Business Models and Cost Management in Growing Crops

Authors

  • Krishnan Narayanan Practicing Cost Accountant, Hyderabad

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Abstract

Business models outline how to create and deliver value for its customers. It defines the core elements like value proposition, target market, revenue streams, and cost structure. In agriculture, they help farmers and agricultural businesses to optimize resources, enhance efficiency and contribute to the overall profitability of the farming operation. There are many business models, but here specific ones to growing crops are explained. The role of a Cost and Management Accountants is integral to the success of a business model; they help in designing and implementing a costing system by identifying the cost elements, classifying them and allocating them to different products or activities to arrive at the cost of production and also develop strategies to reduce costs and optimize profits.

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Published

2024-08-23

How to Cite

Narayanan, K. (2024). Business Models and Cost Management in Growing Crops. The Management Accountant Journal, 59(8), 50–55. Retrieved from https://icmai-rnj.in/index.php/maj/article/view/173621

Issue

Section

Cover Story

References

National Bank for Agriculture Mumbai and Rural Development - Farmer Producer Organisations

www.jananiagriserve.com/agritech/

www.seedtospoon.net/

www, azulunafoods.hub-and-spoke-farming-model

Price Forecasting of Tomatoes - A. Amarender Reddy

Concept Note on Augmenting the Farmers; Income - Road Map for CMAs

Generally Accepted Cost Accounting Principles issued by the Institute

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