Textbook aims to provide comprehensive management accounting principles and techniques. Intended for undergraduate students and professional exam preparation. No prior financial accounting course required
Cost accounting measures and controls costs in manufacturing and service delivery. Costs are categorized as direct (materials, labor) and indirect (overhead). Cost accounting helps companies determine exact product/service costs
NRV calculates asset value by subtracting selling costs from expected sale proceeds. Used in both GAAP and IFRS accounting standards. Follows principle of conservatism to avoid overstating asset values
Cost accounting focuses on business costs and their structure. It helps managers and employees improve profitability and efficiency. It provides detailed insights into business spending patterns
Tax accounting helps businesses comply with IRS regulations and develop tax strategies. Financial accounting tracks transactions and prepares external financial statements. Management accounting provides internal financial reports for business leadership. Cost accounting focuses on direct materials, labor, and overhead costs
CMA exam consists of two parts totaling 4 hours each. Each part contains 100 multiple-choice questions and 2 essay scenarios. Time management crucial: 3 hours for MCQs, 1 hour for essays