The third edition of this revised and fully updated text continues to provide students with a clear and well-structured introduction to management accounting within a sound framework of basic principles. It covers the management accounting section of the author's "Financial and Management Accounting", third edition, retaining the same page numbering, commencing at Part 6, Chapter 16, for those students not requiring Volume I on financial accounting. The new edition retains all of the classic features that have contributed to the book's success: clarity of expression, the focus on the accounting equation, student activities and real-life commentaries running through each chapter, and case studies for group discussion that encourage students to think about everyday experience of cost-related issues. Simulation of first-hand commentary by a management accounting consultant brings issues to life for students, providing a real-life perspective on accounting. With its wealth of examples, questions and problems, the emphasis throughout the text is on allowing students to practise the application of theory.