The Monetary Measurement Concept
Response to the following problem:
Many successful companies, such as Ford Motor Company, ExxonMobil, and Marriott Corporation, readily acknowledge the importance and value of their employees. In fact, the employees of a company are often viewed as the most valued asset of the company. Yet in the asset section of the balance sheets of these companies there is no mention of the asset Employees. What is the reason for this oversight and apparent inconsistency?