Document ID: chunk:federal_register_of_legislation:F2015L01998:body:0:p14
Version: federal_register_of_legislation:F2015L01998
Segment Type: other
Provision Reference: 
Character Range: 42281–46284

that represent beneficial interest or economic ownership in a trust.

Other financial assets  Represents all other financial assets that are not classified elsewhere.

                        Financial assets are mostly financial claims. Financial claims entitle the owner to receive a payment, or a series of payments, from an institutional unit to which the owner has provided funds. Shares are treated as financial assets even though the financial claim their holders have on the corporation is not a fixed or predetermined monetary amount.

Non-financial assets    Represents assets for which no corresponding liabilities are recorded.

Institutional units and sectoral classifications

In national accounting, institutional sectors are intrinsically different from each other in that their economic objectives, functions and behaviour are different. Institutional units are allocated to a sector according to the nature of the economic activities they undertake.

Institutional sectors and associated classifications used in the ABS financial statistics are described in Standard Economic Sector Classifications of Australia (SESCA) (cat. no. 1218.0). The classifications included in SESCA are based on international standards, adapted to suit Australian situations where appropriate.

In the structure depicted below, each sector contains a number of subsectors distinguished according to a hierarchical structure. Each institutional unit belongs to only one subsector.

        Domestic/Resident
       * Non-financial corporations
                Private
         Private non-financial investment funds
         Other private non-financial corporations
                Public
          National
          State and local
       * Financial corporations
                Central Bank
                Depository corporations
         Banks
         Other depository corporations
                Pension funds and insurance corporations
         Pension funds
         Life insurance corporations
         Non-life insurance corporations
                Financial investment funds
          Money market funds (MMF)
          Non-MMF financial investment funds
                Central Borrowing Authorities
                Securitisers
                Other financial corporations
       * General government
                National
                State and local
       * Households

        Rest of world/Non-resident

Information provided in this section is to be used as a general guide for all data items where sectoral classifications are required. Refer to 'Residency' under 'Core principles' for more detail about residence. 'Residential institutional units' are further divided into sectors and subsectors.

Trading enterprises                                                  Represents enterprises whose main activity is the production of goods or non-financial services for sale at market prices. They may be listed on stock exchanges or unlisted.

Private trading enterprises                                          Represents trading enterprises that are owned and controlled by the private (non-government) sector.

                                                                     Includes: intra-group financiers for groups of trading enterprises; trading enterprises which are the Australian-based branches of foreign companies; partnerships of trading companies and unincorporated joint ventures engaged in trading activities.

                                                                     Excludes: unincorporated businesses except those mentioned above; companies providing financial services to the public such as banks and insurance companies; property and infrastructure trusts.

Trading enterprises owned by the Australian Commonwealth government  Represents trading enterprises that are owned and controlled by the Australian Commonwealth government.

                                                                     Includes: Australia