An Economic Value Approach to Intellectual Capital Accounting: A Case Study of Oman's Hospitality Industry


  • Sandeep OJHA Assistant Professor, Department of Business Administration, College of Applied Sciences, Salalah, Sultanate of Oman
  • Mohammed Bakhit KASHOOB Assistant Lecturer, Department of Business Administration, College of Applied Sciences, Salalah, Sultanate of Oman


In the earliest ages people's commercial activities were predominantly based upon direct haggle system and subsequently, the keeping of records wasn't a part of commercial entities. Later on, in production activities, people started using some initial inputs thus, trifling prerequisite of estimation and transactions in monetary term was realized that helped to originate the coins and alternative currencies. Most of the transactions were wiped out of money, and principles of transactions upon credit terms became a part of business activities, recording of transactions became a compulsion to know the amount were outstanding to him by his customers and what as owing by him to his creditors. Now the day’s commercial activities have reached at its advanced stage. In any form of business two categories of resources are used; active resources and inactive resources. A business cannot be operated without human resource. Human resource also be called as active resource as it uses the non-active resource and makes it doable to the most effective utilization of that inactive resource (Ojha 2013). We can understand that in contemporary production troposphere the indispensability of human resource has been reduced up to a great extent but still without a minimum quantity and quality of human resource, a business cannot be operated. Hence, the human resource will continuously have greater degree of favorable position over the inactive resources. This paper is an effort to explore prevailing practices of HRA in hospitality industry of Dhofar region in Sultanate of Oman by applying reformed Lev & Schwartz model. KEYWORDS: active resources, inactive resources, human resources, HRS, hospitality industries, Lev & Schwartz model