnaires:

• Pen 3a-04 – filled out by banking monetary institutions (CZ-NACE 651) which keep books in accordance with the chart of accounts for banks,
• Pen 3b-04 – all businesses with their principal activity coming under CZ-NACE 652 (Other financial intermediation) and CZ-NACE 67 (Activities auxiliary to financial intermediation) are obliged to fill out this questionnaire. They keep the books in accordance with the chart of accounts for banks and mostly include investment companies and funds managed by the investment companies and also saving and credit cooperatives and licensed brokers,
• Pen 3c-04 – all businesses with their principal activity coming under CZ-NACE 652 and CZ-NACE 672 are obliged to fill out this questionnaire. They use the chart of accounts for entrepreneurs and include financial leasing companies, persons registered by the Czech securities Commission, brokers.

When current quarter data are processed, data for the previous period are corrected retroactively with regard to the questionnaires provided after the deadline for the previous quarter or to corrections submitted by reporting units. Hence, the data for the previous period may differ from those released before. Definitive corrections of quarterly data are carried out on the basis of comparisons with annual data reported on annual questionnaires Pen 5a-01 (banking monetary institutions), Pen 5b-01 (non-banking monetary institutions accounting as banks) and P 5-01 (non-banking monetary institutions not accounting as banks). This implies that data for 2003 will be definitely corrected according to more exact annual data at about the end of 2004 and will be used for corrections in the publication for the 4th quarter of 2004 to be brought out in March 2005. Besides, results obtained from the annual questionnaires Pen 5a-01, Pen 5b-01 and P 5-01 are published in a separate publication.

Notes on the tables

The publication presents information on the following types of businesses:

• banking monetary institutions (CZ-NACE 651),
• non-banking monetary institutions (CZ-NACE 652 and 67) of which separately for:
• investment companies and mutual and investments funds managed by the investment companies,
• financial leasing companies.

“–“ – not available,
“0” – zero or negligible,
“.” – confidential,
“x” – can not be displayed for logical reasons (e.g. the index exceeds 999.9).

Index – shows development in comparison with the corresponding period of the previous year (%).

The concept natural person includes individuals (citizens) and self-employed persons (entrepreneurs, traders, free professions) not incorporated in the business register.

The contents of the indicators presented in the tables mostly correspond to the names of accounts or account groups according to the chart of accounts for banks and entrepreneurs.

Table 1. Employees, wages

Average registered number of employees – all permanent and temporary employees (regardless of their nationality) who have contracts of employment with employers (in cooperatives: persons – members of the cooperative with contracts of employments, too) and receive wages from the employer for the work they do. It doesn’t matter whether they are really present at work or not (e.g. for illness, holiday, military training, etc.).

Persons such as women on maternity and child-care leaves, persons on parental leave (however, if they have a contract of employment at the same time they are included in the registered number of employees of the employer for which they carry out work), persons in military service (including the compulsory community service), apprentices and students on practice, persons working on the basis of contracts for work or fixed job contracts, etc. are not included here.

The average registered number of employees in terms of actual persons is calculated as the arithmetic mean of average numbers of employees in individual months.

Conversion to full-time equivalent persons is carried out for part-time employees.

Wages (excl. OPC – other personal costs) - both financial and non-financial remuneration (wages in kind) provided by employers to employees for work. They include scale wages and salaries, personal assessments, extra pays and supplementary charges and other similar pays, premiums and various remunerations, compensations for wages and salaries, remuneration for being on-call. Wages in kind also include the relevant share of the acquisition costs of motor vehicles provided to employees by employers for personal and business purposes. Wages also include remuneration for work paid, as decided by the employer, from disposable profits, remuneration fund or any other fund created from disposable profits. Other personal costs (OPC) are not included in wages. The wages are gross wages charged for payment in the reference period.

Other personal costs (OPC) – remunerations for work done on the basis of other than labour, service or member relationships to the employer. They mostly include remuneration for work done on the basis of other than contract of employment, remuneration based on copyright, severance payments, remuneration to board members (except for royalties paid from profits), remuneration to apprentices, etc.

Table 4. Basic data on tangible and intangible fixed assets

Acquisition of tangible and intangible fixed assets includes expenses spent during reference quarter on the acquisition of these assets by

1. purchasing or by own activity
2. acquiring rights to intellectual creative activity results
3. by free acquisition or transfer in accordance with legal regulations or by transfer from personal use to business use. The acquisition of tangible fixed assets includes expenses spent gradually or all at once regardless of whether the fixed asset was put in use in the quarter or not. The acquisition also includes the value of fixed assets financially leased (at the level of their initial value not repayments). (It refers to financial leasing contracts whose date of the beginning of maturity comes under reference quarter.) As the acquisition of tangible and intangible fixed assets is reported on the users’ side, companies engaged in financial leasing only report assets they use for their own activity. They do not report intangible and tangible fixed assets they purchased for the purpose of financial leasing (though they are owners of these assets as stipulated by the law).

Acquisition of intangible fixed assets, total – the data are drawn on from the turnover on the debit side in accounts that register the acquisition of intangible fixed assets (depending on the chart of accounts and book-keeping methods the reporting units use) or from the property account (if acquired assets were charged on the account directly). Given always is the sum total for turnover items charged in reference period (not total turnover from the beginning of year). The intangible fixed assets include:

• expenses on starting a new business,
• intangible results of research and similar activities which are not any subject of to industrial and other valuable rights
• software,
• know-how,
• licences,
• subjects of industrial rights and other results of intellectual creative activity which
• are the subject of valuable rights both acquired and provided.

Acquisition of intangible fixed assets of foreign origin, of both new and already used abroad – shown is only the part of acquired intangible fixed assets which includes expenses on the acquisition of assets of foreign origin (both new and already used abroad), irrespective of the importer.

Acquisition of tangible fixed assets, total - data are derived from totals on the debit side of accounts which register purchases of tangible fixed assets (depending on the chart of accounts and the book-keeping methods the reporting units use), or from the property account (if the purchased fixed assets were charged on this account directly). Given always is the sum total for turnover items charged in reference period (not total turnover from the beginning of year).

Land – the value of land whether or not built up is given.

Buildings, halls and constructions, machinery, instruments, equipment and inventory, means of transport – expenses mentioned in these lines include the acquisition of both new fixed assets (regardless of the country origin) and imported fixed assets used abroad already, regardless whether the fixed assets were imported by an investor or a third person (from the viewpoint of the Czech Republic this property is considered to be new). Cases of transferring fixed assets from personal to business use are treated similarly. Costs associated with the implementation of technical improvement of an existing fixed asset or with a technical reclamation of land belong here as well. Expenses on the acquisition of buildings and constructions are shown exclusive of the value of land.

Tangible fixed assets used in the CR already (excl. land) – given are costs (expense) of the acquisition of tangible fixed assets (purchases of older buildings, machines, etc.) that have been used in the CR by a company or organisation already before, irrespective of the country of origin.

Acquisition of tangible fixed assets of foreign origin – given is the part of acquired tangible fixed assets which includes expenses on the acquisition of tangible fixed assets of foreign origin (both new and already used abroad), irrespective of the importer.