FUTURE ACCOUNTINGS

By: Swati Luthra

April 11, 2023 Swati Luthra 2

Human Resource Accounting is the art of valuing, recording and

presenting systematically the worth of human resources in the books of account of an organization.

Need Of HR Accounting: Deciding the transfers, promotion,

training & retrenchment of HR Identifying causes of turnover Helps to see under-utilization of HR

Limitations

HUMAN RESOURCE ACCOUNTING

April 11, 2023 Swati Luthra 3

Social accounting is the process of communicating the

social and environmental effects of organization’s economic actions to particular interest groups within society and to society at large.

Purpose Of Social Accounting To get feedback on how things are going in your organization. To know how well you are achieving your aims and values.

SOCIAL ACCOUNTING

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Environmental Accounting is a field that identifies resource

use, measures and communicates costs of a company’s or national economic impact on the environment.

This includes: Costs to remediate contaminated sites Environmental fines Purchase of pollution prevention

technologies Waste management costs.

ENVIRONMENTAL ACCOUNTING

Swati Luthra

April 11, 2023 Swati Luthra 5

Inflation accounting describes a range of accounting

systems designed to correct problems arising from historical cost accounting in the presence of inflation.

Need Of Inflation Accounting: Traditional accounting based on historical

cost fails to match current revenue against costs that are current.

Inflation accounting is used in countries experiencing high inflation or hyperinflation.

INFLATION ACCOUNTING

April 11, 2023 Swati Luthra 6

Forensic Accounting is the investigation of an allegation

whose evidence is expected to be presented in the Judicial form.

Need Of Forensic Accounting: Growing frauds Rapid use of Information

Technology Growing Cyber Crime Increase in number of corporate scams

FORENSIC ACCOUNTING

April 11, 2023 Swati Luthra 7

COSTING

KAIZEN COSTING It is the process of cost

reduction during the manufacturing phase of

an existing product.

Eg. Toyota Production

TARGET COSTINGIt is determining the maximum amount of

cost that can be incurred on a product and with it the firm can still earn the

required profit margin from that

product at a particular selling price.

April 11, 2023 Swati Luthra 8

THANK YOU!!