This book is intended primarily for students who are at the foundation stage of pursuing managerial accounting course. After many years of teaching managerial accounting to various levels of students in tertiary accounting education, we became convinced there was a need for a book with a more 'student-centered' text. The need for such approach is vital for students who are in the process of preparing for the managerial accounting examination. In line with the 'student-centered' approach, this book introduces the concept of Bloom's Taxonomy of cognitive skills in the introduction chapter. The taxonomy provides a useful structure in which to categorize test questions, since the setter will characteristically asked questions within particular levels, and if students can determine them in context of learning objectives, the candidates will be able to study using appropriate strategies. Question items on quizzes and exams can demand different levels of thinking skills. For example, some questions might be simple memorization of facts, and others might require the ability to synthesize information from several sources to select or construct a response. To facilitate students improve their learning performance and strengthen their foundation in managerial accounting this book provides learning guides, tips and strategies for students. While at the end of each chapter selected questions are posted and the question is furnished with guidance, tips and comments in line with the application of various level of Bloom's taxonomy cognitive skill together with question cues. Therefore, this book will provide guidance for students to improve their learning strategies, understand the questioning techniques and strategies posited by the examiner. In gaining this understanding, it is hoped that the students will be able to tackle the test questions and further able to provide responses to the test questions needs objectively