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In the present global, knowledge-based, and e-business environment, cost accounting has witnessed remarkable changesIt has sought to take on technology and offer new solutions to cost-quality problems in industryFrom being a system for measuring and controlling costs, its principal focus has now shifted to managing costs, both at the pre- and post-production stagesInstead of mundane cost determination, it is strategic cost management which dominates the discussion in corporate board meetingsIt is this paradigm shift that has necessitated the writing of this book This comprehensive, profusely illustrated book is intended as a text for students of B.Com., B.Com(Hons.) and BBA coursesFor those aspiring for professional qualifications like Chartered Accountancy, ICWA, and MBA, it will serve as an excellent introductory text The instructors, in their turn, will immensely benefit in as much as it represents a balanced treatment of conceptual and managerial issues The book, with its student friendly approach, should prove to be a trendsetter in the Indian context.