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Assignment the Accounting of Human Resource

Category: Human Resource Management Paper Type: Assignment Writing Reference: APA Words: 3400

1. Introduction of The Accounting of Human Resource:

1.1 Overview of The Accounting of Human Resource:

Human resource accounting is the type of accounting that belongs to the people of the organization. People utilize as a resource of the organization. This accounting includes all the measurement of costs belongs to the business and also the development of human assets, train, hire, select and recruit in the organization. This accounting is determining the economic value of the people who are working in the organization. This is a complete process of measuring and identifying the human resource data and its communication related to interested parties of information. Related to various aspect of the human assess, human resource accounting is mainly involving in a measure the asset of an organization (TURNER, 2016).

By providing information to acquiring, develop, retain, utilize and evaluate human resource according to purpose to facilitate the effective management of the human resource. This concept explains how much the human resource is necessary for the organization and how to manage their role and responsibility according to their duty in the organization and how much they generate productive results according to their duty. Human resource is essential for every organization and their accountability according to their role and performance is very important to determine and give them benefit against their efforts and performance in the organization.  (Flamholtz E. , 2016). 

1.2 Problem statement of The Accounting of Human Resource:

Accounting of human resource is necessary for the organizations but companies also has to face lots of problems according to human resource accounting because its is different from traditional accounting. Human resource accounting problem simply related with the perception that is not part of the business strategy. In a manner suitable to record on a financial statements, many difficulties quantifies according to human resource capital. It is not easy to assign the dollar value according to physical or intellectual capabilities of the employees or it is consider difficult to measure accurately the on the job training costs related to all the new employees. 

Company has to face lots of problems to the calculation of human resource accounting as measurement of human asset and their allocation is not easy. Senior management also gives less importance for measuring the human resource accounting. Every organization use different approach and strategy so no any company not follows the same rules of human resource accounting at international standards. Company cannot determine meaning full and valuable comparison according to changing requirements. The manager of companies set different priorities and standards to invest in the human resource and they utilize this area according to their own requirement and try to save maximum cost in this regard. 

1.3 Statement of purpose of The Accounting of Human Resource:

Human resource accounting is not easily handling by every organization because every organization has its own strategies and working formats. Every organization has different working criteria and its own employees have different way of performance so it is not easy to judge all the organizations and their employee’s efforts at the same level. Measurement of human resource accounting is the main task and in this study we are going to understand how to handle this issue sin most effective way. It also provide a clear understanding that how company follow the human resource accounting to cover the human asset of the organization and calculate according to their skills and efforts. This topic is very important to discuss according to changing requirement of different organizations and their scope according to human resource demand in the market. 

This is very important to determine that human resource of the organization and accounting of human resource help to evaluate the efforts, skills and capabilities of the human resource that involve and utilize in the organizations and consider their real efforts. Human resource accounting is mostly used in the organization after their proper understanding and manages all the human resource requirements according to their purpose in the organization. This accounting method is very important to determine the efforts of the organizations and at large scale it help to assess that how much the organization explore efforts of their employees in the human resource accounting. 

1.4 Statement of objectives of The Accounting of Human Resource:

There are some research objectives of the accounting of human resource:

To evaluate the different accounting methods used by the companies for their human resource transactions. 

To assess the cost of human resource in both management and accounting perspectives.

To identify factors affecting proper accounting and allocation of human resources.

1.5 Scope and limitations of the study of The Accounting of Human Resource:

 This study help to explain that what methods used by company to manage the human resource accounting and how much it is beneficial for the company. When the human resource area establishes in the company how much cost the management is going to bear and when appointing new and qualified staff what expense the company has to face. It is also determine that which method is most beneficial for the company for determine the human resource accounting and what factors explain the allocation and measurement of accounting in the human resource. These limitations implemented in the companies according to their method of accounting and manage the requirement of its relative human resource according to their efforts. 

1.6 Significance of the study of The Accounting of Human Resource:

This study helps the organizations to provide a better understanding of the human resource and its proper utilization in the operation and functions of the organization. The human resource which utilizes in the organization has its capabilities and its abilities. So it depends on the organization and its management that how to effectively utilize its human resource and make long term and beneficial usage for the organization and also enhance the level of organization through its effective and unique performance. 

Management and the human resource department of the organization are mainly responsible for all the appointments of human in the organization as employees and how to distribute their roles and responsibilities among them according to their capabilities and skills and make sure that how much their efforts count and consider remarkable in the success of the organization.  An employee of all the level in the organization has their importance and their requirement according to organize tasks and activities.

2. Review of literature of The Accounting of Human Resource

Human resource accounting is the parts of organization that include different costs belong to staff of organization in a separate report that prepare in the organization. This accounting system includes all the costs like recruiting, training, benefits, payroll taxes and employee compensation. This system also explains whether the human resources are considering major expense or light on the management of organization. Such information focus on the employees related to all those values who having more importance in the organization according to their performance. This must be part of budget of organization because all the expenses related to human resource must be budgeted according to organization and its policies. Human resource accounting helps in the employees’ valuation that include their innovativeness, leadership, education and experience. 

(Rani, 2009). 

Human resource accounting basically include according to human assess in different aspects. The basic aim of the human resource accounting is to provide facilities to the effective management of the human resource to evaluate human resource, utilize, retain, develop and acquiring according to providing information. for effectiveness of human resource utilization is provide information, to attain cost effective organizational objectives, it provides for cost value date for managerial decisions regarding maintaining human resource, allocating, developing and acquiring. By classifying the financial consequences of different practices, it assists in the development of effective human resource management practice and it is appreciating or depleting to provide information for determining the status of human assets.  (Pyle, 2017). 

The accounting in human resource is that main thing which needs to be figured account appropriately and efficiently. A number of things are there that makes this department completely efficient and worth to fulfill effectively. A number of things are there that makes this working complete and this allows them to work more appropriately and more effectively as they have to follow the things which needs to be managed and are prepared under working of HR departments and these things are going to get in a way at this is the thing that makes the working of Accounts department accurate and efficient so that the overall procedure will go on smoothly and this will make the budget to an extent that makes the workings to be highly efficient and highly predictable as well (Flamholtz E. G., 2012). 

There are many of the problems may cam is working in accounting department of the HR team but the thing is they have to follow it as they are means to follow there are many of the time happens that once you do you’re efficiently working in this regard you will be allowed to get failed and you will lose the strength of your workings in a way that it make you strong enough to follow the rules so that if you do not follow them you will definitely get the whole organization disturbed and this will make your workings to be good enough as you have to manage the things to make them sure about how much interesting is the fact that you are going to get the things accurately and according to the rules and regulations HR team had set for you and this is going to make your workings viral and appropriate as well (Brummet., 2017).

HR department is mainly concerned with hiring people for the desired departments needed in the organization. A number of things are there that are going to be hired at once and the main work if HR in hiring is that they must be hire effectively efficient and talented staff so that they will work efficiently and take the organization to a next level of success and this makes the organization more groomed and more developed so that the Accounting staff will be able to manage the aspects more appropriately and more efficiently as well. There are thousands of reasons are there that can make the accounting in Human resource efficient and effective and this includes hiring of professionals have main focus on accounting workings and managing the financing of the organization (Abdulla, 2009). 

This bookkeeping incorporates all the estimation of expenses has a place with the business and furthermore the advancement of human resources, train, enlist, select and enroll in the association. This idea clarifies how much the human asset is important for the association and how to deal with their job and obligation as per their obligation in the association and the amount they create gainful outcomes as per their obligation. Each association utilize distinctive methodology and system so no any organization not adheres to similar principles of human asset bookkeeping at worldwide guidelines. Estimation of human asset bookkeeping is the primary undertaking and in this examination we will see how to deal with this issue sin best way. Human asset bookkeeping is generally utilized in the association after their legitimate comprehension and deals with all the human asset necessities as indicated by their motivation in the association (Theeke, Financial implications of accounting for human resources using a liability model, 2018). 

In the research study, some of the significant ethical concerns are discussed. For directing this work research paper has numerous roles. Following are some points that must be carried in research study; the competent role must be elaborated in organized way, for gathering the data the authority letter and permission letter is also vital, nobody will be confusing because of this kind of study and the entire data and information associated to customers must be trustworthy. When the human resource accounting research shown then every member of the research must agree on the following terms as; applicants can withdraw at any time, it doesn’t contain international damage for the projects, the solution of the queries must be on actual terms, members doesn’t be less than 18 years old, and research is conducted to make sure the ethical resources for the company (A, 2018). 

At the point when the human asset zone builds up in the organization how much cost the administration is going to hold up under and while designating new and qualified staff what cost the organization needs to confront. The human asset which uses in the association has its capacities and its capacities. The board and the human asset branch of the association are principally liable for all the arrangements of human in the association as workers and how to circulate their jobs and obligations among them. This bookkeeping framework incorporates all the costs like enlisting, preparing, benefits, finance expenses and worker remuneration. This framework additionally clarifies whether the HR are thinking about significant cost or light on the administration of association. The fundamental point of the human asset bookkeeping is to give offices to the powerful administration of the human asset to assess human asset, use, hold, create and gaining as indicated by giving data (Tomassini, 2017).

There are many of the things are also taken into consideration while working on HR in accounting that if these are ignored then this makes the workings to be more accurate on HR in accounting department as accounting in HR is connected with each other and this makes the working to be more appropriate and more demanding so that allowing the HR to make the things more appropriate. Basically Human resource in Accounting measures the costs and other benefits that accounting department tackles in a way as this is the thing that makes the working to be smoother and efficient. The measuring of cost is very important and this makes the workings to be more appropriate and more demanding as this allows the things to be managed properly and efficiently. A number of things are there that are making the things to be more appropriate and this allows the matters to be well established and well maintained as well. The accosting, financing and management is that kind of thing that complete the working in an organization as if the training needed then obviously finance is needed for this (Theeke, 2008). 

3. Methodology of The Accounting of Human Resource:

3.1 Research design of The Accounting of Human Resource

The said research is conducted by using the both kinds of the research methods. It includes qualitative and quantitative research methods. The qualitative research methods lead towards the theories and concepts that are particularly conducted for observing the role gap analysis in supermarket. The qualitative research method is the good approach to explore the views, theories, points and aspects of the other person in words. The mixed method design has been particularly employed in this study. The quantitative research design leads towards the exploratory design meanwhile the qualitative research design is leads towards the descriptive research design. It doesn’t include any kinds of the figure and statics. The quantitative research method leads to the facts and figures that are particularly utilized to conducting any kinds of the research. In the said study the quantitative research method is particularly used by using the primary source of data collection. For the mixed method research study both of these designs is the good approach. This study uses the good sample size and technique for collecting the study that’s why it used the descriptive kinds of the study. The survey strategy is particularly employed in quantitative research and this study needs survey for the analysis and verification of the data.

3.2 Sample and procedure of The Accounting of Human Resource

For this particular survey the complete enumeration is utilized due to the utilization of the quantitative research design. For the said study the representative sample is particularly selected.The simple random sampling technique has been employed on this particular study that is the non-probability sampling. The sampling technique and size is the one of the most important facts for conducting nay kinds of the research study. In the said study the simple random sampling technique sampling technique has been used. It is the good approach for collecting data from all respondents. The sample is the 100 respondents. All of these are the employees of the various organizations in the particular region. The 20 are senior employees of the financial companies who are performing their roles and responsibilities in the various regions of the market and cities. These respondents are good sample for the study to assess the accounting methods for the various organizations. The particular data gathering process and procedure is includes as; 

To contacting with the employees is the one of the most important step when the process of the research has been started. It is the important significant aspects that how the respondents can be contacted. The employees of the organization have been contacted by using the proper and particular process of email. Meanwhile the senior employees has contacted by taking the particular appointment and meeting them personally. This questioner has been given to the employees as feedback paper. Proper permission and refer letter has been taken from the department of the university in order to collect such data. 

3.3 Measurements of The Accounting of Human Resource:

For taking the study analysis, different interviews and questioners also prepare for different employees to conduct their information and all the necessary requirements. In the first section, the basic and biological information of the employees must be collected with complete details. This explain the basic information about the employees and their skills. The second section of the questionnaire contains on the information related to the various variable that are used for assessing the methods of the human resource accounting. This section of the questioner contains on the open-ended questions and this question has been designed by considering the five-point Likert ranging scale from strongly disagree to strongly agree.    

3.4 Statistical method of The Accounting of Human Resource

The process of the data processing is includes as the procedure of the data analysis. In this study data has been analyzed by using the SPSS software that is good tool for analyzing the quantitative data. This software can reduce the chances of the data manipulation. It is the one of the most important and good tool for generating the charts and graphs. It is the good tool for producing the tables. There are numbers of the statistical test that has been applied in this study. It includes regression, correlation and descriptive statics.

3.5 Ethical consideration of The Accounting of Human Resource

Few of the important ethical concerns are discussed in the research study. The research paper has various roles for conducting this work. The research study must be carried out by following the few points as; the adroit role must be explain in well manner way, for collecting the data the authority letter and permission letter is also necessary, due to this kind of study nobody will be distracting and the whole data and information related to customers must be confidential. When the human resource accounting research conducted then all the participants of the research must be agree with the following terms as: for the participants withdraw is free at any time, it doesn’t include the international harms for the projects, the answer of the questions must be on real terms, participants doesn’t be less than 18 years old, and research is conducted to ensure the ethical means for the company. 

References of The Accounting of Human Resource

A, S. (2018). HR Accounting. 1-11.

Abdulla, S. (2009). Human resource accounting (HRA) disclosure of Bangladeshicompanies and its association with corporate characteristics. 3(4), 1-16.

Brummet., R. L. (2017). Accounting for human resources. 1-40.

Flamholtz, E. (2016). The impact of human resource valuation on management decisions: A laboratory experiment. 153-165.

Flamholtz, E. G. (2012). Human resource accounting: a historical perspective and future implications. 947-954.

Pyle, W. C. (2017). Human Resource Accounting: A Human Organizational Measurement Approach, Part II. 75-84.

Rani, A. (2009). A Literature Review On Human Recource Accounting . 1867-1876.

Theeke, H. (2008). Financial implications of accounting for human resources using a liability model. 16(3), 11-23.

Theeke, H. (2018). Financial implications of accounting for human resources using a liability model. 12(2), 124-137.

Tomassini, L. A. (2017). Assessing the Impact of Human Resource Accounting: An Experimental Study of Managerial Decision Preferences. 54(4), 904-914.

TURNER, G. (2016). Human Resource Accounting — Whim or Wisdom? 63-73.

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