Management Accounting : Text, Problems and Cases provides a practical introduction to the application of financial analysis principles and methods to aid in business management and decision making. Summary Of the Book Accounting information can be used in many different ways. It can be used to provide information that can help managers in making decisions and also in defining long term goals and directions for the organization. Management Accounting : Text, Problems and Cases covers this aspect of accounting information in detail. It first explains the Nature of Management Accounting. Then, the book deals with financial accounting and analysis methods for decision making in seven parts. The second part focuses on Financial Accounting. It goes into the generally accepted accounting principles and standards. It explains accounting cycles and financial statements. The third part, Financial Analysis, covers cash flow statements and analysis of financial statements. The next part explains Cost Accumulation. It examines the needs of cost concepts and costing in various aspects of management, like control of labour, and materials. The book then discusses Profit Planning. It explains budgeting and profit planning and volume-cost-profit analysis. The sixth part covers Cost Control concepts like standard and quality costs, variance analysis, and responsibility accounting. The final part covers Decision Making. It looks at capital budgeting and short-run decision analysis. This edition of Management Accounting : Text, Problems and Cases has additional information on accounting standards, cash flow statements, and understanding corporate financial statements. It has a new section covering service costing. The book also includes numerous case studies that help in gaining a deeper understanding of the concepts. The book is written in a simple style. About The Authors P. K. Jain is a professor and a writer. He has written other academic textbooks like Cost Accounting and Financial Management, Basic Financial Management, Derivative Markets in India: Trading, Pricing and Risk Management, and Theory and Problems in Financial Management. P. K. Jain is a professor of Finance in the Department of Management Studies at the Indian Institute of Technology, Delhi. He has over 25 years of research and teaching experience. He has also been the Head of the Department of Management Studies. M. Y. Khan has extensive teaching and research experience. He has also co-authored Basic Financial Management, Indian Financial System, and Cost Accounting and Financial Management. M. Y. Khan is a professor of Finance at the University of Delhi. He is a former Dean and Head of the Department of Finance Studies at the University. He has a doctorate in Industrial Finance and has over three decades of experience in teaching and in research.

Table of Contents:
Chapter 1. Nature of Management Accounting Chapter 2. Generally accepted Accounting Principles and Accounting Standards Chapter 3. Accounting Cycle and Statements of Financial Information Chapter 4. Understanding Corporate Financial Statements and Reports Chapter 5. Cash Flow Statement Chapter 6. Financial Statements Analysis Chapter 7. Cost Concepts and Management Needs Chapter 8. Costing and Control of Materials Chapter 9. Costing and Control of Labour Chapter 10. Costing and Control of Factory (Manufacturing) Overheads Chapter 11. Costing and Control of Administrative, Selling and Distribution Overheads Chapter 12. Activity Based Costing System Chapter 13. Job-Order, Batch and Service Costing Chapter 14. Process, Joint and By-Product Costing Chapter 15. Variable Costing and Absorption (Full) Costing Chapter 16. Volume-Cost-Profit Analysis Chapter 17. Budgeting and Profit Planning Chapter 18. Standard Costs and Quality Costs Chapter 19. Cost Variance Analysis Chapter 20. Revenue and Profit Variance Analysis Chapter 21. Responsibility Accounting Chapter 22. Short-Run Decision Analysis Chapter 23. Capital Budgeting