COURSE OUTLINE: Management accounting is a subject of recent origin that has facilitated managerial decision-making more effectively and efficiently. The tools & techniques of management accounting are very useful for strategic managerial decisions facilitating cost control, profit maximization, organizational planning and control. Innovative costing techniques like ABC and responsibility accounting help the business organizations to sustain in a competitive global scenario and expand their product lines and markets. Management control systems help businesses to use their scarce resources efficiently and effectively and contribute in the maximization of the firm value.