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Chapter: Business Science - Human Resource Management - Perspectives in Human Resource Management

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Human Resource Accounting and Audit

Accounting for people as an organizational resource. It involves measuring the costs incurred by business firms and other organizations to recruit, select, hire, train and develop human assets. It involves measuring the economic value of people to the organization.

 Human  Resource  Accounting  &  Audit  –

Definition

 

―Accounting for people as an organizational resource. It involves measuring the costs incurred by business firms and other organizations to recruit, select, hire, train and develop human assets. It involves measuring the economic value of people to the organization.‖

 

 

Basic Information of HR

 

         Number of Employees

 

         Categories

 

         Grades

 

         Total Value of human resources

 

         Value per employee

 

HR Acquisition

 

Number of employees acquired during the year

 

         Cost of Acquisition

 

         Levels for which they were acquired

 

         HR Development

 

         All information pertaining to HRD activities of the organization

 

         HR maintenance

 

         Cost related to HR maintenance.

 

         HR Separation

 

         Cost related to HR Separation, attribution rate.

 

         Details of benefits provided to the employees

 

Various Methods:

 

Non- Monetary Measurement

Monetary Measurement

 

on- Monetary Measurement

 

        Capitalization of Historical Cost

 

        Replacement Cost Method

 

        Opportunity Cost method

 

        Economic Value Method

 

        Present Value Method

 

HR Accounting

 

        Developing skill inventory

 

        Performance Appraisal

 

        Assessing the individual capacity for development

 

        Attitude survey

 

        Subjective Appraisal

 

 


Human source Information System (HRIS)

 

Acquisition , storage and retrieval of information is a significant challenge to the management

 

•        Human Resource Information System is a systematic way of storing data and information for each individual employee to aid planning , decision making and submitting of returns and reports to the external agencies.

 


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