• Human Resource Accounting

    Posted on Aug.25, 2009, under Human Resource Management
    For any organization we can say that employees are the most important assets. But they never considered in reflections of balance sheets of organization. Human assets may not be considered as own unlike physical assets. Therefore human resources were not considered amendable to financial reports. Human resource accounting may be referred to as a process of identifying measuring and communicating information about human assets in financial terms to aid human resource planning and control. Human resources always subject to improvement of quality and most of the organizations spend a lot of time, efforts and money to maintain that. They does this by means of training, development, performance appraisal, counseling, career planning and various employee benefits. The most human resource investments used to made based on faith, philosophy or compulsion earlier. But later cost conscious started spreading to human resource function too. Now human resource systems are changed and are also able to rate the performance of the employee. Changes in the human resource values indicate the changes in trends of employee turnover. Such changes prompt organization to relook at cost of hiring, pay and benefit programs and leadership styles.

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