Value added

Value added is the combined value added generated by different production factors in the actual production activities of the enterprise or establishment. Value added is the difference between income from production activities and the costs arising from the activities. According to the definition, costs arising from the personnel of the enterprise/establishment are not included in the costs.

Formula to calculate value added:
Turnover
+ change in inventory of finished products
+ production for own use
+ other operating income
- purchases of materials and supplies
+ change in merchandise inventories
- external services
- other operating expenses
= VALUE ADDED

In addition, deliveries for use in the enterprise's other establishments and purchases from the enterprise's other establishments are added to the value added of establishments.

The value added of enterprises engaged in financial and insurance activities (TOL K) was calculated depending on the industry with the following formulas, in case the enterprise used the financial statement formulas of financial and insurance activities:

The value added of industry 6411 Central banking is calculated as the sum of operating expenses and net expenses from fees and payments from which administrative costs and banknote acquisition costs have been subtracted.

The turnover of industries 6419 Other monetary intermediation and 649 Other financial service activities, except insurance and pension funding was calculated with the formula Interest receivable and similar income - Interest payable and similar charges + Commissions receivable + Income from shares and other variable-yield securities + Net profit or net loss on financial operations - Other administrative costs - Commissions payable - Other operating expenses.

The value added of industry 65 Insurance was calculated as the sum of income from insurance activities (incl. change in provision for unearned premiums) and income from investment activities less expenses from investment activities, insurance costs and operating expenses.

The turnover of industry 66 Activities auxiliary to financial services and insurance activities was calculated with the formula Interest receivable and similar income - Interest payable and similar charges + Commissions receivable + Income from shares and other variable-yield securities + Net profit or net loss on financial operations - Other administrative costs - Commissions payable - Other operating expenses.