Introduction to Management Accounting

Introduction to Management Accounting is a practical and comprehensive guide to the basic concepts and principles of managerial accounting. This book will be invaluable to those seeking foundational knowledge of the current terminology used and the concepts applied in this subject. The purpose of this book is to provide students with a basic knowledge of the role of the financial manager and the function of the cost accountant. Furthermore it provides the student with an introduction to managerial accounting, analyses cost elements, explores how inventory, labour and overhead costs are controlled and illustrates how the accounting records of a manufacturing enterprise are completed. One of a financial managers important tasks is to determine how much money was spent on each applicable job, process or contract that has been completed. To this end, the principles of job costing, process costing and contract are also addressed.