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Accuracy and reliability

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Business Development, Business Statistics
Charlotte Hansen
+45 3917 3177

chh@dst.dk

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Accounts Statistics for Non-Agricultural Private Sector

The statistics provide a reliable picture of the financial situation of the Danish business community, as it is based on a broad sample, administrative data and is based on detailed accounts. Most confident is the statistics at the enterprise level, as the annual accounts are made at this level.

It is assumed that the enterprises in which information is received from SKAT and the Danish Business Authority, in the same industries and with the same ownership form, are comparable with the enterprises in the sample. Furthermore, it is assumed that enterprises with less than 5 employees are comparable to enterprises with 6-10 employees, for enterprises that do not have a large VAT turnover (industry dependent but typically at least DKK 150 million).

Overall accuracy

Some of the information in the accounting statistics is more detailed than the items required by the Danish Financial Statements Act. This applies, for example, to information on energy consumption. This can mean that enterprises may find it difficult to provide this information, and therefore data on this information is likely to be underestimated, as expenditure will instead be placed on other items such as external costs or consumption of goods, which will be overestimated.

Investment information is also not directly reflected in items in the accounts that comply with the Danish Financial Statements Act, but they can usually be deduced from a table in the notes to the accounts. One must therefore also expect a certain likelihood that the investments are experientially underestimated among the enterprises that fill and submit questionnaires to Statistics Denmark.

Accounting statistics are more uncertain at the workplace level than at the corporate level, as the distribution method is based on assumptions. For example, for combined enterprises, the method assumes that the individual workplaces have, as a starting point, accounting figures per year. man-years equivalent to the average for all uncombined enterprises in the same ownership and industry. However, despite the uncertainty, it is considered that the information is reliable at the main industry and regional level.

Sampling error

The main basis of the figures ( except number of enterprises, employees (in FTE) and persons employed (in FTE)) is questionnaire data collected for a sample of enterprises and information from TAX-authority. A sample can not give an accurate picture of the population , and therefore the figures are subject to some sampling errors.

For the calculation of confidence intervals the spread is used, which can be observed among the reported data. The spread is a measure of the variation in the data from individual firms, the larger the spread, the greater the variation. The calculation is performed to calculate the spread and thus confidence interval , taking into account the sample and the additional information from the TAX-authority. This special combination of a sample and additional information from the TAX-authority means that one can not use standard calculations and formulas when the spread is calculated. When you have information from two sources, it is not possible to calculate the spread exact - but only approximate. The method chosen to calculate approximate values ​​for the spread is to take samples in the sample ( Jackknife method). In industry and supply, revenue typically differs below +/- 1 billion. DKK as 95 per cent. confidence interval.

Non-sampling error

Population is defined by the industry in which the enterprises are registered in the Business Register. Inactive enterprises and enterprises with very limited activity are not included in the statistics. Uncertainty due to the non response is minimized by repeated twitching by incomplete reporting. For the financial year 2015, accounting data was received from 94 per cent. Of the enterprises that were withdrawn in the sample. Incorrect data reported and misunderstandings are minimized by checking the reported figures.

Quality management

Statistics Denmark follows the recommendations on organisation and management of quality given in the Code of Practice for European Statistics (CoP) and the implementation guidelines given in the Quality Assurance Framework of the European Statistical System (QAF). A Working Group on Quality and a central quality assurance function have been established to continuously carry through control of products and processes.

Quality assurance

Statistics Denmark follows the principles in the Code of Practice for European Statistics (CoP) and uses the Quality Assurance Framework of the European Statistical System (QAF) for the implementation of the principles. This involves continuous decentralized and central control of products and processes based on documentation following international standards. The central quality assurance function reports to the Working Group on Quality. Reports include suggestions for improvement that are assessed, decided and subsequently implemented.

Quality assessment

As with all questionnaire and administrative surveys, statistical uncertainty must be taken into account. However, the quality of the statistics is generally considered to be high.

Data revision - policy

Statistics Denmark revises published figures in accordance with the Revision Policy for Statistics Denmark. The common procedures and principles of the Revision Policy are for some statistics supplemented by a specific revision practice.

Data revision practice

For larger method shifts or detection of errors, the figures may be revised.