International Research journal of Management Science and Technology
ISSN 2250 - 1959 (online) ISSN 2348 - 9367 (Print) New DOI : 10.32804/IRJMST
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ROLE OF HUMAN RESOURCE ACCOUNTING IN THE PRESENT GLOBALIZATION SCENARIO
1 Author(s): PRIYA
Vol - 5, Issue- 12 , Page(s) : 62 - 65 (2014 ) DOI : https://doi.org/10.32804/IRJMST
Abstract: - The quality and caliber of the people working in an organisation are the real assets for a firm. An enterprise with incompetent people will fail sooner or later but on the other hand competent persons can take the unit ahead, even out of adverse environment. When Henry Fajol, french management writer, took over the charge of his company, it was on the verge of bankruptcy. His managerial ability made the company successful in a short span of time. Human resource has never been properly valued. Rather it was not treated as an asset. The amounts paid as wages and salaries were treated as revenue expenditure and no effort was made to find out the cost on hiring, trainig and developing and human beings. An effort is being made in western countries to treat expenditure on human resource as an asset.Basically; human resource accounting is a management tool which is designed to assist senior management in understanding the long term cost and benefit implications of their human resource decisions so that better business decision can be taken. If such accounting is not done the management runs the risk of taking decisions that may improve profits in the short run but also have severe repercussion in future. The basic objective of the paper is to study the human resource accounting practices to identify the issue and challenges.