Accounting tracks costs and revenue, reports on financial results, and allocates resources to support an organization’s goals. HR manages people, hiring and recruiting talent, and motivating employees to advance those goals.

According to a 1998 study by the School of Business at the University of Stockholm, the main problem with HR accounting is the perception that it is not based on a business strategy, possibly due to difficulties quantifying human resource capital in a manner suitable to record on a financial statement.

The main objectives of HR Accounting system are as follows: 1. To furnish cost value information for making proper and effective management decisions about acquiring, allocating, developing and maintaining human resources in order to achieve cost effective organisational objectives.

(1) HRA helps in determining the return on investment on human resources. (2) It helps in knowing whether the human resources have been properly utilized or not. (3) It provides quantitative information on human resources which will help the managers as well as investors in making decisions.

An accounting background prepares them to regard budgeted items such as training, recruitment, staffing, incentives and performance evaluation in terms of their cost and dollar benefit to the organization. Exposure to accounting also helps an HR manager appreciate corporate cash flow in the budgeting process.

HR pays very little even with alot of experience. Accounting is better, especially when you work at accounting firms or start your own business. If you are good with numbers I would recommend instead shifting to Finance.

Human resources (HR) and accounting are both crucial areas in most companies, yet they often operate in silos, functioning independently. The cost of salaries, benefits, hiring, and firing received much more attention than the critical contributions that employees made to the company.

Is payroll an accounting or HR function? Payroll is an employee-facing function, which is why some feel that it belongs with HR. Changes to pay, entering termination dates and start dates, and entering or changing benefits information falls under the human resource umbrella.

The six main function of HR are recruitment, workplace safety, employee relations, compensation planning, labor law compliance and training.

• Recruiting the Right People for the Right Job.
• Maintaining a Safe Environment.
• Employer-Employee Relations.
• Compensation and Benefits.
• Labor Law Compliance.
• Training and Development.

It’s no secret to human resource professionals, managers and supervisors that one of the most critical decisions facing the workplace is talent acquisition, better known as recruiting.

The Highest Paying HR Functions

1. International Human Resources Associate. Median Salary: $62,400 Source: Business Research Guide.
2. Change Management Specialist. Median Salary: $119,369 Source: Monster.
3. Training and Development Manager.
4. Compensation and Benefits Manager.
5. Human Resources Director.

What are the 15 functional areas of HR?

• People- HR Strategic Planning.
• People- Talent Acquisition.
• People- Employee Engagement and Retention.
• People- Learning and Development.
• People- Total Rewards.
• Organization- Structure of the HR Function.
• Organization- Organizational Effectiveness and Development.

6 Areas of HR That Every Organization Should Manage

• Compensation and Benefits.
• Recruitment and Staffing.
• Training and Development.
• Employee Relations.
• Employee Satisfaction.
• Labor Laws and Legal Compliance.

Recruitment and onboarding are by far the most important areas of HR management. Hiring candidates who align with your organization’s culture and values will maximize your productivity and growth. Understand the recruitment needs of different departments. Advertise job openings and receive applications.

The role of HR departments

• Employee training.
• Pay and compensation.
• Employee benefits.
• Employee relationships.
• responsibilities and compliance.