6 main Assumptions of Human Resource Accounting

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6 main Assumptions of Human Resource Accounting are:

1. Human resources provide benefits to an organisation in a fashion similar to the manner in which financial and physical resources provide benefits.

2. The benefits associated with both conventional assets and human resources have value to the organisation because these benefits contribute in some way to the accomplishment of the organisational^ goals.

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3. The acquisition of human resources typically involves an economic cost and the benefits associated with such resources can personally be expected to contribute to the economic effectiveness. It follows, therefore, that these benefits are essentially economic in nature and are subject to measurement in financial terms.

4. Since the usual accounting definition of an asset involves the right to receive economic benefits in the future, human assets are appropriately classified as accounting assets.

5. It is theoretically possible to .identify and measure human resource cost and benefits within an organisation.

6. Information with respect to human resource costs and benefits should be useful in the process of planning, controlling, evaluating and predicting organisational performance.”

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