Human Capital as an Object of Accounting in the Knowledge Economy

O Kogut,V Mantulenko

doi:10.1051/shsconf/20197105003

Abstract

The modern economy is called the economy of effective human capital, which emphasizes its main role in the development of the economy and society as a productive factor. Human capital is becoming the most important factor in the country's economic growth, the foundation of sustainable economic development. The article considers approaches to the definition of the concept and theoretical content of the category of human capital, its importance for the development of areas of science and practice. It is revealed that human capital is a necessary independent factor determining economic growth. The necessity of reflecting human capital in the system of accounting and reporting of firms is substantiated. The main problems of recognition of this most important factor of production are revealed, the directions of their further solution are determined. The scientific and practical necessity of introducing a new object of accounting and analysis of human capital is substantiated. The article contains information and conclusions that are of practical interest to firms.

Highlights

Throughout almost the entire history of mankind, until the beginning of the 1960s, the main role in the production process was played by physical capital: means of production, material conditions, etc
In the study of human capital and the problems of its accounting, the article used the fundamental works of classics of economic and philosophical thought, monographs, scientific papers, articles of domestic and foreign scientists on the analysis of human capital as a source and basis for increasing and effective activity in the economy
Tsyrenova “Human capital is a stock of health, knowledge and skills that contribute to the growth of labor productivity and affect income growth” [2]; V

Summary

Introduction

Throughout almost the entire history of mankind, until the beginning of the 1960s, the main role in the production process was played by physical capital: means of production, material conditions, etc. If there is a shortage of them in any of the sectors of the economy, it is enough to increase wage rates in it. This will ensure the overflow of labor from other sectors and thereby obtain the required number of workers of any skill level. It turns out to be not the one who has more natural resources or basic production assets, but the one who has higher quality of human capital. The main strategic directions of the long-term development of Kazakhstan until 2050 is the development of human capital

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