Introducing the first level student to finance, this book presents the fundamentals of financial accounting including the balance sheet, cash flow, ratio analysis and costing methods. It goes on to look at management accounting, and covers standard costing and budgetary control, inflation accounting and risk reduction in fund raising. New material included in this edition includes chapters on the sources of finance, computing and finance and a discussion of activity based costing and off balance finance. The text is aimed at non-financial professionals, students majoring in other disciplines and students in finance and accounting at degree and HND level.