Glossary – U

Canadian System of National Accounts glossary – U
Term Definition
Unamortized foreign exchange loss Recognition on the balance sheet of losses that would be encountered if the current foreign exchange rate would be applied in converting debt denominated in foreign currencies.
 
Underground economy Activities which may be both productive in an economic sense and also quite legal (provided certain standards or regulations are complied with) but which are deliberately concealed from public authorities usually to avoid the payment of taxes or to avoid meeting certain standards or administrative requirements.

See also: The Size of the Underground Economy in Canada, Catalogue no. 13-603 no. 2
 
Unfilled orders Orders received but not yet shipped, excluding orders for goods purchased for resale. Unfilled orders represent a backlog or stock of orders which will generate future shipments, assuming that orders are not cancelled. In cases where progress payments have been received by manufacturers, the reported value of unfilled orders is reduced by the balance of progress payments on hand at the end of the accounting period.
 
Unfunded pension plan Plan that is financed directly from contributions from the plan sponsor or provider and/or the plan participant. Unfunded pension plans are paid on a current disbursement method (also known as the pay as you go method). Unfunded plans may have associated reserves to cover immediate expenses or to smooth contributions within given time periods.
 
Unidentified wines Wines which do not belong to either red or white types or for which the breakdown between red and white is not available.
 
Unincorporated business sector Consists of all resident market producers who are not corporations and are not incorporated professionals.
 
Component of: Business sector

Composed of: Sole proprietorships, Self-employed farmers and fishermen, Incorporated professionals, Unincorporated landlords (including those renting to themselves).

Source: Guide to the Income and Expenditure Accounts, Catalogue no. 13-017

Notes: Discontinued with the Canadian System of National Accounts 2012 historical revision.

French: Secteur des entreprises individuelles
Unincorporated enterprise A producer unit which is not incorporated as a legal entity separate from the owner (household, government or foreign resident); the fixed and other assets used in unincorporated enterprises do not belong to the enterprise but to their owners, the enterprises as such cannot engage in transactions with other economic units nor can they enter into contractual relationships with other units nor incur liabilities on their own behalf; in addition, their owners are personally liable, without limit, for any debts or obligations incurred in the course of production. An unincorporated enterprise represents the production activity of a government unit, non-profit Institutions serving households or household that cannot be treated as the production activity of a quasi-corporation. Unincorporated enterprises are not institutional units.

See also: Establishment, Corporation; Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547
 
Reference: Satellite account on non-profit and volunteering 1997-2007, Catalogue no. 13-015

Source: System of National Accounts 2008, paragraph 5.1

French: Entreprise non constituée en société
Unit See institutional unit.
 
Source: Guide to the public sector of Canada, Catalogue no. 12-589

French: Unité
Unit capital cost Capital cost per unit of output.
 
Unit labour cost Labour cost per unit of output. It is equal to the ratio of labour compensation per hour worked to labour productivity. Unit labour cost increases when labour compensation per hour worked increases more rapidly than labour productivity. It is widely used to measure inflationary pressures arising from wage growth.
 
Unit labour cost in U.S. dollars The equivalent of the ratio of Canadian unit labour cost to the exchange rate. The latter corresponds to the United States dollar value expressed in Canadian dollars.
 
Unit non-labour payments The cost of non-labour items such as consumption of fixed capital, rental, interest, taxes on products, and taxes on production, in addition to corporate profits and profit-type income of proprietorships and partnerships.
 
Unit value See price.
 
Use of disposable income account The use of income account exists in two variants, the use of disposable income account and the use of adjusted disposable income account. The use of disposable income account has the balancing item, disposable income, from the secondary distribution of income account as a resource. The use of adjusted disposable income account has the balancing item, adjusted disposable income, from the redistribution of income in kind account as a resource. Both accounts show how, for those sectors that undertake final consumption (that is, government, non-profit institutions serving households, and households), disposable income or adjusted disposable income is allocated between final consumption and saving. In addition, both variants of the use of income account include, for households and for pension funds, an adjustment item for the change in pension entitlements which relates to the way transactions between households and pension funds are recorded in the System of National Accounts.
 
Component of: Sequence of accounts

Source: System of National Accounts 2008, paragraph 2.101

French: Compte d'utilisation du revenu disponible
Use of income account Shows how households, government units, and non-profit institutions serving households allocate their disposable income between final consumption and saving.
 
Source: System of National Accounts 2008, paragraph 9.1

Notes: Introduced with the Canadian System of National Accounts 2012 historical revision.

French: Compte d'utilisation du revenu
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