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Human Resource Accounting

William C. Pyle
Financial Analysts Journal
Vol. 26, No. 5 (Sep. - Oct., 1970), pp. 69-78
Published by: CFA Institute
Stable URL: http://www.jstor.org/stable/4470727
Page Count: 10
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Human Resource Accounting
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Abstract

In many firms investment in people is becoming more important than investment in plant. Although investment in workers (e.g., through training) and in customers (e.g., through advertising and customer service) often has a long-term impact on a firm's earning power, outlays for these purposes are treated as current expenses under conventional accounting practice. Where the investment in people is important, conventional practice can distort true earnings and conceal important changes in the firm. The remedy is recognition of the firm's human assets in the books of account.

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