The large scale industrial production has resulted in widening the area of managerial supervision. The management has to depend upon accounting information for taking various strategic decisions. Financial Accounting provides necessary accounting information to the management. The information is made useful by analysis and interpretation of financial statements with the help of Management Accounting. Management Accounting, in the present day, has become an integral part of business. It helps management in planning, coo-ordinating, communicating and controlling. The subject of Management Accounting is of recent origin but still it is not in infancy.

The area covered in this subject is very wide. We had written earlier a book ‘Management Accounting – Principles and Practice’ which covered almost all the topics on Management Accounting, Cost Accounting and Financial Management. The 12^th Edition of this book was published in 2011. For the benefit of students we had also brought out the book ‘Practical Problems in Management Accounting and Financial Management’.

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