Managerial Accounting covers a wide variety of managerial uses of accounting data. In line with the ever-changing, dynamic nature of the subject, the Institute of Management Accountants (IMA) has established the Certified Management Accountants (CMA)., which is being widely recognized by academicians as well as practitioners. This book is written with the following objectives in mind: 1. It supplements formal training in management accounting courses at the undergraduate and graduate levels. It may well be used as a study guide. 2. It provides excellent preparation and review in the cost/managerial accounting portion of such professional examinations as the CPA, CMA, SMA, and CGA examinations. 3. Financial accounting is not a prerequisite. Without much knowledge of financial accounting, students and practitioners engaged in fields other than accounting can gain knowledge about managerial accounting.