9.8. Current transfers should be valued at the market value of the real and financial resources to which the transfers are offsets. If no actual market values are in evidence, those resources should be valued on the basis of explicit costs incurred in their provision or on the basis of amounts that would be received if resources were sold. However, to ensure that the same values are recorded by both donors and recipients, the donor-assigned values are preferred.
9.9. Ideally, transfers are recorded at the times when the resources to which they are offsets change ownership, so that the date of occurrence of the underlying transactions becomes the time of recording for various transfers.
9.10. Transfer items derived from Government Ledgers are valued on the basis of the Australian dollar amounts received or paid by the Commonwealth Government. They are valued on a cash flow basis, which matches the correct timing for the components of cash aid. For some components, such as aid in kind, the cash basis will capture when the Australian Government pays for the goods or services, rather than on the more conceptually correct accrual basis of when the goods and services are supplied to the recipient economy, although for current transfers any differences are likely to be small. For other sectors’ transfers, the most significant component measures non-life insurance transfers on an accrual basis, using data on premiums earned and claims payable. The residual other transfers category covers only the contra entries to ‘unrequited’ cash flows into and out of Australia, where the timing and valuation bases match the required conceptual basis.