Culture as Human Capital

Question: Discuss about theCulture as Human Capital. Answer: Culture has been used as an asset which is tangible and intangible expression. There is a significant relationship between culture and human capital investments. Both the culture and human capital complement each other to develop to skill acquisition. Investment in human capital has gone hand in hand with material investment. Human capital has been viewed as trait in knowledge, skills, attitudes, beliefs, attitudes talents, abilities, experience, judgement and wisdom. The resources obtained are the total capacity of the people that represents a form of wealth, which can be utilized in the achievement of goals. In accounting management culture, it is a concern of how it can be utilized as a capital asset. It is used for location of accounting errors and thus is essential for success of any organization. Human capital has been viewed as an important economic growth factor. Recommendation Cultural investment on human capital on factors such as education, training and medical care affects rate of return of an individual which necessitates skills assessment for accounting field. Human capital has been utilized as a means of production yields more cultural values in the organization. Culture is an internal process which should incorporate accounting standards for effective professional judgement. External rules have insignificant impact on the values of a society or organization when proper and efficient accounting standards are in place. Culture consideration on influences is needed to maintain profession basic purpose. Usage of accounting tools are relevant for financial management that offers accountability and focus towards positive culture abased society.