• Sadhwani Narendra Kumar
• Khalsa Amarjeet Singh (Dr.)

In the modern knowledge based economy Human Resource is most important and one of the four basic resources of a business i.e. Money, Machines, Materials and Men (4 Ms). Without men, all other resources are passive. Human capital denotes to an individual’s knowledge, skills and abilities that add economic value to other 3 Resources and transforms them into desired goods and services, which fetch profits to the company. Various training and development programs, increase men’s productive capacity, so also the companies’ profits. But, it is shocking that 3M’s are recognized as an asset and are placed on the asset side of the balance sheet of an organization., Only 1M i.e. Men is not recognized as an asset, hence does not find any place in the balance sheet of a firm. The Companies Act 1956 does not explicitly provide for the disclosure of human assets in the financial statements. However some Indian organizations voluntarily adopted the practice of valuing human assets and reporting the same in the annual reports in separate section. In India, Infosys Technologies was pioneer Indian software company to value HR in India in the year 1995-96, followed by many other leading software companies like Satyam Computers Limited, Rolta India Limited, KPIT - Cummins Info-systems Limited (KPCIL). Initially Infosys used the traditional Lev & Schwartz model for valuing the human capital. In later years 2011-12 Infosys developed GIST-HCX Model is based on a present value calculation of the increase in future earnings of employees during their employment at Infosys. The present study aims to evaluate the trend of evaluating human capital in Infosys Technologies Limited.

Keywords: 4M’s (Money, Machines, Materials and Men), Human Resource, Human Resource Accounting, HRA Practices, Human Capital Valuation, Human Capital Externality.

"HUMAN RESOURCE ACCOUNTING: “TRENDS IN HUMAN ASSET VALUATION AND REPORTING BY THE PRIVATE SECTOR ORGANIZATIONS WITH SPECIFIC REFERENCE TO INFOSYS LIMITED", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.7, Issue 4, page no.1965-1976, April-2020, Available :http://www.jetir.org/papers/JETIR2004470.pdf

"HUMAN RESOURCE ACCOUNTING: “TRENDS IN HUMAN ASSET VALUATION AND REPORTING BY THE PRIVATE SECTOR ORGANIZATIONS WITH SPECIFIC REFERENCE TO INFOSYS LIMITED", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.7, Issue 4, page no. pp1965-1976, April-2020, Available at : http://www.jetir.org/papers/JETIR2004470.pdf