Finance and accounting have assumed much importance in today's competitive world of business wherein corporate organizations have to show the true and fair view of their financial position. In this context, cost and management accounting, which was developed due to limitations of financial accounting, becomes an indispensable discipline for corporate management, as the information collected and presented based on cost and management accounting techniques helps the management to solve not only specific problems but to make intelligent decision making. This book deals comprehensively with the elements of cost accounting, their application to costing methods, and their significance for management through budgetary control, short term decision-making, and capital budgeting. It is an extensive revision of the author's well-known costing text, and provides the student with a complete introduction to cost accounting. It promotes a thorough understanding of cost accumulation, cost analysis and cost control. Consideration is also given to the use of costing information for the planning and formulation of business policy.

Business