Traditional costing techniques may not be appropriate in today’s changing dimension. Concepts like activity base costing, target costing, just-in-time, kaizen costing are believed to be more significant in today’s business and manufacturing environment. This book presents conceptual and theoretical aspects of these techniques in a simple, logical and comprehensive manner. It represents Eras and trends of Management Accounting. Certain topics like marginal costing and standard costing have also been introduced considering importance in the present era.