This well-received book, now in its eighth edition, provides a comprehensive analysis of the fundamental concepts of financial management and management accounting. The elegantly combined presentation of the various aspects of financial management and the topics of management accounting is a highlight of this text. The extensively revised, updated and reorganised new edition retains the thorough coverage of the various areas of financial management--basic concepts of finance, sources of finance, capital structure theories and planning, dividend policies, investment decisions, portfolio management and working capital management--as well as the areas of management accounting--changes in financial position, budgetary control and standard costing, and cost information and management decisions--provided in the previous editions. It presents, in addition, significant and contemporary topics such as financial environment, corporate governance and international financial management. Intended primarily for postgraduate students of commerce (mcom) and management (mba with finance specialisation), the book will also be highly useful for undergraduate students of these disciplines (bcom/bba), students of professional courses such as ca and icwa, as well as professionals in the fields of financial management and management accounting.