Net authorized retained surplus 68 356 68 356

The net reserve as at 31 December 2004 amounts to 3,650,469 ( 3,133,155 at 31 December 2003) as a result of a net surplus of 517,313 for 2004.

While as a group they have remained net importers, their travel balance has shown a surplus owing to the development of tourism.

Refunds of expenditures charged to prior financial periods, net gains on exchange and proceeds from the sale of surplus property, are credited to miscellaneous income.

Sales promotional activities and other costs charged to the sales publications revolving fund of 26,576 resulted in a net surplus for the year 2004 of 11,152.

Subsequently, under the terms of resolution 58 307 of 18 June 2004, the authorized retained surplus was further reduced by 63,312,709 representing the net accumulated surplus in the account of the Force from 1978 to 1993, leaving a balance of 19,565,240 as at 30 June 2005.

(h) Surplus

Surplus extraction.

Deficit (surplus)

Cumulative surplus

Share of surplus

Difference (surplus deficit)

America s net exports will have to increase, meaning that the net exports of China, Japan, and other surplus countries will consequently decrease. The adjustments needed amount to a sizeable deficit to balance swing of around 700 billion in the US current account, or nearly 5 of US GNP.

China s Shrinking Trade Surplus

Provided from surplus stock

Provided from surplus stock

Provided through surplus stock

Surplus (deficit) for period

Unallocated surplus (statement XXI)

Valuation results surplus (deficit)

Refunds of expenditures charged to prior financial periods, net gains on exchange, moneys accepted for which no purpose is specified and proceeds from the sale of surplus property, are credited to miscellaneous income.

I call it cognitive surplus.

(p) Surplus due to Member States

At the same time, fiscal adjustment remains essential to Italy s short and long term stability. According to the International Monetary Fund, the budget deficit is declining, and the primary surplus (net revenues minus interest payments) is growing.

(vii) Miscellaneous income includes sale of used or surplus property, refunds of expenditures charged to prior periods, income resulting from net gains in currency transactions, monies accepted for which no purpose was specified and other sundry income

Net pension Net pensionable salary is that part of net salary that is used to derive the gross pensionable salary. Net pensionable salary is the total net salary less the

As long as China was running a trade surplus and receiving net inflows of foreign direct investment, the RMB remained under upward pressure. Short term capital flows had little impact on the direction of the RMB s exchange rate.

Together with the surpluses of Austria, the Netherlands, and most non eurozone northern countries namely, Switzerland, Sweden, Denmark, and Norway northern Europe has run a current account surplus of 511 billion over the last 12 months. That is larger than the Chinese surplus has ever been and scary because it subtracts net demand from the rest of Europe and the world economy.

That's the second half of cognitive surplus.

Both of these rely on cognitive surplus.

(b) Surplus deficit position of the fund

3. Operating surplus (1 2) Annex III

e To be provided through surplus stock.

Total cumulative surplus 89 646 (14 983)

Net

net

net

When all of these reforms are realized, China s national saving rate may be reduced to 45 , from 51 currently. That will have a very significant effect in terms of reducing the current account surplus, which reflects net national savings.

In the case of Aetna, the amounts transferred represent the difference between collections and reimbursements to Aetna under the split funded plans when the net surplus (deficit) of the plan is determined at the end of each policy year.

Total net Total net remuneration is the sum of the non pensionable component and the net pensionable salary.

Total net Total net remuneration is the sum of the non pensionable component and the net pensionable salary.

Net pensionable salary is the total net salary less the

Cognitive surplus is made up of two things.

Europe almost doubled its surplus in 2000 2003.

Any surplus would be classified as miscellaneous income.