This book provides an in-depth and insightful analysis of the modern theories and practices of the Cost and Management Accounting and is widely used as a text book. Though the book has been written for Postgraduate and Undergraduate students of Commerce and Management, it would also be immensely useful for students pursuing professional courses offered by the Institute of Chartered Accountants of India (ICAI), Institute of Cost and Management Accountants of India (ICMA), Institute of Company Secretaries of India (ICSI) etc