An Economic Value Approach to Intellectual Capital Accounting: A Case Study of Oman's Hospitality Industry
Abstract
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 modelPublished
Issue
Section
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Authors who publish with this journal agree to the following terms: RAIS Journal of Social Sciences is given by the author the right of the first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal. Authors retain copyright. If the author cites from his own article published in RAIS Journal of Social Sciences, then he is encouraged to cite the name of the RAIS Journal of Social Sciences, volume, and page. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access). This journal provides immediate open access to its content, in this way, we make research freely available to the public and support a greater global exchange of knowledge.
PRIVACY STATEMENT
The names and email addresses entered in this journal site will be used exclusively for the stated purposes of this journal and will not be made available for any other purpose or to any other party.