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A review of SISCA was recently completed and involved both user feedback on the 1987 SISCA, and incorporated the relevant recommendations from the 1993 System of National Accounts (SNA93), and the fifth edition of the Balance of Payments Manual (BPM5).
Purpose of the classification
The main purpose of SISCA is to classify transactors of the national income and outlay account and the national capital account into sectors, according to differences in their financial role and behaviour. This is done to facilitate the provision and analysis of sectoral statistics on the sources and uses of disposable incomes and capital funds.
Units of the SISCA
SISCA is a classification of institutional units which are the owning and decision-making entities. An institutional unit is 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. There are two main types of institutional units - households and legal or social entities, of which there are three types, corporations, government units and non-profit institutions. SISCA applies to resident units ie. institutional units which have a centre of economic interest in the economic territory of a country.
Structure of the classification