A primer on the basic theoretical concepts and the practical procedures of financial record keeping and reporting, and the use of financial and cost data in managerial decision making. It provides an understanding and working knowledge of the fundamentals of financial and managerial accounting that can be put to practical application in day-to-day jobs of managers. It also concentrates on providing a working vocabulary for communication. Topics include accounting principles and reporting trends, accounting conventions and systems, interpretation and analysis of financial statements; cast flow statement; break-even analysis; activity-based costing (ABC); responsibility accounting; budget for profit planning; short-term and long-term investment decision making. A list of computer software for accounting, ABC, and budgeting is presented.