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It is true that the world's knowledge to the economic and entrepreneurial success has focus deciding factor, but Indian companies "investment (ROI) return on the lot with concrete steps," the pursuit of knowledge to perform. "We needed a company, all employees at all levels of skills to measure their knowledge and skills to produce cost." Human resource accounting (HRA) is basically an information system that changes over time are managed, says the company's human resources. P. Gupta, strategic development Intercontinental Operations, Legato Systems India director says HRA and their replacement cost and economic value of people in an organization include accounting for investments.
Employee skills and knowledge of the current billing system is not capable of real value. This indirectly affects the company's future investments, because every year for the development of human resources and recruitment costs increases.Experts HRA noted that the information systems to produce a series of administrative decisions for the plan use as the set can generate can set up, sales, investment analysis, budget support and personal analysis, companies save a lot of problems in the future help.
Recent decades, experienced in the transition to a global manufacturing to service economies. The main difference is in the nature of their assets. In the first case the plant, machinery, equipment, etc., as the physical assets are of utmost importance. On the contrary, knowledge and attitudes of employees is more important. For example, an IT company in terms of value of real estate knowledge and skills of their employees is negligible compared with the value. Hospitals, educational institutions, companies, etc., consult the company's total value in the skills of their employees and they largely depend on providing services.
Therefore, the success of these organizations, their knowledge, skills, abilities, motivation and organizational culture to understand the quality of human resources is subject to. Knowledge economy, so it's important that people as part of the total value of the company acknowledged. In order to appreciate, however, the value of human capital project, we need a method of knowledge, motivation, skills and contributions to determine the value of human factors and recruitment, selection, training as organizational processes, etc. s to make the human aspects that are supported. Developed. Human resource accounting (HRA) actually means the process