Australian Bureau of Statistics

Rate this page
ABS Home > Statistics > By Release Date
ABS @ Facebook ABS @ Twitter ABS RSS ABS Email notification service
1218.0 - Standard Economic Sector Classifications of Australia (SESCA), 2002  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 13/09/2002   
   Page tools: Print Print Page RSS Feed RSS Bookmark and Share Search this Product  
Contents >> Chapter 2: The units that are classified >> International standards for institutional units

International standards for institutional units

2.4. As noted in Chapter 1, the ABS bases its sector classifications on the international standards set out in SNA93. Unless otherwise indicated, all of the SNA93 concepts described in this chapter are applied by the ABS. The basic SNA93 unit that is classified by sector is the institutional unit, which is defined as 'an economic entity that is capable, in its own right, of owning assets, incurring liabilities and engaging in economic activities and in transactions with other entities'. (SNA93, paragraph. 4.2.)

2.5. An institutional unit can therefore be described as a unit that is:

  • able to own or exchange goods and assets in its own right
  • able to make economic decisions and engage in economic activities for which it is held directly responsible and accountable at law
  • able to enter into contracts and incur liabilities on its own behalf
  • able to compile a complete set of accounts, including a statement of financial position.

2.6. ABS economic statistics use a number of types of statistical units. These are included in a units model described in the last section of this chapter. The units model includes a legal entity unit, which closely resembles the SNA93 institutional unit. The relationship between the legal entity unit and the institutional unit is discussed in paragraph 2.55.

2.7. SNA93 recognises two main broad types of institutional units:
  • households
  • legal or social entities

and then splits the second type into a number of different kinds of entities.

Previous PageNext Page

Bookmark and Share. Opens in a new window

Commonwealth of Australia 2016

Unless otherwise noted, content on this website is licensed under a Creative Commons Attribution 2.5 Australia Licence together with any terms, conditions and exclusions as set out in the website Copyright notice. For permission to do anything beyond the scope of this licence and copyright terms contact us.