HUMAN RESOURCE VALUATION, ACCOUNTING, AND AUDIT
A resource is defined as an object which can provide expected future services. Hence, objects which do not have expected future service potential cannot by definition, be resources. People being capable of rendering future services, such potential services constitute a form of capital. Human Resource Accounting (HRA) is the process of identifying, measuring, and communicating data about human resources. Flamhoitz (1974) defined HRA as ‘Accounting for people as an organizational resource. It involves measuring the costs incurred by business firms and other organizations to recruit, select, hire, train and develop human assets. It also involves measuring the economic value of people to the organization’. ...
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