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Employees are our most valuable assets.
Each organization need the capital to grow up and continue , human resource is the first capital
The value of each resource is important if we neglect one then others become useless so I will give credit to all resources which depends on each other. This is a chain circle which leads to success.
Offcourse Human Resources.
I beleive employee who play his role effectively is valuable resource in an organization
Human resources.
Technology may change, market may change, government may change but human resources are valuable to run the business in any condition.
Human resource is now recognised as the most important Investment in an Organisation. (A new concept of valuing human resource has emerged)
Human Resource Accounting is the process of identifying and measuring data about Human Resources and communicating this information to the interested parties. It is an attempt to identify and report the Investments made in Human Resources of an organisation that are currently not accounted for in the Conventional Accounting Practices.
Thus, HRA is a term applied by the Accountancy Profession to quantify the cost and value of employees of their employing organisation.
1. Cost of Human Resources i.e. the expenditure incurred for recruiting, staffing and training the Quality of the Employees and
2. Value of Human Resources i.e. the yield which the above investment can yield in the future.
The21st Century has been referred to as the Century of the Service Sector. All major expansion scope seems to be happening in the service sector and the scope of expansion of the manufacturing sector is minimal.
Benefits of Human Resource Accounting
The main benefits of Human Resource Accounting are:-
1. HR Accounting helps the company ascertain how much Investment it has made on its Employees and how much return it can expect from this Investment
2. The Ratio of Human Capital to Non-Human Capital computed as per the HR Accounting Concept indicates the degree of Labour Intensity of an Organisation.
3. HR Accounting provides a basis for planning of physical assets vis-a-vis Human Resources
4. HR Accounting provides valuable information to Investors interested in making Long Term Investments in Service Sector Companies
HR value first in any Organisation
Nodoubt about this employees , like i always believe that Once employees feel challenged, invigorated and productive, their efforts will naturally translate into profit and growth for the organisation
Human Resource is the most valuable resource in any organisation.
employee is the head of each company u can run it without manger but not without stuff
