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Explain whether employees are considered assets of a company

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Question - "Employees are your most valuable assets. They are the heart and guts of a company." Carlos Ghosn, the disposed chairman and CEO of the Renault-NissanMitsubishi Alliance, once said. However, employees are not listed as an asset in the statement of financial position of the company. Required: Using the definition and recognition criteria of an asset under the conceptual framework of the Australian Accounting Standard Board (AASB), explain whether employees are considered assets of a company.

Reference no: EM132605449

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