Human Resources Accounting: Issues, Benefits and Challenges

Osemeke Monday

doi:doi:10.11648/j.ijefm.20170503.11

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Human Resources Accounting: Issues, Benefits and Challenges

Osemeke Monday

Published in International Journal of Economics, Finance and Management Sciences (Volume 5, Issue 3)

Received: 21 September 2016 Accepted: 14 January 2017 Published: 2 April 2017

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Abstract

The focus of this paper is on Human Resources Accounting which has not been properly integrated into the financial statement of various organizations and being regarded as assets. The main purpose of this study is to examine the issues involved in valuing human resource /people working in organizations, which has been regarded as the most valuable assets in business organizations, the benefits of attaching values and the challenges and obstacles of implementing the Human Resource accounting disclosures of such values in the firm’s statement of financial position. In the pursuit of the focus of this study the paper adopts exploratory and content analysis methods of secondary data. The paper reveals that the exponent of human resources valuation models in most cases have not dealt with the mode of recording and disclosure of the accounting information relating to human resources in the books of account or financial statements of the organization. In most cases, the human resource accounting information is given in the form of supplementary information attached to the financial statements. This is of great concern to accounting professionals and practitioners. The paper concludes that considerable research done is due to the increasing importance of human capital in the economy to develop the concepts and methods of valuing human resource that has been recognized as human resources accounting (HRA), and that there is a great need for evolving a system of accounting for human resource that is acceptable to professional accountants, mangers and other decision makers – investors, creditors and other stakeholders.

Published in	International Journal of Economics, Finance and Management Sciences (Volume 5, Issue 3)
DOI	10.11648/j.ijefm.20170503.11
Page(s)	129-138
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2017. Published by Science Publishing Group

Keywords

Human Resources (HR), Human Resources Accounting (HRA), Challenges

References

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Osemeke Monday. (2017). Human Resources Accounting: Issues, Benefits and Challenges. International Journal of Economics, Finance and Management Sciences, 5(3), 129-138. https://doi.org/10.11648/j.ijefm.20170503.11

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ACS Style

Osemeke Monday. Human Resources Accounting: Issues, Benefits and Challenges. Int. J. Econ. Finance Manag. Sci. 2017, 5(3), 129-138. doi: 10.11648/j.ijefm.20170503.11

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AMA Style

Osemeke Monday. Human Resources Accounting: Issues, Benefits and Challenges. Int J Econ Finance Manag Sci. 2017;5(3):129-138. doi: 10.11648/j.ijefm.20170503.11

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@article{10.11648/j.ijefm.20170503.11,
  author = {Osemeke Monday},
  title = {Human Resources Accounting: Issues, Benefits and Challenges},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {5},
  number = {3},
  pages = {129-138},
  doi = {10.11648/j.ijefm.20170503.11},
  url = {https://doi.org/10.11648/j.ijefm.20170503.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20170503.11},
  abstract = {The focus of this paper is on Human Resources Accounting which has not been properly integrated into the financial statement of various organizations and being regarded as assets. The main purpose of this study is to examine the issues involved in valuing human resource /people working in organizations, which has been regarded as the most valuable assets in business organizations, the benefits of attaching values and the challenges and obstacles of implementing the Human Resource accounting disclosures of such values in the firm’s statement of financial position. In the pursuit of the focus of this study the paper adopts exploratory and content analysis methods of secondary data. The paper reveals that the exponent of human resources valuation models in most cases have not dealt with the mode of recording and disclosure of the accounting information relating to human resources in the books of account or financial statements of the organization. In most cases, the human resource accounting information is given in the form of supplementary information attached to the financial statements. This is of great concern to accounting professionals and practitioners. The paper concludes that considerable research done is due to the increasing importance of human capital in the economy to develop the concepts and methods of valuing human resource that has been recognized as human resources accounting (HRA), and that there is a great need for evolving a system of accounting for human resource that is acceptable to professional accountants, mangers and other decision makers – investors, creditors and other stakeholders.},
 year = {2017}
}

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TY  - JOUR
T1  - Human Resources Accounting: Issues, Benefits and Challenges
AU  - Osemeke Monday
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VL  - 5
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Author Information

Osemeke Monday

Department of Business Administration, College of Management and Social Sciences, Samuel Adegboyega University, Ogwa, Nigeria

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APA Style

Osemeke Monday. (2017). Human Resources Accounting: Issues, Benefits and Challenges. International Journal of Economics, Finance and Management Sciences, 5(3), 129-138. https://doi.org/10.11648/j.ijefm.20170503.11

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ACS Style

Osemeke Monday. Human Resources Accounting: Issues, Benefits and Challenges. Int. J. Econ. Finance Manag. Sci. 2017, 5(3), 129-138. doi: 10.11648/j.ijefm.20170503.11

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AMA Style

Osemeke Monday. Human Resources Accounting: Issues, Benefits and Challenges. Int J Econ Finance Manag Sci. 2017;5(3):129-138. doi: 10.11648/j.ijefm.20170503.11

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@article{10.11648/j.ijefm.20170503.11,
  author = {Osemeke Monday},
  title = {Human Resources Accounting: Issues, Benefits and Challenges},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {5},
  number = {3},
  pages = {129-138},
  doi = {10.11648/j.ijefm.20170503.11},
  url = {https://doi.org/10.11648/j.ijefm.20170503.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20170503.11},
  abstract = {The focus of this paper is on Human Resources Accounting which has not been properly integrated into the financial statement of various organizations and being regarded as assets. The main purpose of this study is to examine the issues involved in valuing human resource /people working in organizations, which has been regarded as the most valuable assets in business organizations, the benefits of attaching values and the challenges and obstacles of implementing the Human Resource accounting disclosures of such values in the firm’s statement of financial position. In the pursuit of the focus of this study the paper adopts exploratory and content analysis methods of secondary data. The paper reveals that the exponent of human resources valuation models in most cases have not dealt with the mode of recording and disclosure of the accounting information relating to human resources in the books of account or financial statements of the organization. In most cases, the human resource accounting information is given in the form of supplementary information attached to the financial statements. This is of great concern to accounting professionals and practitioners. The paper concludes that considerable research done is due to the increasing importance of human capital in the economy to develop the concepts and methods of valuing human resource that has been recognized as human resources accounting (HRA), and that there is a great need for evolving a system of accounting for human resource that is acceptable to professional accountants, mangers and other decision makers – investors, creditors and other stakeholders.},
 year = {2017}
}

Copy | Download

TY  - JOUR
T1  - Human Resources Accounting: Issues, Benefits and Challenges
AU  - Osemeke Monday
Y1  - 2017/04/02
PY  - 2017
N1  - https://doi.org/10.11648/j.ijefm.20170503.11
DO  - 10.11648/j.ijefm.20170503.11
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 129
EP  - 138
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20170503.11
AB  - The focus of this paper is on Human Resources Accounting which has not been properly integrated into the financial statement of various organizations and being regarded as assets. The main purpose of this study is to examine the issues involved in valuing human resource /people working in organizations, which has been regarded as the most valuable assets in business organizations, the benefits of attaching values and the challenges and obstacles of implementing the Human Resource accounting disclosures of such values in the firm’s statement of financial position. In the pursuit of the focus of this study the paper adopts exploratory and content analysis methods of secondary data. The paper reveals that the exponent of human resources valuation models in most cases have not dealt with the mode of recording and disclosure of the accounting information relating to human resources in the books of account or financial statements of the organization. In most cases, the human resource accounting information is given in the form of supplementary information attached to the financial statements. This is of great concern to accounting professionals and practitioners. The paper concludes that considerable research done is due to the increasing importance of human capital in the economy to develop the concepts and methods of valuing human resource that has been recognized as human resources accounting (HRA), and that there is a great need for evolving a system of accounting for human resource that is acceptable to professional accountants, mangers and other decision makers – investors, creditors and other stakeholders.
VL  - 5
IS  - 3
ER  -

Copy | Download