OFPS Cost and Management Accounting is specially written for the Cost and Management Accounting course at all polytechnic institutions. It helps students to acquire the fundamentals of management accounting. The first part of the book covers cost-related topics such as the elements of cost, raw material and store organization, and labour and waste analysis. The book then moves on to discuss management accounting topics such as variance analysis, budgeting and cost volume profit analysis. Ultimately, this book will help to equip students for the real world by enabling them to make informed decisions, manage businesses effectively and improve performance.