The seventh edition of Management Accounting continues to offer its readers an in-depth analysis of how to use accounting information for financial analysis, profit planning, cost control and decision making. It provides comprehensive analysis of the concepts, theories and techniques of management accounting in a simple and lucid style with an outcome based learning techniques consisting of content tagged with learning objectives and various levels of difficulties.

Designed primarily for the students and teachers of management and finance, this book will also be suitable for the teachers and students of commerce and accounting domain as well as practicing managers.

Part 1 Background

Nature of Management Accounting

Part 2 Financial Accounting

2. Generally Accepted Accounting Principles and Accounting standards

3. Accounting Cycle and Statements of Financial Information

4. Understanding Corporate Financial Statements and Reports

Part 3 Financial Analysis

5. Cash Flow Statement

6. Financial Statements Analysis

Part 4 Cost Accumulation

7. Cost Concepts and Management Needs

8. Costing and Control of Materials

9. Costing and Control of Labour

10. Costing and Control of Factory (Manufacturing) Overheads

11. Costing and Control of Administrative, Selling and Distribution Overheads

12. Activity Based Costing System 13. Job-order, Batch and Service Costing

14. Process, Joint and By-product Costing

15. Variable Costing and Absorption (Full) Costing

Part 5 Profit Planning

16. Volume-Cost-Profit Analysis

17. Budgeting and Profit Planning

Part 6 Cost Control

18. Standard Costs and Quality Costs

19. Cost Variances Analysis

20. Revenue and Profit Variance Analysis

21. Responsibility Accounting

22. Balanced Scorecard

Part 7 Decision-Making

23. Short-run Decision Analysis

24. Capital Budgeting