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Management Accounting shows how accounting information is organized and reported internally to managers and how managers use accounting information for planning, organizing, decision-making and controlling. The book written, in a non-technical simple language, emphasizes the practice side of accounting with numerous examples and cases. Each topic starts with a situational analysis that highlights the relevance of the topic. Examples and cases reflect real-life situation that allows managers to easily connect themselves with the situation in their organizations. The book covers product costing, activity-based costing, cost analysis for decision-making, budgeting and variance analysis. Managers use detailed cost data extensively, and the chapters on product costing and activity-based costing explain how cost data is compiled in different types of industries with comprehensive illustration. Managers are required to take decision under various situations and the chapter on cost analysis for decision-making sows several decision-making areas and how managers take decision under these situations. Budgets guide the organization to achieve the goals and variance analysis helps the managers to analyze and control deviation from the budget. The book is relevant for MBA students as well as non-finance managers who are keen to know how they can use accounting information in their jobs. The book is relevant for entrepreneurs as well who want to design a good internal accounting system and use the accounting information for planning, decision-making and controlling.
