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Accounting has been important throughout history and in all forms of economic structures. It continues to evolve and respond to changes in informational needs of its users. Basically, there are two types of users of accounting information – external users and internal users. Though financial accounting are meant only for internal users i.e. management, yet financial accounting information is also used by internal users. This is because the management needs all types of accounting information for efficiently performing its functions of planning, controlling and decision making. The present volume is designed to meet the need of management for knowledge of accounting. Managers and potential managers should have thorough understanding of all types of accounting i.e. financial accounting, cost accounting and management accounting. Keeping this in view, this volume is divided into four sections in logical sequence. Section I deals with basics of financial accounting, Section II explain analysis and interpretation of financial statements prepared under financial accounting, Section III deals with fundamentals of cost accounting and Section IV explain basic techniques used in management accounting. Contents - Section 1 : Basic Financial Accounting 1. Introduction to Accounting 2. Accounting Principles 3. Accounting Process 4. Subsidiary Books 5. Rectification of Errors 6. Bank Reconciliation Statement 7. Final Accounts (Financial Statements) 8. Depreciation, Provisions and Reserves 9. Inventory Valuation Section 2 : Analysing Accounting Information 10. Methods of Financial analysis 11. Financial Ratio Analysis 12. Funds Flow Statement 13. Cash Flow Statement Section 3 : Cost Accounting 14. Cost Accounting - Nature and Scope 15. Basic Cost Concepts 16. Cost Sheet and Price Quotations 17. Process Costing 18. Reconciliation of Cost and Financial Accounts Section 4 : Management Accounting 19. Management Accounting - Introduction 20. Budgeting and Budgetary Control 21. Standard Costing and Variance Analysis 22. Marginal Costing and Break-even Analysis 23. Strategic Decision Making 24. Responsibility Accounting and Transfer Pricing 25. Recent Development in Cost Management
