Title

Awareness of Human Resource Accounting Practices and Costing: Evidence from the Philippines

Document Type

Article

Publication Date

2017

Abstract

This study focused on the awareness of the Human Resource Accounting Practices and Costing (HRAC) of companies located in Carmelray Industrial Park 1 (CIP 1), Canlubang, Calamba City. The respondents were 8 human resource managers, 18 human resource supervisors, 8 finance officers, 9 chief accountants, and 5 accounting supervisors of the forty-eight (48) companies of CIP 1. The researchers used a questionnaire to collect the data. The study disclosed that the companies were not aware of the HRAC Cost Based Approach Models. The results also revealed that CIP 1 companies used the traditional or conventional accounting for human resources, where costs incurred for human resources were charged to expenses. The level of awareness and acceptance of the forty-eight companies of CIP 1 is very low. Based on the findings, the researchers recommended an accounting system that the companies might be able to use.

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