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With traditional business reporting focused solely on financial and operational factors, Manulife took on the challenge to define and measure the value of its human capital.
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Manulife has invested in a technology training program for employees—a critical step to achieving their goal of becoming a digital, customer-centric insurance and wealth management company.
However, with no straightforward way to measure the cost or value of intangible assets like human capital, Manulife's plan to demonstrate the benefit of investment to the individual and the co-relation to Manulife's human capital over time, could prove to be challenging.
To address this measurement gap, Manulife's finance team took on the task of developing an income-based framework to estimate the value of its human capital.
The framework they developed is based on the A4S Essential Guide to Social and Human Capital Accounting and is detailed in this worked example.
If your organization is interested in embarking or implementing a similar valuation strategy, read this worked example for information on their business case, methodology, implementation, results and best practices.
It’s said that a crisis brings out the best in people and, in most cases, that’s true. But there is a dark side to tough times, as fraudsters prey on people who are uncertain and looking for easy answers.
March 18, 2020
The federal government’s actions and fiscal support to address the widespread and devastating economic fallout of the COVID-19 pandemic are welcomed by Chartered Professional Accountants of Canada (CPA Canada).
Listen to this special edition Practitioner’s Pulse webinar where we answer some frequently asked questions around practice management issues and some key financial reporting and auditing implications of COVID-19.