This well-established and widely adopted textbook, now in its 14th edition, continues to provide an in-depth and insightful analysis of the modern theories and practices of Cost Accounting. That the book has gone into its 14th edition and several reprints is a testimony of its wide acceptance by the students, academics and professionals. Primarily intended for postgraduate and undergraduate students of Commerce and Management, the book will be of immense benefit to the students pursuing professional courses offered by the Institute of Chartered Accountants of India (ICAI), Institute of Cost Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI), and those pursuing the Chartered Financial Analyst (CFA) course. Now, in its 14th edition, the book has been suitably revised meeting the latest syllabi requirement of various courses. The chapter on “Strategic Cost Management” has been updated to make it indispensible to modern management to enhance the competitive advantage of the firm. Besides, many chapters have been overhauled and updated, especially the chapters covering basic concepts and terms, classification of costs and cost sheet, activity based costing, marginal costing, relevant cost analysis and management decisions, capital budgeting decisions, and cost audit. The book also includes some of the cost standards set by ICAI, a wide array of illustrations, worked-out examples, and practice exercises. Besides, a large number of MCQs are given online for the students to practice and self evaluation. MCQs are critical in proper understanding and practice of theories and concepts. Also, CIMA Official Terminology is provided online to keep students and professionals abreast of relevant terms used in today’s business environment. For online material, visit https://www.phindia.com/banerjee_cost_ accounting_theory. TARGET AUDIENCE B.Com (Hons.)/BBA MBA/M.Com Students pursuing professional courses to become CA, CMA, CFA, CS.