HUMAN RESOURCE ACCOUNTING (HRA) PRACTICES IN INDIA
Success of corporate undertakings purely depends upon the quality of human resources. It is accentuated that; Human element is the most important input in any corporate enterprise. The investments directed to raise knowledge; skills and aptitudes of the work force of the organization are the investments in human resource. In this context, it is worth while to examine and human resource accounting practices in corporate sector in India.
Human resource accounting is of recent origin and is struggling for acceptance.It is clearly said that, Human resources accounting is an accounting measurement system and a large body of literature has been published in the last decade setting for the various procedures for measurement.? At the same time the theory and underlying concepts of accounting measurement have received sizeable attention from academics and a substantial body of literature has developed. The conventional accountings of human
resources are not recognized as physical or financial assets.?
? Though Human Resources Accounting was introduced way back in the 1980s, it started gaining popularity in India after it was adopted and popularized by NLC. Human Resources accounting, also known as Human Asset Accounting, involved identifying, measuring, capturing, tracking and analyzing the potential of the human resources of a company and communicating the resultant information to the stakeholders of the company.? It was a method by which a cost was assigned to every employee when recruited, and the value that the employee would generate in the future.? Human Resource accounting reflected the potential of the human resources of an organization in monetary terms, in its financial statements.
Even though the situation prevails, yet, a growing trend towards the measurement and reporting of human resources particularly in public sector is noticeable during the past few years.? BHEL, Cement Corporation of India,?
Source: http://nyessay.com/uncategorized/human-resourse-accounting-how-affect-to-business/
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