—Need for this paper for identifying a new
dimension beyond Human Resource Management (HRM) and
Financial Management (FM), by superimposing the effect of
HRM and FM. Human Resource, an asset to the organization,
can appreciate with time, only when provided adequate input.
Money spends in doing so is now considering as an investment,
which was previously considered as expenditure. Commitment
from the top management for the investment in the human
development activities is increasing continuously, but still
sometimes this proposal is questioned. Even till now, this
proposal is subjected to the condition of the business, which is
being withdrawn considering it as a cost-minimizing strategy,
without considering any other factors. This paper is having its
prime focus in developing a new discipline which can serve the
purpose of strengthening the proposal for investment in human
resource and develop a model which can quantify it.
—Financial Management (FM), Human
Resource Accounting (HRA), Human Resource Management
(HRM), Wealth maximization.
Anupa Chaudhary is with the Amrapali Institute of Technology and
Sciences, Haldwani -263139, Uttarakhand, India (phone: +919760174324;
Sumit Prasad is with the Amrapali Institute of Technology and Sciences,
Haldwani- 263139, Uttarakhand India (e-mail:
Cite:Anupa Chaudhary and Sumit Prasad, "Human Resource Financial Management," International Journal of Trade, Economics and Finance vol.1, no.4, pp. 342-344, 2010.