Human Resource Accounting Costs Disclosure and quoted Performance of Upstream oil and gas in Nigeria

The transformation of modern economies from services to information and knowledge-based requires some modification to accounting and reporting procedures. The fast growth of service organizations in the 21^st century, whose major asset is the human capital and the intellectual ability of their work force, prompted the need to look into issues surrounding the capitalization of human resource expenditures. This aim of this study is to empirically explore the relationship between human resource accounting cost disclosure and quoted performance upstream oil and gas companies in Nigeria. Data were collected from central bank of Nigeria, Federal Inland Revenue Service and Financial Statements of upstream oil and gas companies  on Nigerian Stock Exchange. Descriptive Statistics, Ordinary Least Square regression analysis, inter-correlation test, unit root test, multicollinearity, test and Error Correction Model were used in analyzing the study data with the aid of E-view version 10. The result indicate that human resource accounting cost disclosure  significantly relate to quoted performance, explaining about 88.1% of total variation in return on equity, all the sub-variables of human resource accounting cost disclosure were each found to significantly relate to quoted performance, sustaining short run equilibrium relationship with return on equity. We therefore conclude that human resource accounting disclosure relate to quoted performance and recommends that quoted service (upstream oil and gas companies in Nigeria should imbibe the culture of capitalizing and reporting  all expenditures/investment on human resource accounting cost disclosure that can improve their quality and productivity. There should be a minimum standard of disclosuring and reporting human resource value in the financial statements of services companies especially in the statement of financial performance and notes to the accounts