Human resource is as an important an asset as is any other asset in any organization. Human Resource Accounting refers to the procedure of classifying and recording the investments made on the available human resource of any organization that went unaccounted in the old-fashioned accounting practises. This helps the organizations to meticulously arrange their available assets.
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Functions of human resource accounting:
This serves numerous purposes such as:
There are two approaches to handle human resource accounting, the options being: cost approach and value approach. Manuals as human resource accounting homework answers are of great help.
How to approach these concepts?
Below is a brief description of both the approaches:
This is the only method dedicated to sound accounting principles and policies.It calculates the organizational investment in employees based on recruiting, attaining, official training and familiarization, casual training and familiarization, and development.
Under this approach, there is an acquisition cost model and a replacement cost model. The limitation to this approach is that it emphasizes on the present cost to the organization rather than the significance of the employee to the organization.
This approach emphasizes on the future value that every individual employee can bring by hiring today. It asserts on the present value of future earnings. It stresses on the value that employeesâ€™ future contribution,to the organization,is worth today.
The shortcoming to this approach is as future value brought forth is completely intangible, so itâ€™s hard to quantify the value that would be incoming by employees today.
Benefits and drawbacks of this system:
As for any entity, or an approach, in this world; there are benefits and limitations associated to the Human Resource Accounting. A few of them are discussed below:
Benefits of Human Resource Accounting:
This approach helps an organization to achieve its objectives in the following manner.
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Limitations of Human Resource Accounting:
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Why professional help is required?
Taking professional assistance when it comes to solve homework on human resource accounting could be an intelligent alternative. This gets the students to learn more about the organizational behavior and to tackle real-life human resource accounting problems. Academic cognizance would restrict the students to learn a limited amount of human behavior.
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Ashuman resource accounting homework deals a lot with theoretical knowledge and the academic knowledge lacks in providing industry related data, it becomes unusually important to take assistance to score better grades. The assists available can equip the students with industry exposed solutions to handle matters of human resource accounting.
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As human intervention cannot be neglected in any organization in order to achieve the organizational objectives- regardless of automation and the implementation of AI in day-to-day work- therefore, it is imperative for students to neglect such a crucial subject.
The homework helps available can enable the students to gain industry-oriented approach even while solving academic problems. This helps the students to gain the necessary managerial perspectives while securing good grades and GPAs. Get yourself the human resource accounting homework answers manual now!