Sample Essay
The benefits of the proposed solutions pertain to the fact that they encourage a more accurate costing system which is based on the products and services being produced and employed in the business. The understanding of the overhead in the business is identified through the proposed solutions while then waste is considerably reduces by eliminating non value adding items.
The proposed solutions make use of the six sigma concepts that contribute towards continuous improvements while the process of benchmarking is made feasible through the proposed management accounting systems. The way works is conducted in the business is reflected in the proposed solution which helps them to be more relevant and easy for use by the farmers employed in agriculture business. Another reason as to why the agriculture business oriented entrepreneurs might find the proposed solution helpful is because they highlight the costing on the basis of the processes employed, the supply chains and the value streams that exit in the business.
However, simultaneously some drawbacks also exist for the proposed systems. These drawbacks relate to the additional cost that is incurred for the management of the managerial accounting system which can be complicated and expensive for farmers where they do not used experienced or professional finance management. Aside from this the data that needs to be collected for use in the managerial costing solutions proposed in the case can be very time-consuming therefore affecting the business for the farmers where time is usually of the essence when they work with minimal hands.
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