HRA as a tool of management facilitates better and effective management of human resources. Since human resources are incapable of being owned, retained, and utilized, unlike physical assets, this poses a problem to treat them as assets in the strict sense. There is a constant fear of opposition from trade unions as placing a value on employees would make them claim rewards and compensations based on such valuations. In spite of all its significance and necessity, tax laws don't recognize human beings as assets. There is no universally accepted method of the valuation of human resources. References Notes Further reading Blau, Gary E. Human Resource Accounting, 1st ed. Scarsdale, N.Y.: Work in America Institute, 1978. Caplan, Edwin H. and Landekich, Stephen. Human Resource Accounting: Past, Present and Future. New York: National Association of Accountants, 1974. Cascio, Wayne F. Costing Human Resources: The Financial Impact of Behavior in Organizations, 3rd ed. Boston: PWS-Kent Pub. Co., 1991. Monti–Belkaoui Janice and Riahi–Belkaoui Ahmed. Human Resource Valuation: A Guide to Strategies and Techniques. Quorum Books: Westport, Connecticut–London, 1995. Ulf Johanson, Gunilla Eklöv, Mikael Holmgren, Maria Mårtensson School of Business Stockholm University, Human Resource Costing and Accounting versus The Balanced Scorecard: A literature survey of experience with the concepts 1998 (PDF) Tiwari Ravindra, Kodwani Amitabh Deo, "Human Resource Accounting-A New Dimension" Tiwari Ravindra, Kodwani Amitabh Deo, "How to Value Human Resources" (Approach for Valuation of Human Resource at the time annual appraisal exercise) Management accounting: Ravi.M.Kishore- taxman allied publications External links Human Resource Accounting on Scribd What is Human Resource Accounting by CharteredClub Human resource accounting - interests and conflicts, CEDEFOP Accounting for People: Taskforce and Beyond The Pacioli Institute for intellectual capital accounting and financial reporting Accounting Software for Business Workday Training - CloudFoundation Accounting systems Human resource management