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Human resource accounting (1)

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Human resource accounting (1)

  1. 1. Submitted By :Gaurav ( 12020241078)Isha Gupta ( 12020241079)
  2. 2. Contents  Introduction Objectives of HRA Importance of HRA Limitations Cost of Human Resources Measurements in HRA Cost Approach
  3. 3. Introduction  Process of identifying and measuring data about human resources and communicating this information to interested parties Quantification of the economic value of the people in an organization Measurement and reporting of the cost and value of people in organizational resources : Flamholtz Art of valuing, recording and presenting systematically the worth of human resources in the books of account of an organization
  4. 4. Contd… 1. Valuation of human resources2. Recording the valuation in the books of account3. Disclosure of the information in the financial statements of the business
  5. 5. Objectives  Improve management by analyzing investment in HR Consider people as its asset Attract and retain qualified people Profile the organization in financial terms To have an analysis of the human asset To aid in the development of management principles, and proper decision making for the future
  6. 6. Importance of HRA  Furnishes cost/value information for making management decisions about acquiring, allocating, developing, and maintaining human resources in order to attain cost-effectiveness Helps the management in the employment, locating and utilization of human resources Helps in deciding the transfers, promotion, training and retrenchment of human resources Assists in evaluating the expenditure incurred for imparting further education and training in employees in terms of the benefits derived by the firm
  7. 7. Contd…  Management tool designed to assist senior management in understanding the long term cost and benefit implications of their HR decisions Helps in identifying the causes of high labour turnover at various levels and taking preventive measures to contain it Helps in identifying improper or under-utilization of physical assets or human resource or both Provides valuable information for persons interested in making long term investment in the firm
  8. 8. Limitations  No specific procedure for finding cost and value of human resources of an organization Form and manner of including HRA value in the financial statement is not clear Employee with a comparatively low value may feel discouraged Tax laws do not recognize human beings as assets
  9. 9. Training (Development) Welfare Cost cost -Medical Expenditure -Formal Training Cost -Canteen Expenditure -On the Job Training Cost -Specific and General Allowances -Special Training -Children Welfare Expenses -Development Programmes -Other Welfare Expenditure Acquisition cost Other Costs -Safety Expenditure-Recruitment Cost -Ex-gratia-Selection Cost -Multi-trade incentives-Placement Cost-Campus Interview Cost Cost of -Rewarding Suggestions Human Resources
  10. 10. Measurements in HRA Cost based approaches:•Historical Cost•Replacement Cost•Opportunity Cost•Standard CostMonetary value based approaches:•The Lev and Schwartz Model (Present value of future earnings method)•The Eric Flamholtz Model (Reward Valuation method)•Morse Model (Net Benefit Model)Non- monetary value -based approaches:•Likert Model•The Flamholtz Model•Ogan Model (Certainity Equivalent Net Benefit Model)
  11. 11. COST APPROACH CostIt is a sacrifice incurred to obtain some anticipatedbenefit or serviceTwo portions :ExpenseAsset
  12. 12. Types of Cost  Historical costSacrifice that was made to acquire and develop theresource Opportunity costMoney to be spent on HR was spent on something else Replacement costCost incurred in the replacement of present employees

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