Page 65 - Contributed Paper Session (CPS) - Volume 6

CPS1499 Hayley Collett
Figure One: Australian Labour Account: Identity Relationship Diagram

Scope of the Australian Labour Account
Accounting conventions are necessary to define the scope and treatment
of activities that occur within the economy. The production and residency
conventions adopted in the Australian System of National Accounts are used
in the Australian Labour Account to determine the scope of activities covered,
and the size of the economy measured.
The scope of the Australian economy defined by these conventions
embraces the activities of all enterprises resident within Australia's economic
territory engaged in the production of goods and services, which fall within
the scope of the national accounts production boundary. The Australian
Labour Account relates to the employment of all persons in jobs created by
those enterprises. In this context, an enterprise is a productive undertaking
maintained and controlled by one or more households, corporations or
"quasi-corporations" that are resident in Australia's economic territory.
Enterprises include (for example):
 businesses operated by unincorporated self-employed trades persons,
 family operated farms,
 large corporations such as the major commercial banks and supermarket
chains,

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