Role Of Management Accountant in Primary Sector-Producer companies and commercial agriculture business.

Management Accountant-an accountant of the future for Governance-Both Corporate world and the Governm
"Primary produce" means—
(i) produce of farmers, arising from agriculture (including animal husbandry,
horticulture, floriculture, pisciculture, viticulture, forestry, forest products, re-vegetation,
bee raising and farming plantation products), or from any other primary activity or
service which promotes the interest of the farmers or consumers; or
(ii) produce of persons engaged in handloom, handicraft and other cottage industries;
(iii)any product resulting from any of the above activities, including by-products of
such products;
(iv)any product resulting from an ancillary activity that would assist or promote any
of the aforesaid activities or ‘anything ancillary thereto;
(v) any activity which is intended to increase the production of anything referred to in
sub-clauses (i) to (iv) or improve the quality thereof;
(j) "Producer" means any person engaged in any activity connected with or relatable
to any primary produce;
(k) "Producer Company" means a body corporate having objects or activities specified in
Rules under section 214 and registered as Producer Company under this Act;
(l) "Producer institution" means a Producer Company or any other institution having
only producer or producers or Producer Company or Producer Companies as its
member whether incorporated or not having any of the objects referred to in Rules
under section 214 and which agrees to make use of the services of the Producer
Company or Producer Companies as provided in its articles.
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A management accountant is an ideal individual with critical tools to analyse and report on the strategic decisions of a producer.Since the producer is often under the influence of Nature(its vagaries)government(its patronising of a particular produce)Lending institution(funding produce)and market(studying demand pattern)Management accountant is a true agricultural accountant for he does not limit his area to collect data on receipts and payments.
The nature of business here demands trend forecasting,crop pattern suggestion based on nature based cost forecast,Produce or discard decision seasonally,Use of fertilizer and other material based on monsoon pattern where cost control can occur.
Costing of handloom products,sericulture etc is highly suggested since these companies operate on a thin margin.
Setting up internal control and periodical audit by management accountant will go a longway in energising these business in the longrun.