Management Accounting

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Management Accounting is a comprehensive textbook specially designed to meet the needs of management students. It explores core concepts of management accounting through managerial applications and supplements them through numerous solved problems and case studies. Divided into five parts, the first part on Cost and Management Accounting gives an overview of management accounting and acquaints the readers with the basic principles of cost accounting, costing, cost accountancy, and its differentiation with financial accounting. The second part covers Elements of Cost, which emphasizes the recognition of compilation of material costs for products, different material control procedures and techniques, labour cost compilation, recognition and booking. It also focuses upon the importance and treatment of indirect expenses of the business. The part on Determination of Cost is devoted to determining and compiling the cost by service and manufacturing activities. It is followed by the part on Planning, Controlling, and Decision-Making, which discusses the analytical tools of financial accounting, cost accounting, and management accounting. Finally, the section on Management Applications imparts an understanding of the management accounting tools and techniques used by managers in the present business environment. Students and business managers will find this book highly useful for its in-depth coverage of the key concepts of management accounting and also as a guide to make informed and systematic business decisions.Key FeaturesHas been written in simple and easy-to-understand language Focuses on the uses of accounting information to resolve different managerial issues emerging in different organizations Provides numerous illustrative problems for better understanding and application of management accounting tools and techniques Contains real-world cases to stimulate students’ interest and to provide a springboard for classroom discussions In the CD Spreadsheets containing a few illustrations from the book and solutions of selected unsolved problems Cost accounting standards of India available till date A brief summary of cost accounting standards in USA The legal framework of cost accounting report (the rules, the format, and a list of industries that maintain these reports)

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Paresh Shah is Visiting Professor at several reputed institutions such as the GH Patel Post Graduate Institute of Business Management, IIPM, and Wigan and Leigh College, Ahmedabad. He has also served as Assistant Professor, Institute of Management, Nirma University, Ahmedabad. He is the author of Basic Financial Accounting for Management (OUP).Table of ContentsPerfacePart 1 Cost and Management Accounting 1. Overview to Management Accounting 2. Cost Concepts Part 2 Elements Of Cost 3. Material Costing 4. Labour Costing 5. Direct Expenses and Overheads Part 3 Determination of Cost 6. Unit Costing 7. Job and Batch Costing 8. Operating Costing 9. Contract Costing 10. Process Costing Part 4 Planning, Control, and Decision-Making 11. Financial Statement Analysis 12. Budgeting and Budgetary Control 13. Standard Costing and Variance Analysis 14. Responsibility Accounting 15. Cost Audit and Cost Accounting Standards Part 5 Management Applications 16. Marginal Costing and CVP Analysis 17. Decisions Involving Alternative Choices 18. Pricing Decisions 19. Activity Based and Target Costing 20. Capacity Management and Learning Curve 21. Contemporary Issues in Management Accounting Select Bibliography Index