Question
I am a managerial accountant in a company which manufacturer gold chains in a traditional way. Now, our company is going to implement high-tech production
I am a managerial accountant in a company which manufacturer gold chains in a traditional way.
Now, our company is going to implement high-tech production process by employing high-tech automated machines. I need to write a memo to our higher authority to give them an idea: How the change (traditional to modern production process) would impact on the overall Accounting or Managerial Accounting system in the company? I also need to write an analysis report about the MA changes that would be necessary, and why such necessity.
You need consider typical MA tasks, e.g. decision making, planning and control, and think how such changes of production process could impacts on your MA tasks.
For example, (first) you would write: what decision do I need to make and how differently Id make decision in this modern company (hints: strategic decision to reduce the cost, improve quality, compete with competitors and so on).
Second typical duty of management accountant is planning. You have to think about the need of any new plan for new/high tech machine-oriented production. You can think about changing plan for (example) labor cost, inventory management, quality improvement, distribution, profitability, etc.
Third, you also need to think of bringing appropriate control in such high-tech organization. What control youd bring, where and why (you need to align them as per your decision and plan).
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