Tuesday, March 2, 2021

Human Resource Accounting | Tripartite Consultation (International Labour Standards) Convention, 1976


The American Association of Accountants (AAA) defines HRA as follows: ‘HRA is a process of identifying and measuring data about human resources and communicating this information to interested parties’.  
Flamhoitz defines HRA as ‘accounting for people as an organizational resource. It involves mea­suring the costs incurred by organizations to recruit, select, hire, train, and develop human assets. It also involves measuring the economic value of people to the organization’.  
According to Stephen Knauf, ‘ HRA is the measurement and quantification of human organiza­tional inputs such as recruiting, training, experience and commitment’.



The ILO is based on the principle of tripartism - dialogue and cooperation between governments, employers, and workers - in the formulation of standards and policies dealing with labour matters. International labour standards are created and supervised through a tripartite structure that makes the ILO unique in the United Nations system. The tripartite approach to adopting standards ensures that they have broad support from all ILO constituents.




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