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HR Accounting follows Cost Accounting principles and calculates all direct and indirect costs related to human resources i.e. employees in the organization individually. The difference between Cost Accounting and HR Accounting is that CA finds out how much labor cost is needed per product to come up with CGS (Costs of Goods Sold) which helps to set product prices. But HR Accounting tracks and calculates all the cost related to an individual employee throughout their career with the organization to find out how much the organization has invested in him/her. It is difficult to track with normal financial accounting principles as according to those - some of the indirect cost invested for HR are actually alloted in various other accounts. That is why organizations are having difficulty in tracking these costs. Accounting are resisting the changes and HR Professionals are usually weak in accounting / cost management to implement the changes themselves. Parveen S. Huda
Managing Director
Renaissance Consultants Ltd.
Apartment 1C, House CWN(A) Plot 3B
Road 49, Gulshan 2, Dhaka
Telephone: +88 2 885 3117
Fax: +88 2 885 7929
Web: www.hr-headache.com
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Scope of human resource accounting?
Human resource accounting usually involves the management of payroll, benefits and bonuses. Accounts receivable and accounts payable are usually handled by the operations department.
What are the subfields of accounting?
1. Financial Accounting 2. Cost Accounting 3. Management Accounting 4. Social Accounting 5. Human Resource Accounting 6. National Accounting
What is environmental and natural resource accounting?
Natural resource accounting is an systematic process of analysing and formulating the natural resource depletion. In other words it is an accounting for natural resources similar to profit and loss i.e. harmful effect to the environment and natural resources versus the steps taken or benefits prevented from the human efforts to the environment. Hence, human uses the natural resources and that is why is accountable for the sustainable development of the environment.
Characteristics of Human resource accounting?
Provide cost value information for building appropriate and effective management decisions on the subject of acquiring, allocating, developing and retaining human resources to achieve cost effective organizational objectives Monitor the utilization of human resources by the management successfully Analysis of the human assets Help in the development of management principles and accurate decision making for the future by categorizing financial outcomes of a variety of practices Facilitates evaluation of human resources recording the assessment in the books of financial credit and revelation of the information in the financial statement Helps the organization in decision making in Human Resource Management Is A Management Of An Individual, Human Resource Management Is A Continuous Process , Human Resource Management Is A Dynamic Function, Human Resource Management Is a Universal Function, Human Resource Management Is A Strategic Approach, Integration of Goals, Human Resource Management Is Future-oriented
Difference between HRM and SHRM?
Human Resource Management is a discipline within business. The Society for Human Resource Management is a professional organization for human resource professionals.
What is human resource accounting?
Human resource accounting is process of identifying, measuring and communicating the human resources investment and contributions which the conventional accounting have not taken care of in the financial statement. It is the quantification of the cast and value of employees to an organization.
Scope of human resource accounting?
Human resource accounting usually involves the management of payroll, benefits and bonuses. Accounts receivable and accounts payable are usually handled by the operations department.
What are the subfields of accounting?
1. Financial Accounting 2. Cost Accounting 3. Management Accounting 4. Social Accounting 5. Human Resource Accounting 6. National Accounting
What is the relationship between human resource department and accounting department?
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Objectives of Human Resource Accounting?
==Answer==Main objective s of human resource accounting are:Improve management by analyzing investment in human resource.To consider human resource as an asset.Attract and retain qualified people.Profile the organization in financial terms
What has the author Katie R Schneider written?
Katie R. Schneider has written: 'Human resource accounting' -- subject(s): Accounting, Bibliography, Human capital, Personnel management
What is environmental and natural resource accounting?
Natural resource accounting is an systematic process of analysing and formulating the natural resource depletion. In other words it is an accounting for natural resources similar to profit and loss i.e. harmful effect to the environment and natural resources versus the steps taken or benefits prevented from the human efforts to the environment. Hence, human uses the natural resources and that is why is accountable for the sustainable development of the environment.
What has the author John A Brierley written?
John A. Brierley has written: 'Human resource management issues in accounting and audit firms' -- subject(s): Accounting firms, Personnel management
What are four departments of a business?
the four departments are:1...human resource department2....accounting department3.....marketing department4.......production department
What are the functional areas of enterprise resource planning?
There are several common functional areas of enterprise resource planning. Examples include data services, project management, human resources and accounting.
Characteristics of Human resource accounting?
Provide cost value information for building appropriate and effective management decisions on the subject of acquiring, allocating, developing and retaining human resources to achieve cost effective organizational objectives Monitor the utilization of human resources by the management successfully Analysis of the human assets Help in the development of management principles and accurate decision making for the future by categorizing financial outcomes of a variety of practices Facilitates evaluation of human resources recording the assessment in the books of financial credit and revelation of the information in the financial statement Helps the organization in decision making in Human Resource Management Is A Management Of An Individual, Human Resource Management Is A Continuous Process , Human Resource Management Is A Dynamic Function, Human Resource Management Is a Universal Function, Human Resource Management Is A Strategic Approach, Integration of Goals, Human Resource Management Is Future-oriented
What does BPO deals in?
BPO is a type of outsourcing which typically deals in human resource, finance and accounting, and customer-support services. http://www.outsourceit2philippines.com/
