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The book has been specifically written for business students. It not only teaches principles, procedures and techniques of business accounting that are required for the collection, analysis and use of accounting information but also attempts to make the reader proficient in the application of accounting tools and techniques for managerial decisions. A distinctive feature of the book is that it aims at maintaining a balance between conceptual and practical approaches to accounting. Each chapter contains numerous questions and problems which are designed to reinforce concepts, procedures and techniques. Salient Features Requires no prior knowledge of accounting Suitable as a self-study book Explains complex issues in a simple way Integrates theory with real-world practice New In Second Edition Reorganisation of text under graded sections. Chapters on Differential costing, Activity-based costing, Pricing policy and decisions, and Emerging trends in management accounting. Learning tools in the form of chapter objectives, highlighted key terms, chapter summary, further reading references. Larger number of solved and unsolved problems. Topical Indian case studies. About the Author Dr Musadiq A Sahaf is Professor and Director, The Business School, University of Kashmir, Srinagar. Earlier he was Professor and Dean, Faculty of Business Administration, American University of Asia, Sharjah (UAE). He has about three decades of experience in teaching, research and management training. Dr Sahaf is the author of several books, articles and papers. He is a consultant to various organizations, and has made several presentations to industry and academic groups. Table of Contents Part I: Management Accounting Fundamentals: Nature and Scope of Management Accounting Accounting Process and Principles—An Overview Cost Analysis Inventory Costing Part II: Accounting for Financial Analysis: Analysis of Financial Statements Ratio Analysis Statement of Changes in Financial Position Cash Flow Statement Part III: Accounting for Managerial Decisions: Marginal Costing Break-even Analysis (Cost-volume-profit Analysis) Differential Costing: An Aid to Decision Making Activity-Based Costing Pricing Policy and Decisions Part IV: Accounting for Planning and Execution: Budgetary Control Standard Costing Capital Budgeting Risk and Uncertainty Management Reporting Part V: Performance Measurement and Evaluation: Responsibility Accounting Divisional Performance and Transfer Pricing Part VI: Specialized Topics in Accounting: Valuation of Goodwill and Shares Inflation Accounting Human Resource Accounting Emerging Trends in Management Accounting Appendix Index