Gross Value Added (GVA) is a measure in economics of the value of goods and services produced in an area, industry or sector of an economy. In national accounts GVA is output minus intermediate consumption^[1]; it is a balancing item of the national accounts' production account^[2].

Relationship to Gross Domestic Product[link]

GVA is linked as a measurement to Gross Domestic Product (GDP), as both are measures of output. The relationship is defined as:

GVA + taxes on products - subsidies on products = GDP

As the total aggregates of taxes on products and subsidies on products are only available at whole economy level,^[3] Gross Value Added is used for measuring Gross regional domestic product and other measures of the output of entities smaller than a whole economy.

See also[link]

• National accounts
• Measures of national income and output
• Gross domestic product
• Gross regional domestic product
• Value added
• Gross profit

References[link]

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In economics, the difference between the sale price and the production cost of a product is the value added per unit. Summing value added per unit over all units sold is total value added. Total value added is equivalent to Revenue less Outside Purchases (of materials and services). Value Added is a higher portion of Revenue for integrated companies, e.g., manufacturing companies, and a lower portion of Revenue for less integrated companies, e.g., retail companies. Total value added is very closely approximated by Total Labor Expense (including wages, salaries, and benefits) plus "Cash" Operating Profit (defined as Operating Profit plus Depreciation Expense, i.e., Operating Profit before Depreciation). The first component (Total Labor Expense) is a return to labor and the second component (Operating Profit before Depreciation) is a return to capital (including capital goods, land, and other property). In national accounts used in macroeconomics, it refers to the contribution of the factors of production, i.e., land, labour, and capital goods, to raising the value of a product and corresponds to the incomes received by the owners of these factors. The national value added is shared between capital and labor (as the factors of production), and this sharing gives rise to issues of distribution.

Outside of economics, value added refers to "extra" feature(s) of an item of interest (product, service, person etc.) that go beyond the standard expectations and provide something "more" while adding little or nothing to its cost.^{[citation needed]} Value-added features give competitive edges to companies with otherwise more expensive products.

National accounts[link]

The factors of production provide "services" which raise the unit price of a product (X) relative to the cost per unit of intermediate goods used up in the production of X.

In national accounts such as the United Nations System of National Accounts (UNSNA) or the United States National Income and Product Accounts (NIPA), gross value added is obtained by deducting intermediate consumption from gross output. Thus gross value added is equal to net output. Net value added is obtained by deducting consumption of fixed capital (or depreciation charges) from gross value added. Net value added therefore equals gross wages, pre-tax profits net of depreciation, and indirect taxes less subsidies.

Marxist interpretation[link]

Karl Marx's concept of the value product is similar to the national accounting concept of net national product, or net value added, since it is the value of the gross product minus expenditure on constant capital, where the latter refers to the costs of intermediate products and depreciation. In turn, value added is equal to the sum of variable capital (labor's compensation) and surplus-value (pre-tax profit income). The argument is that labor creates a new value (value added) that covers the cost of both its own wages (payment for workers' ability to do labor, i.e. for their labor power) and surplus-value (property income). In Marx's example in his Das Kapital, workers exert enough labor-time during a working day to pay for the cost of reproducing their ability to work during that day (their labor-power) and then did extra work (surplus-labor) to pay incomes to capitalists, land-owners, and the like. As labor is the active and conscious factor in the production process, capital goods ("means of production") and gifts from nature ("land," natural resources) only facilitate labor's transformation of raw materials into other products, raising labor's physical productivity (its ability to produce use-values) and its value-productivity (its ability to produce use-values that can be sold for money).

In contrast, Neoclassical economics regards the incomes constituting added value as the reward for services rendered. In his critique of political economy, Marx saw incomes as results of production under conditions of capitalist exploitation. The capitalist class control over the production process and the growth of the economy (capital accumulation) gives them the power to claim the benefits of the extra labor done by the workforce. This is enforced by the normal existence of mass unemployment, what Marx called the "reserve army of labor."

Differences between Marxist and neo-classical accounting of value added[link]

A difference between Marxist theory and conventional national accounts concerns the interpretation of the distinction between new value created, transfers of value and conserved value, and of the definition of "production".

For example, Marxist theory regards the "imputed rental value of owner-occupied housing" which is included in GDP as a fictitious entry; if the housing is owner-occupied, this housing cannot also yield real income from its market-based rental value at the same time.

In the 1993 manual of the United Nations System of National Accounts (UNSNA), the concept of "imputed rental value of owner occupied housing" is explained as follows:

"6.89. Heads of household who own the dwellings which the households occupy are formally treated as owners of unincorporated enterprises that produce housing services consumed by those same households. As well-organized markets for rented housing exist in most countries, the output of own-account housing services can be valued using the prices of the same kinds of services sold on the market in line with the general valuation rules adopted for goods or services produced on own account. In other words, the output of the housing services produced by owner-occupiers is valued at the estimated rental that a tenant would pay for the same accommodation, taking into account factors such as location, neighbourhood amenities, etc. as well as the size and quality of the dwelling itself. The same figure is recorded under household final consumption expenditures."

Marxist economists object to this accounting procedure on the ground that the monetary imputation made refers to a flow of income which does not exist, because most home owners do not rent out their homes if they are living in them.

Another important difference concerns the treatment of property rents, land rents and real estate rents. In the Marxian interpretation, many of these rents, insofar as they are paid out of the sales of current output of production, constitute part of the new value created and part of the real cost structure of production. They should therefore be included in the valuation of the net product. This contrasts with the conventional national accounting procedure, where many property rents are excluded from new value-added and net product on the ground that they do not reflect a productive contribution.

Value added tax[link]

Value added tax (VAT) is a tax on sales. It works by being charged on the sale price of new goods and services, whether purchased by intermediate or final consumers. However, intermediate consumers may reclaim VAT paid on their inputs, so that the net VAT is based on the value added by producing this good or service.

See also[link]

• Added value
• Gross output
• Gross value added
• Intermediate consumption
• Economic value added
• National accounts
• Measures of national income and output‎#The output approach
• Productive and unproductive labour
• Unproductive labour in economic theory
• Surplus-value
• United Nations System of National Accounts (UNSNA)
• Value (marketing)
• Value-added theory
• Value-added reseller
• Value product

References[link]

• Alan Deardorff Deardorff's Glossary of International Economics (Click V for "Value added.")

• Edgar Z. Palmer, The meaning and measurement of the national income, and of other social accounting aggregates.
• Paul A. Samuelson and William D. Nordhaus (2004) Economics. "Glossary of Terms," Value added.
• Anwar Shaikh & Ahmet Ertugrul Tonak, Measuring the Wealth of Nations. CUP.
• M. Yanovsky, Anatomy of Social Accounting Systems.

External links[link]

• What Does Value Add Mean?
• Value Add - Your Value Add is what Matters to Your Company
• Information and best practices of regional value added in the Alps

Paul Gross
Gross at the 2008 Toronto International Film Festival
Born	Paul Michael Gross (1959-04-30) April 30, 1959 (age 53) Calgary, Alberta, Canada
Occupation	Actor Producer Screenwriter Composer Director
Years active	1985-present
Spouse	Martha Burns (1988 - present)
Website
http://www.paulgross.org

Paul Michael Gross (born April 30, 1959)^[1] is a Canadian actor, producer, director, singer and writer born in Calgary, Alberta. He is known for his lead role as Constable Benton Fraser in the television series Due South as well as his 2008 war film Passchendaele, which he wrote, produced, directed, and starred in. During Due South's final season, Gross acted as executive producer in addition to starring, wrote the season three opener and finale, the two part series finale and wrote and sang for the show, some of which can be found on the two Due South soundtracks. He later found success with another Canadian TV series, Slings and Arrows. He also produced one film with Akshay Kumar called Speedy Singhs starting Camilla Belle and Vinay Virmani.^[2]

Gross studied acting at the University of Alberta in Edmonton, but he left during the third year of his study.^[3] He went back later to complete the half-credit needed to receive his fine arts degree. He appeared in several stage productions, such as Hamlet and Romeo and Juliet.^[4] Other productions in which he appeared include Observe the Sons of Ulster Marching Towards the Somme and As You Like It.^[4]

After the play Successful Strangers, Gross starred in his first movie, Turning to Stone. From September 16, 2011, he has been appearing in a production of Noël Coward's Private Lives in Toronto co-starring Kim Cattrall (to end October 30, 2011);^[5] the production will then move to Broadway where it will open November 6, 2011.^{[6][dated info]}

Personal life[link]

Gross married Canadian actress Martha Burns in September 1988; the couple have two children.

[edit] Due South

His role as upright Mountie Benton Fraser in the Due South television series brought him increased recognition. Like fellow actor David Marciano, he didn't want to do the show at first, and creator Paul Haggis didn't even know if he wanted Gross for the role, but following a meeting, Constable Benton Fraser was cast.^[7]

When Due South was resurrected for the third season, Gross returned as Benton Fraser and assumed duties as Executive Producer and writer. He earned an estimated salary of $2–3 million per season, and at the time was the highest paid performer in Canadian entertainment history.^{[citation needed]} He wrote several episodes of the last season of the series. His favourite episodes include "Gift of the Wheelman" and "All the Queen's Horses," and his episodes "Mountie on the Bounty" and "Call of the Wild" are of a similar style.^[7]

Theatre[link]

Filmography[link]

Films[link]

Television series[link]

Awards[link]

Discography[link]

Albums[link]

Singles[link]

References[link]

External links[link]

• Paul Gross at The Canadian Encyclopedia
• Paul Gross at the Internet Movie Database
• Paul Gross at AllRovi
• Watch Remembrance, a vignette on Paul Gross for his Governor General's Performing Arts Award.
• Paul Gross at Tv.com
• PaulGross.org
• Paul Gross at Northern Stars

This biographical article needs additional citations for verification. Please help by adding reliable sources. Contentious material about living persons that is unsourced or poorly sourced must be removed immediately, especially if potentially libelous or harmful. (November 2009)

Todd Gross is a meteorologist.^[1]. Known best for his years as a Boston meteorologist, Gross started at WNEV-TV (the present day WHDH-TV) in 1984 as a weekend meteorologist and science reporter. In that same year, he broadened and formalized the use of weather spotters on the air and introduced the "sunburn index" (UV index) to the Boston area. In 1988, Gross was promoted to meteorologist for WNEV-TV's morning and weekday noon newscasts. He also appeared on the children's show Ready to Go. In 1994, Gross brought weather to the Internet through webpages, such as WeatherMan.com, Internet Chat, and Weather-watcher networks.

In August 2002, Gross was promoted to chief meteorologist at WHDH, replacing veteran Harvey Leonard who left Channel 7 for WCVB-TV. He remained in that role until December 2005.^[1]

Before his start at WNEV/WHDH-TV, Gross worked for two years as chief meteorologist for the 6 and 11 PM weekday newscasts at WNYT in Albany, New York. Afterward, he worked briefly as a meteorologist for the Satellite News Channel in Stamford, Connecticut.

Gross was known in the Boston-area for his on-air use of actual forecasting graphics, including isobars. He also uses and works into his weathercasts astronomic terminology, such as the term "Indian Moon."

Todd currently is back in Massachusetts doing voice overs and video on the web. Todd's also doing the weather for snow contractors and providing updates on his website www.toddgross.com He was an active on-air television and radio meteorologist at KTVX ABC4 in Salt Lake City, Utah after leaving WHDH-TV) in Boston.

Other works[link]

Gross started the "Weather Spotter Network" program at WHDH-TV, a program which he has carried over to and expanded in his own independent forecast and education website. He is also an avid astronomer who is a published astro-photographer.

He was also the founder and chief meteorologist for the nationwide weather service, Compu-Weather, in New York City.

Gross played a prominent role in the forecasting of the 1991 Perfect Storm.^[2] He was played by actor Christopher McDonald in the film of the same name.

References[link]

External links[link]

• ToddGross.com