Human Resource Accounting Homework Help
Learn about Human Resource Accounting from Help me in Homework
Looking for human resource accounting homework help to resolve problems? Accounting is difficult to pursue and even more so, human resource accounting. The topic is new, and relatively nothing is defined concretely. Thus, solving assignments based on it can prove to be difficult. But with the right help, it can be done easily.
About human resource accounting
In conventional accounting practices, human resource is unaccounted for. Human resource accounting is the process of identification and investment in human resources within a company. The data that is received from such accounting is conveyed to the interested parties for information. Human resource accounting assignment help can elucidate more on this.
Objectives of human resource accounting
- To provide cost information for the allocation, acquiring and development of human resources within a company.
- For management to monitor the activities of human resources.
- Looking for depreciation or appreciation among human resources.
- To develop effective management practices.
- Increase the value of human resources in the eyes of the manager.
- To utilize workforce effectively.
- To plan human resources in a better manner.
- In order to take better decisions.
Methods of calculating human resource
There are several ways to calculate human resource. Each of these methods has some advantages and disadvantages and help out an organization in their own way. These methods include:
- Historical cost method
- Standard cost method
- Replacement cost method
- Current purchasing power method
- Reward valuation method
- Opportunity cost method
- Adjusted discounted future wages method
- Economic valuation method
- Capitalization of salary method
- Return on efforts employed method
Advantages of such accounting
Wondering about the advantages of human resource accounting? Well, there are many to count. Human resource accounting assignment help can reveal all of them. Some of the advantages are as follows:
- As it dictates the value of human resources, this type of accounting helps to interpret the return on the capital used.
- The decisions of a manager are improved.
- Prevents the misuse of human resource by top management personnel as it states the value of human resource within a company.
- Utilization of human resources is done efficiently, and the effects of labor unrest are felt on the quality of human resources.
- Increase in productivity.
- Assist management to adopt best methods for administration and salary.
Limitation of such accounting
Despite various advantages, there are quite a few limitations that exist for human resource accounting. These are:
- Since there existed advantages and advantaged for each method, the argument over the ideal method for calculation exists.
- No standard procedure has been developed, so it only serves the purpose of providing additional information.
- It is based upon assumptions.
- Since the lifespan cannot be estimated, hence the valuation doesn’t exactly prove to be real.
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