In what way 'Human Resource Accounting' differs from 'Financial Accounting'?
Answers
Answer:
Accounting – Meaning
Since the beginning of globalisation of business and services, the human resources are becoming more important and decisional input for the success of any corporate enterprise. Human resource accounting (HRA) involves accounting for expenditures related to human resources as assets...
“Human Resource Accounting is the process of identifying and measuring data about human resources and communicating this information to interested parties.” In simple terms, it is an extension of the accounting principles of matching costs and revenues and of organizing data to communicate relevant information in financial terms.
Financial accounting is the field of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. This involves the preparation of financial statements available for public use.
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Answer:
Explanation:
F.A focuses on providing information about the functioning of the entity business to its user ,whereas management ACCOUNTING focuses on providing information to help them in evaluating the performance and devisiong plans for the future