Basic financial indicators – quarterly – Methodology

 

I. Data Sources

Information on the development of employment and some of basic financial indicators results mainly from the processing of the quarterly questionnaire for enterprises of selected production industries P3-04. Templates of statistical questionnaires are available at http://apl.czso.cz/pll/vykazy/pdf1.


II. Population and Sample

Population covers enterprises of all production industries, except for financial and insurance activities, with 20+ employees and some other enterprises that meet specific criteria. Sampling is carried out on the basis of information on economic activity of enterprises, number of employees, and certain data from administrative data sources of the Ministry of Finance of the CR. The sample includes all enterprises with 50+ employees and all enterprises having turnover CZK 200 million and more. Enterprises with 20 to 49 employees and turnover less than CZK 200 million are sampled. Enterprises with less than 20 employees and turnover less than CZK 200 million are not surveyed. Respective versions of the questionnaire P3-04 (a, b, c, and d) differ in the number of required indicators depending on whether other questionnaires (e.g. P6-04) are sent to a given reporting unit as well. The sample created at the beginning of the reference year is being updated with newly established enterprises during the reference year.


III. Imputations and estimations for and of non-observed parts of population

The processing of the data obtained in the quarterly survey involves item imputation (the completion of incompletely filled in questionnaires), imputation of data within the entire questionnaire, and estimation (by imputation) of the non-observed part of population (enterprises with 0-19 employees having turnover less than CZK 200 million).

Item imputations are carried out only if the item data are missing in the questionnaire (if 0 is given, no item imputation is performed). Missing data are calculated by means of pre-defined relations among indicators in the questionnaire and also with regards to the surveyed results of enterprises in the same stratum (i.e. group of enterprises in the same industry and of the same size by the number of employees), which validly completed all the data and these values are not considered to be outliers.

The imputation method is applied on non-responses, furthermore for enterprises with 20+ employees, which have not been included in the sample. On condition that there is information from a given enterprise of monthly survey for the current year, or for previous reference periods from the questionnaire P3-04, then such information is used for the imputation in most cases. If there is no information on such enterprises either from the monthly survey or from the previous reference period, or it is not suitable to use this information due to reasons given in advance, the imputation is made using available administrative data and the development in the given stratum.

For the total estimation of respective industries (2-digit level of the NACE classification) it is necessary to estimate development and volume of data for the non-observed part of population - enterprises with less than 20 employees or without employees. It is carried out using information from administrative data sources (employees, wages and salaries, and VAT turnover) as well as from the development of enterprises covered by the survey.


IV. Revisions

In accord with the CZSO Data Revision Policy there are ordinary revisions carried out in the P3-04 survey with the objective to improve quality of previously published data. This is achieved by including data from late received questionnaires into the processing, by correcting of erroneously reported data as well as by using up-to-date data from administrative data sources.


V. Year-on-Year Comparability

Year-on-year comparability of data is influenced by organizational changes, changes in principal activity, changes to legislation, and changes to accounting procedures.

Quarterly data are dedicated to the preliminary evaluation of short-term (year-on-year) development. Long-term development is evaluated by means of year time series. Quarterly data for 2010 - 2017 have been harmonised with annual data and therefore are not fully comparable with data for the year 2018.


VI. Comparability in Terms of Methodology with Other Surveys

Results of the quarterly survey may differ from results published from other types of surveys. Monthly survey data are published on days when enterprises have no precise figures for the reference periods available and fill in estimates to the questionnaire. Data from administrative data sources for the surveyed month are not available as well. Moreover, methods applied for sampling and imputations also differ.

Results of the quarterly survey may differ from results of annual survey published after for reasons as follows: enterprises have no precise figures for the reference periods available and therefore the figures are replaced by estimates, data from all administrative data sources are not available, and the sample covers a smaller number of reporting units than that for the annual survey.


VII. Methodology of Indicators

Average registered number of employees
The average registered number of employees includes all permanent and temporary employees (irrespective of citizenship), who have employment contract, service contract, or membership with the employer, where the membership also includes employment relation.

Wages (excluding other personnel costs)
Wages refer to remuneration for work (in money or in kind) provided by the employer to employees, kept in the employer’s registered number of employees. Other personnel costs are excluded.

Average monthly wage (CZK)
The average monthly wage is calculated as ratio of Wages (excluding other personnel costs) in CZK (for one month) to Average registered number of employees (headcount).

Sales, total
Sales, total are the sum of sales of own goods, services, and goods for resale, excluding VAT and excise tax.

Outputs
It includes trade margin (difference between revenues from the goods sold and costs for the goods sold), revenues from sales of own goods and services, change in inventories of own production and capitalization.

In accordance with the amendment of the Decree No. 500/2002 Coll. valid from 1.1.2016, names of some indicators have been changed. The indicator „Consumed materials, energy, and services“ has the same content as the previous indicator „Production consumption”.

Consumed materials, energy, and services
Consumed materials, energy, and services consist of consumed purchases (without costs of goods sold) and services. Consumed purchases represent the value of purchased and already consumed material, energy, and non-storable supplies (e.g. water for technological purposes, electricity, and water for distribution purposes). Services represent the value of purchased external services (repairs and maintenance, travel expenses, transportation costs, rent, leasing, etc.) i.e. outputs from other reporting units.

Value added
It is calculated as the difference between outputs and production consumption.

Note: The financial indicators are at current prices.


VIII. Additional methodological information and external links

Eurostat: Data series metadata according to the Council Regulation (EC) No. 1165/98:

Labour in wholesale and retail trade (C210, C220 a C230 series)
Labour in services (D210, D220 a D230 series)

Eurostat: EU short-term statistics legistlation

Eurostat: EU short-term statistics methodology and manuals