Important Points for IC 26 - Life Insurance Finance Exam
Page 49 Of 82
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American Accounting Association has defined human resource accounting as
Cost based models of HRA include : Capitalization of historical costs, Replacement cost
Economic value models of HRA include : Opportunity cost, Discounted wages and salaries approach, Flamholtz model, Jaggi and Lau model
Inflation accounting is an accounting system that adjusts values for changes in purchasing power.
Inflation accounting is an attempt to account for the price level changes and adjust the financial statement accordingly.
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