THE COLONIAL ECONOMY AND HUMAN RESOURCE ACCOUNTING IN WEST AFRICA

Abstract

This paper aims at explaining how human resource accounting as a concept and practice evolved in the colonial economy of West Africa. The majority of West African territories were colonized in the 19th Century. Before then, the Africans had their traditional economic systems. With the advent of colonialism, the traditional economy of West African states was submerged and an economic system that served colonial ends – the colonial economy, was imposed. Under that economy, West Africa witnessed a transformation in its human resource utilization and accounting practices. However, although companies and governments kept records, they were unwilling to disclose them because under the colonial economy, African labour was unduly exploited. Although the paper agrees that the level of sophistication of an economy or an economic system determines the mode and level of development of its human resource accounting practice, it however, aims at finding out more fundamental reason for the hesitation of companies in West Africa to disclose their human resource accounts. Secondary sources of information are used for this research. These are qualitatively analyzed using a descriptive and narrative approach. The study finds that the hesitation on the part of corporate entities in the post-colonial West African economy to disclose human resource account details in financial reports is not totally caused by lack of know-how or methods. Rather, it is a perpetuation of the colonial era manifestation of lack of mind of integrity and a ploy to avoid being held accountable for the better treatment of labour by employers.