Basic financial indicators - methodology
I. Description of the quarterly survey P 3-04
Information on the development of basic indicators of employment and financial performance of enterprises results mainly from the processing of the quarterly questionnaire P 3-04. The basic population includes enterprises of all production branches (except for financial and insurance activities) with 20 and more employees and some other enterprises that meet specific criteria. For sampling the following information is used: on economic activity of enterprises, number of the insured and some data from the administrative data sources of the Ministry of Finance. The sample includes all enterprises with 50 and more employees and enterprises with less than 50 employees having turnover 200 million CZK or more. Enterprises with 20 to 49 employees and turnover less than 200 million CZK are sampled. Enterprises with less than 20 employees and turnover less than 200 million CZK are not surveyed. Individual versions of the questionnaire P 3-04 (a, b, c, d) differ as for the number of required indicators depending on whether also other questionnaires (e.g. P6-04) are sent to the reporting units. The sample made at the beginning of a reference year is quarterly updated by newly established enterprises during the reference year.
II. Imputations, estimations of parts not covered by the survey
Within the processing of the data received from the quarterly survey the following are made: item imputation (the completion of incompletely filled in questionnaires), imputation of data in the scope of an entire questionnaire and estimation of the non-surveyed part of the population of enterprises (enterprises with 0-19 employees having turnover less than 200 million CZK) according to the known data from an administrative source.
Item imputation is made only if the data in the form are missing (if 0 is given no item imputation is made). Missing data are calculated with the assistance of pre-defined relations among indicators mentioned on the questionnaire and also with regards to the facts found out at enterprises in the same stratum (i.e. group of enterprises in the same branch and of the same size according to the number of employees), which validly completed all the data and these values are not considered to be outlying.
The imputation method is used for non-responses, further for enterprises with 20 and more employees, which have not been included in the original or the updated sample, however, now they already would fulfil the condition for inclusion into the sample as well as for enterprises with 20 to 49 employees that are not in the sample. In case that there is from the given enterprise information from the monthly survey of the current year or from previous periods from the P3-04 questionnaire, the information is usually used for the imputation. In case that there is no information on those enterprises either from the monthly survey or from the previous periods or it is not suitable to use this information due to reasons given in advance, the imputation is made using the turnover from administrative data and the development in the given stratum.
For the estimation of total results of individual branches (2-digit level of the NACE classification) it is necessary to estimate development and volume of data of enterprises with less than 20 employees or without employees (these units are not covered by the survey). It is made with using administrative data sources (employees, wages and salaries, and VAT turnover) as well as from the development of enterprises included in the survey. Then, estimations are specified according to the last results of annual surveys available.
III. Revisions, retroactive corrections
As a consequence of retroactive corrections made for preceding periods (erroneously reported data, capture of delayed questionnaires) as well as due to adjustment of estimations for the non-surveyed part of units to the results of the latest available annual surveys, the data for preceding periods are revised (usually in June of the current year) and thus may differ from the previously published data.
IV. Methodology of indicators
Average registered number of employees
The average registered number of employees includes all permanent and temporary employees (irrespective of nationality), who have employment, service or member relationship with the employer, where the membership also includes employment.
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 in CZK
Average monthly wage
is calculated as follows: Wages (excluding other personnel costs) in CZK (for one month) divided by Average registered number of employees (headcount).
Sales, total are the sum of sales of own products, services and goods for resale (excluding VAT and excise tax).
It includes trade margin (difference between revenues from the goods sold and costs of goods sold or its percentage share in sales of goods), revenues from sales of own products and services, change in in-house inventories of own production and capitalization.
Production consumption consists of consumed purchases (without costs of goods sold) and services. Consumed purchases represent the value of purchased and already consumed material, energy and deliveries that cannot be stored (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 etc.) i.e. output from other units.
It is calculated as output minus production consumption.
Note: Financial indicators are at current prices.