Human Resources as Assets: An Overview
Despite the technological advances and the increasing importance of computerization, human resources continue to play a dominating role in the effective use of physical and financial resources. Infact the value of human resources is invaluable and cannot be measured accurately. They are the key elements of the knowledge economy. In knowledge driven economies, it therefore becomes essential that human resources are recognized as an integral part of the total worth of an organization. In the accounting sense the objective of treating human resources as assets has been by and large overruled by a newly developed theory called Human Resource Accounting. But before treating people as assets one issue does arise in our mind as to whether human resources assets in real sense are like other physical assets. The present paper aims to justify the position of treating human resources as assets.
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