Human Resource Accounting is about identifying and measuring data of human resources. It is used to develop a financial assessment of people in the organization during a particular time period. It is also about evaluating the economic result of investment in people.
There are various problems and challenges faced in Performance appraisal. Broadly, problems in performance appraisal are categorized into 4 types: 1. Judgment Error 2. Inappropriate appraisal methods and forms 3. Lack of training 4. Ineffective implementation
Training is a very important tool in all the departments of the business e. g. finance, production, marketing etc. The return on investment in training is huge in terms of higher productivity, enhancing skills of the employees, increasing the motivation levels etc.