Human Capital and Financial Reporting

Human Capital Reporting In Financial Statements  August 26, 2009 – 01:49 pm
Cost: The Workforce”

Human Capital Reporting In Financial Statements

INTRODUCTION

Conceptually, it is often argued that human resource should not be seen as a cost, but as assets to any organisation. The concept of Human Capital Reporting emanated from the human resource management and practice. Human resources accounting otherwise known as Human Capital Reporting relates to the management of the recruitment, retention, training and development of employees. 1

Due to massive investments in human resources, modern business organisations have established that investments in employees in the form of salaries and wages, trainings and re-trainings etc, should not just pass for a cost, but a concerted and deliberate efforts are to be made to account for, and report on them. This is because human resource accounting is a key source of competitive advantage and ultimately profitability…to ensure that workforce has the ability and right mix of people with appropriate skills and experience allowing the business to compete effectively.

1 DEFINITION OF CONCEPTS

 Human Capital This refers to the stock of skills and knowledge embodied in the ability to perform labour so as to produce economic value. It is the skills and knowledge gained by a worker through education and experience. In some way, the idea of “human capital” is similar to Karl Marx’s concept of labour power: he thought in capitalism workers sold their labor power in order to receive income (wages and salaries). Marx pointed to “two disagreeably frustrating facts” with theories that equate wages or salaries with the interest on human capital:

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Okay, here are two great sources of income that

Have worked out for me.
Not sure how you handle hard work, but I'm serious about the landscaping thing. You can take an online course in small engines etc for about 700 and be finished in 9 months so you can repair your own equipment. Buy some used equipment and basic insurance. Read about plants in your area, read about types of grasses and the care required to maintain them. There are many books on this. I try to put cards in lawns that don't look well kept. You can take out a loan of 5 g's or less to cover these expenses.
Also, sell things on ebay. I buy name brand clothing and other items from goodwills and thrift stores and sell them for ten times the price online. For example, spend 60 bucks at goodwill and sell for 650. You just have to know what to look for.

My vacation to springfield has made me so.......

Depressed.
my family is crazy. and that's why i moved 2,000 miles away.
the good part of my vacation was all of the good (and extremely cheap) vintage stuff i scored at the local salvation army and goodwills.
if i still lived in springfield illinois, i've decided that i would make my living off of e-bay. no one realizes the value of the some of the stuff i was finding. i had to... like a child, so i told them i did *need* an explanation, and i expected one.
well, that was the last night there, and from then on, our trip was terrible. i really didn't want it to end on a bad note, so that was the reason i needed to know WHY my mom wasn't going to be in the pictures. how terrible. everyone started screaming and yelling, whilst my b.f. was downstairs.
bad times.

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