The UN System of National Accounts developed in the 1950s expanded the national system of financial statistics to include balance sheet indicators.

This was an important improvement of the expanded trade statistics that were previously used ... but the data available for most developing countries is still very limited and also very late. While the data are weak, the willingness of the international institutions to substitute estimates for actuals is problematic at best, and might have contributed directly to some development failure.

Some of the key concepts that are included in the UN System of National Accounts are also embraced by TVM, notably the idea of a balance sheet.

The balance sheet is a key concept in accountancy and in TVM ... but at the community level becomes very understandable and a very simple way of measuring progress. Balance sheet analysis used at the community level provides tangible metrics about progress and specific lessons may be learned.

TVM is to the community what the system of national accounts can be to a nation. Unlike National Accounts, the TVM system is at a level where people and organizations may be held accountable.