L36: Principles of Job Costing

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The purpose of any business is to make money, and for a project-based business, proper job costing is the most effective way to ensure that occurs. Job costing is the accounting which tracks the costs and revenues by job and enables standardized reporting of profitability for each job. For a typical job this will include direct material, direct labor, subcontract costs, and other indirect costs used to support the project.

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