Any organization’s long-term competitive success is critically dependent on (1) its ability to appropriately organize and analyze high-quality information about its products, services, processes, organizational units, suppliers, and customers that fits its decision needs, (2) its ability to act rationally on that information, and (3) its ability to control its performance consistent with that information. The term managerial accounting refers to the set of information concepts, models and systems that provide this information and control for managers. This module is included to enable the students to master the key issues in the nature, functions, strategic context and techniques of management accounting that are currently being applied in various business industries today.