Methodology of time series of annual financial indicators
Data sources
Data source for time series are regular annual structural surveys of small enterprises from selected production branches (P401) and enterprises from selected production branches (P5-01) completed by information from administrative sources.
More detailed information on P4-01 and P5-01 surveys is available at
http://www.czso.cz/vykazy/vykazy.nsf/i/psz_2012_rocni_vykazy.
Basic population and sample
The set of enterprises falling under the survey reporting duty P4-01 and P5-01 is determined by the CZSO pursuant to the data from the Business Register.
Basic population for P4-01 is comprised of economically active natural persons not entered in the Commercial Register while for P5-01 it comprises legal and natural persons entered in the Commercial Register and selected natural persons not entered in the Commercial Register. Economic activity of enterprises is determined by means of administrative sources.
Sample in both surveys (P4-01 and P5-01) is divided into three parts:
- Part of global sampling, which is surveyed exhaustively, i.e. active economic units with parameters for global sampling automatically fall into the reporting duty. It concerns the units, whose absence in the sample could reduce the data validity at the level of a certain branch, institutional sector or size group. Global part of the sample is subject to update during the observed period.
- Part of 100% sampling, which involves the sampling strata (simply a group of enterprises with the same economic activity and of the same size according to the number of employees), whose high population is important for correct process of imputations and the form of final outputs. Part of 100% sampling is not updated during the observed period.
- Part of stratified random sampling comprising all units, which do not meet the conditions of global or 100% selection.
Division into above described parts applies to the sample of all years in time series 2005-2008, but the boundaries between them are floating . Global part of the sample in 2005-2007 for the P4-01 task included units with 20 and more employees and units regardless of the number of employees having annual turnover CZK 100 million or more, while for P5-01 the limit was set at 100 and more employees and CZK 200 million or more. The sample for 2008 set the limit for global part at the level of 20 and more employees for both P4-01 and P5-01. In addition, it included enterprises irrespective of the number of employees with annual turnover exceeding CZK 200 million and all representatives of the institutional sector Non-financial public enterprises (ISEKTOR 11001). Part of 100% sampling in 2005-2007, in direct proportion to the limit for global part, was much larger compared to 2008 and, besides thinly populated sampling strata, it covered the area with 20 to 99 employees for most economic activities.
System of imputations
Comprehensive reform of statistical survey (see below in the chapter Revisions) also brought changes in the system of imputations. In contrast to previous years there has been a departure from the method of reweighing in favour of the imputation method. In simple terms , on the basis of developments in the same stratum and the information from administrative sources, each unit (with 20 and more employees) or group of units (with 0-19 employees) is imputed the required data structure according to predefined relations between indicators.
In terms of annual surveys P4-01 and P5-01, imputations are used in the following cases:
- Complete non-response. Data are imputed to units from the sample, which failed to submit the questionnaire. In case of non-response from very important enterprises with specific data structure and development, the survey results may be markedly distorted.
- Partial non-response. This case occurs when the unit filled a part of the questionnaire in high quality and the rest must be imputed. Typical example of partial non-response in the P5-01 questionnaire are some organizational units of foreign companies which are able to report truthfully the income and expenses achieved in the territory of the CR, but they are unable to distinguish the amount of assets/liabilities from the whole foreign mother. In the P4-01 questionnaire the problem of partial non-response concerns e.g. units expressing their expenditure as a percentage of revenue.
- Estimations of parts not covered by the survey. Based on the development of units in the sample and the information from administrative sources it is necessary to estimate the data for the whole basic population.
- Transition from lower to higher mutation. Units receiving the P5-01 questionnaire with simplified structure of annexes must be imputed at the most detailed level.
Revisions
Data published on the basis of annual surveys P4-01 and P5-01 are final and only in exceptional cases they are subject to retroactive revisions. However, starting from 2008, the CZSO in accordance with other EU countries introduced the new international classification NACE Rev. 2 (CZ-NACE in the CR). Changes in some fields were significant and it was impossible to use the previously published data only with renumbered activities. The CZSO has developed a method of retroactive conversion of time series at the micro-data level taking into account the newly identified wrong classification of some enterprises in the period 2005-2007. Available data sources were newly used for imputations in the whole time series from 2005. Due to time and methodological demands the conversion process has not been finally completed and the CZSO expects their revision during processing of the year 2009. For these reasons the data in time series are presented as preliminary.
Contents
Time series contain the data of selected indicators from enterprises classified according to the Classification of Economic Activities (CZ-NACE) in Section H Transportation and storage and Section J Information and communication.
More detailed information on the Classification of Economic Activities (CZ-NACE) is available at:
http://www.czso.cz/eng/redakce.nsf/i/classifications
Structure
Tables cover the data for all sections, which are further divided by two-digit code of CZ-NACE (divisions):
Section H Transportation and storage
Division 49 Land transport and transport via pipelines
Division 50 Water transport
Division 51 Air transport
Division 52 Warehousing and support activities for transportation
Division 53 Postal and courier activities
Section J Information and communication
Division 58 Publishing activities
Division 59 Motion picture, video and television programme production, sound recording and music publishing activities
Division 60 Programming and broadcasting activities
Division 61 Telecommunications
Division 62 Computer programming, consultancy and related activities
Division 63 Information service activities
Indicators
Employed persons surveyed among enterprises or from administrative sources include the number of workers, i.e.: the registered number of employees (headcount), the number of self-employed persons and family workers, for whom it is one (main) job, persons employed on agreement (FTE according to hours worked).
Average registered number of employees is the annual arithmetic average of the number of persons in employment relationship with the employer.
FTE takes into account the full- and part-time employment.
Wages excluding other personnel costs include basic wages and salaries (wage scale, salary scale, contractual wage), payments additional to wage or salary, bonuses, rewards, compensation for wages and salaries, remuneration for standby duty, and other components of wage or salary.
Average monthly gross wage represents the wage excluding other personnel costs per one employee (headcount or FTE) for one month.
Sales, total include revenues (without VAT) from sales of goods, own products and services.
Output including trade margin includes revenues from sales of own products and services, trade margin, change in in-house inventories of own production and capitalization of materials, goods, services and long-term assets.
Trade margin is the difference between revenues from the goods sold and costs of goods sold.
Production consumption represents the consumption of material, energy and services (external services, entertainment costs and minor intangible assets, on which the accounting unit determines that it is not long-term assets).
Book value added is output incl. trade margin minus production consumption.
Note: All financial indicators are quoted at current prices.