Accounting is a dynamic field of specialization where leaders in the field must be continuously responding to changes in the business society that imposes modifications and additions to accounting principles and practices. "Contemporary Issues in Accounting" throws light on recent advances in the field of Financial and Cost Accounting. This book will especially helpful to Commerce and Management students of Bachelor Degrees (B. Com., BBA) as well as at Master (M. Com., MBA) Level. The book also servers the purpose of Conceptual Know how for Professional Courses Scholars like Chartered Accountants (CA), Company Secretary (CS) and Cost and Management Accountants (CMA). This book has discussed numerous concepts like International Financial Reporting Standard (IFRS), Human Resource Accounting (HRA), Responsibility Accounting (RA), Human Resource Auditing, Inflation Accounting (IA), Activity Based Costing (ABC), Target Costing and Kaizen Costing, Indian Cost Accounting Standard and Value Added Reporting.