With the rise of the ‘knowledge economy’, the traditional valuation of an enterprise as consisting solely of measurable assets, such as buildings, equipment and inventory, is increasingly being questioned. Human capital, although widely recognised as an important component of an enterprise’s total value, does not appear on a statement of financial position (balance sheet).Discuss whether or not you believe human capital should be assessed and reported in the financial statements. Identify how you are defining human capital. What difficulties might be encountered in attempting to quantify and record this (these) asset(s)? If recorded, would such values remain constant or be subject to change?1000 words

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