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Part E - Netting of transactions in non-financial assets

Australian System of Government Finance Statistics: Concepts, Sources and Methods
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The term 'netting' refers to the process whereby entries on alternate sides of the accounts are offset against one another. Although the GFS framework recommends gross recording of data in the accounts, a high degree of netting is inherent in the GFS classifications. The GFS classifications employ the word ‘net’ primarily to indicate the value of items after the deduction of depreciation.