This new edition of a popular text provides an introduction to cost and management accounting for students. The text is conceptually based and allows students to develop a practical knowledge of management accounting based on sound principles. The contingency approach emphasises that the selection of management accounting techniques is conditional on management's purpose. A running case study approach, based on a management accounting consultant, brings issues to life for students and allows for a real-life perspective on accounting. Throughout the text, examples, questions and problems allow students to practise the application of theory and techniques. This new edition includes many more questions and answers in an expanded Lecturer's Guide. The book has been designed to be the appropriate level and length for a new-style modular first year programme in management accounting.