This book is addressed primarily to :

Students of all three Professional Institutes namely- Cost and Management Accountants, Chartered Accountants and Company Secretaries.

Members of ICAI- CMA, ICAI and ICSI – Both in Employment and in Practise

Corporate Executives

Industrial Engineers

Energy Auditors

This book is divided into nine parts :

Application of Cost Accounting Principles to Ascertain Various Cost Elements

Application of Cost Accounting Principles to Allocate, Apportion and Absorb Various Cost

Elements

Importance of Proper Allocation, Apportionment, and Absorption of Various Cost Elements

Check List to Build Up Cost Sheets

Under Standing Cost Sheets

Operating Budgets

MIS Reports to Monitor, Control & Reduce Various Cost Elements

Inventory Management and Control

Check List to Audit Various Cost Elements

The contents of the book will indicate to the reader where to look for the topic that is bothering him the most. The needs, priorities and experiences of the various users of the book are not likely to be identical. Some may find chapter on MIS Reports useful whereas some others Check List of Audit more useful.

The Formats included in the book are suggestive which are result of author's industrial experience of more than 30 years. The Users of the book may modify their design and contents to suit their specific requirements.

This book will be a welcome addition to the literature in cost and management accounting and auditing and will make significant contribution as a discipline like any branch of management. I am certain that this book will be found useful not only to the both CMAs in Employment and CMAs in practice  but also to other professionals like CA/ CS and managers dealing with accounting and costing.