Notes on a collection of birds from northeastern Colombia

Abstract

This article focuses on an article written by Bikki Jaggi and Hon-Shiang Lau, published in an earlier issue of the journal "The Accounting Review," as of April 1975. Jaggi and Lau had evaluated human resource valuation models and presented a new model based on the actuarial concept of homogeneous group and Markov analysis. The purpose of this article is to review briefly Jaggi and Lau's model and to suggest an alternative formulation of it that requires fewer calculations while avoiding the issue of materiality. The objective of Jaggi and Lau's model is to determine the economic value of the services that will be rendered an organization by its current employees. To accomplish this objective the model incorporates data on the historical movement of groups of employees within an organization into a rank transitional matrix and uses this matrix to predict the career movements of similar groups currently within the organization. The value of the services an organization's current employees render in a future period is computed by multiplying the model-determined estimate of the number of current employees that will be in each service rank in that period by the value of the services an employee in each rank renders the organization.