An introductory text that covers both financial accounting and cost and management accounting. Designed to equip students with a sound basic knowledge of both accounting fields. Includes new topics such as labour- standard costing and time value of money. Aimed at students with little or no prior accounting background. Contents include the following: • Drawing up a basic financial statement • Interpreting financial statements using ratio analysis • Calculating the cost of products • Preparing budgets • Short-term decision making