Human resource accounting is not a new issue in economics.
Moreover, the development of human resource accounting is necessary to provide a firm with accurate financial reports to guide its decisions .
Part 2 looks at nontraditional concepts, with chapters on human resource analytics and human resource accounting
. Biswas teaches accounting and finance at DeVry University.
* The nature and quality of financial information presented in the annual report factored in key considerations such as adequacy of revenues/expenses details, use and proper cross referencing of schedules, ease of referencing, utilization of charts and graphs, clarity, lucidity and comprehensiveness of the financial statements from an individual/small shareholder's view point, extent of comparative data in terms of financial highlights & ratios and provision of additional information such as human resource accounting
, inflation adjusted accounting, social responsibility etc
The roles of personnel research, human resource accounting
(HRA), and human resource information system (HRIS) are also explained in the Control section.
Human capital measurement grew out of a science developed in the 1960s called human resource accounting. Among the thinkers who established this new field are Rensis Likert, Theodore Schultz, and Eric Flamholtz.
Some initial human resource accounting work was performed on behalf of a few forward-thinking organizations in the late 1970s but the movement then stalled.
As a result, the EC proposed a Human Resource Accounting
(1) approach, an approach that treated training investments in the same way as other capital investments on the balance sheet.
The author might have made a more substantial contribution if he had reviewed and integrated with greater scope and depth the emerging and re-emerging concepts and methodologies suggested by firm-specific human capital theory, productivity analysis, human resource accounting
, and utility analysis as discussed by psychometricians.