Even though accounting for an organisation's human resources was first discussed more than thirty years ago, it is yet to be recognised in mainstream accounting. This paper reviews the history of accounting for human resources and provides support for the continuing development and adoption of the paradigm. Along the way the excuses of an earlier era are refuted and propositions made to legitimise human resource accounting in the next epoch. The accounting profession is challenged to examine its current myopic approach to the provision of decision-making information. It is suggested the profession develop a more inclusive, socially acceptable information system, which includes accounting for human resources, that has its foundation in the measurement of the value created by an organisation for the economic sustainability of itself and its stakeholders.

Geoff has been teaching accounting and finance since 1990 in Australia, Hong Kong and the United Kingdom. He arrived at Kingston in May 2003 to take on the role of Program Director of the postgraduate accounting and finance suite. He teaches Management Accounting on those programs and supervises PhD and DBA students, most of whom are researching the social and environmental aspects of accounting. His research interests lie primarily in performance measurement in organisations and performance reporting to stakeholders with a special interest in the Global Reporting Initiative. His PhD thesis, completed in 2000, was entitled Balancing the balanced scorecard: a new role for human resource accounting in sustaining the knowledge-based organisations of the future. Prior to joining academia, Geoff held senior financial management posts in Australian subsidiaries of multinational organisations and he continues to work with industry in a consulting role.