This course emphasizes the use of accounting information in effective decision making resulting in effective management. For effective decision making we need timely, relevant and accurate information and for effective management we need critical analysis skills. This course is objectively focused on such information and such skills. The first part deals with an introduction to management accounting, the purpose of management accounting and a comparison of management and financial accounting. The second part deals with an understanding of basic cost terms and concepts, cost reports, cost behavior, overview of costing systems including job order costing, process costing, marginal and absorption costing and detailed discussions about, cost-volume profit analysis, activity based costing (ABC costing), relevant costs for decision making and pricing of products and services. The third part deals with budgeting for managers.