Part F - Derived measures
In GFS, derived measures are obtained by performing arithmetic operations on values recorded for the flows or stocks of individual units / sectors. Paragraphs 3.141 and 3.142 of the IMF GFSM 2014 outline two types of derived measures as aggregates and analytical balancing items.
Aggregates are summations of data relating to a class of flows or stocks of individual units / sectors. For example, tax revenues are the sum of all flows that are classified as taxes of a unit / sector. Aggregates and classifications are closely linked because classifications are designed to produce the aggregates considered to be most useful to users of GFS. In the GFS system, aggregates are produced after consolidation, which eliminates flows and stocks that occur between units contributing to the same aggregate.
Analytical balancing items are economic constructs obtained by subtracting one aggregate from a second aggregate. For example, the GFS net operating balance is an analytical balancing item obtained by subtracting the expenses aggregate from the revenues aggregate. Analytical balancing items are a prominent feature of fiscal analysis because they provide a convenient summary of financial outcomes.