With the launch of Accounting for People 2.0, we’ve been busy scouring the web for the best articles, essays and ideas on human resource accounting. So far, so good. Human resource accounting; human asset reporting; human capital reporting; extended narrative reporting; intangible asset reporting; people reporting – you can pick your term.
So far, the media have been fairly quiet about this. The few publications who’ve reported it either simply quote/summarise the COI press release, or else use Directors’ Pay as a hook: see, for example, Helen Gilbert’s article in Personnel Today, and the Labour and Capital blog by Tom Powdrill, of PIRC. Maybe everyone else is studying the consultation document carefully, like we are, before commenting publicly.
Important as Directors’ pay is, we hope that there will be more than that involved in the responses to the consultation, and in the Coalition Government’s commitment to reinstate the Operating and Financial Review.
HubCap's Director, Michael Reddy, will give a talk about the powerful role of human capital analysis at “Human Capital: 2010 and beyond”, a one-day conference on 30th Sept 2010 run by The Human Capital Forum in Central London.
Human Potential Accounting (HubCap's founder) sponsored Accounting for People 2.0 picks up the threads from its 2005 predecessor, but is a very different animal in a much changed context.
The first meeting of the Taskforce took place on Oct 21st 2010 in London’s Soho Hotel. Accounting for People 2.0: The Business Case for Human Capital Reporting drew together over 25 business leaders and comprised interactive discussions led by HPA and HubCap's CEO Dr Michael Reddy, with Tim Hoad and Richard Phelps on Financial Reporting; Raj Thamotheram and Ali Gil on Investing; and Morgan Witzel and Ann Graham on Alternative Business Models.
Participants were invited to collaborate on HubCap, where a series of expert papers have been uploaded to aid deliberations (papers included in the forthcoming Human Capital Handbook 2011). The aim is to coalesce thinking into a far-reaching proposal for legislative change: an AfP 2.0 People Reporting Framework, which will be submitted to the Government by December 2011.