This book has been designed to discuss the fundamental concepts and principles of cost & management accounting. It is an all-encompassing resource intended for students and professionals pursuing B.Com., BBA, M.Com., MBA, CA Inter, CMA Inter, and CS Executive courses.

It covers 30 chapters, presenting a structured approach from foundational concepts like cost classification and material procurement to advanced topics such as Activity-Based Costing, Variance Analysis, and Capital Budgeting.

With a focus on practical learning, each chapter includes solved problems, theoretical review questions, and real-world applications to reinforce understanding. The book also incorporates the latest updates in Cost Audit Rules, Strategic Cost Management, and modern techniques like Zero-Based Budgeting. Industry-specific insights into Service Costing, Process Costing, and Job Costing make it a versatile guide.

The Present Publication is the 6^th Reprint Edition, authored by Ravi M. Kishore, with the following noteworthy features:

• [Exhaustive Coverage]
  • Covers the full spectrum of cost and management accounting topics, ensuring clarity across foundational and advanced concepts
  • Bridges theoretical frameworks with their practical applications for a balanced understanding
• [Practical Problem-Solving Focus]
  • Includes a wide array of practical problems, accompanied by detailed solutions, to solidify understanding and boost problem-solving skills
  • Incorporates real-world scenarios for students and practitioners alike
• [Simplified Learning Aids]
  • Features visual tools like diagrams, flowcharts, and tables to clarify complex ideas
  • Each chapter ends with theoretical review questions to reinforce understanding
• [Aligned with Modern Practices]
  • Integrates current updates in Cost Audit Rules, Strategic Cost Management, and other regulatory advancements
  • Discusses cutting-edge techniques like Activity-Based Costing (ABC) and Zero-Based Budgeting (ZBB) for contemporary relevance
• [Customisable for Various Levels]
  • Designed to meet the needs of students across different academic programs and professionals preparing for certification exams

The structure of this book is as follows:

• Foundational Concepts – Chapters like Cost Classification, Direct Material Procurement, and Direct Labour Remuneration build a strong base
• Key Techniques – Learn cost allocation, process costing, and variance analysis to make informed business decisions
• Advanced Analysis – Understand modern methodologies like Marginal Costing, Budgeting and Control, and Capital Budgeting
• Industry-Specific Costing – Detailed analysis of niche domains like Transport Costing, Hotel Costing, and Service Costing
• Financial Analysis Tools – Practical guidance on Ratio Analysis, Funds Flow Analysis, and Cash Flow Analysis
• Audit and Compliance – Comprehensive coverage of Cost Audit, Management Audit, and Regulatory Frameworks