Issue in Accounting 03 - Identifying and measuring data about human resources The American Association of Accountants (AAA) defines HRA as follows: 'HRA is a process of identifying and measuring data about human resources and communicating this information to interested parties. Human resources are considered as important assets and are different from the physical assets. Physical assets do not have feelings and emotions, whereas human assets are subjected to various types of feelings and emotions. In the same way, unlike physical assets human assets never gets depreciated. The valuations of human resources along with other assets are also required in order to find out the total cost of an organization. In 1960s, Rensis Likert along with other social researchers made an attempt to define the concept of human resource accounting (HRA). Required: How best you can justify that human resource accounting is significant in the today's world. Arguments in favor and arguments in against should be equally reflected in your discussion and presentation. (Hint: Reference to the Sector/industry/company/product/service is equally required