Replacement Fund

Replacement Fund

 

the part of the total social product used to replace consumed means of production. In a physical sense, the replacement fund comprises the equipment, tools, and materials used by labor. In value terms, it is embodied labor in the form of the amortization fund and the value of the circulating productive capital used to replace the materials consumed in the production process. The other part of the total social product, the part remaining after expenditures for replacement have been made, constitutes the national income.

With advances in science and technology and increases in the productivity of labor, it becomes possible to use the replacement fund as a resource not only for simple replacement but also for accumulation (investment). In 1975 the replacement fund accounted for 57.9 percent of the total social product in the USSR.

P. V. TAL’MINA

References in periodicals archive ?
You could create your own replacement fund with money saved by avoiding this cover.
Through a culmination of six years of financial planning, the park district has achieved an operating budget that generates greater revenue than expenses, established and met the requirements of a sensible fund balance policy, created an asset replacement fund, developed an ambitious Ackerman Sports & Fitness Center business plan and resolved the Ackerman roof predicament.
One of the key elements of a service charge should be a contribution to a reserve fund, sometimes called a sinking fund or a capital lifecycle replacement fund.
However, it is permissible to invest the proceeds in a different fund, even if the replacement fund is in the same subcategory.
Proceeds go to a replacement fund that helps offset the cost to buy replacement vehicles.
The Pakistanis have noted that the Coalition Support Fund that the US uses to reimburse Pakistan for its efforts would expire after the US withdrawal from Afghanistan and Islamabad seeks the establishment of a replacement fund.
During the 1990s and into the current decade, Waukesha County, Wisconsin, developed a vehicle equipment replacement fund, parks and highway pavement management programs, and other funding mechanisms to stabilize future budgets.
Therefore the onus falls on the advisor to be vigilant about understanding the potential pitfalls of each income replacement fund offering.
As well as holding sponsored events, we would also appeal to former cadets and friends of the squadron or anyone else who may be willing to make a donation to our minibus replacement fund to come forward in order to help to get the Nuneaton-based Royal Air Force Air Cadets back on the road.

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