Enriching Human assets - Motivation for “ Health , Wealth & Happiness ”

Accounting standards define an asset as something a company owns that can provide future economic benefits. Cash, inventory, accounts receivable, land, buildings, equipment -- these are all assets.

Liabilities are  company's obligations -- either money that must be paid or services that must be performed.

Any Unit or a Company  involved in Economic or Service activities needs the following resources or in other word  assets  for  achieving  defined outcome or results , namely:

Ø  Men  ( Employee , Employer)

Ø  Machine

Ø  Material

Ø  Money

Ø  Method

Ø  Market

Among all ,  human asset  is considered  vital ,  as all other assets are managed by Men in different level of competence. Competence in terms of knowledge, skill & attitude needs to be upgraded for desired outcome and sustainability . Men basic needs are

ü  Health

ü  Wealth and

ü  Happiness

Organisation with  well defined policy at  an individual and collective  at an organisation  level is considered to be a successful and sustainable Institution.

Proper balance of human & accounting - Assets and Liabilities” define the success of any Institutions – Keep attention on human assets , before it becomes a liability. 

Prepared and compiled by: S.K.Udaiwal