Job costing
An accounting practice in the construction industry used to track the costs for certain job activities and projects using a consistent organizational system to record and report on costs.
Job costing involves tracking all costs associated with a specific job or project, including labor, materials, and overhead. It is crucial for financial management, helping companies assess profitability, identify cost-saving opportunities, and ensure that expenses align with the budget.
Used in a sentence
Accurate job costing is essential for tracking project expenses and ensuring profitability.
Synonyms/variation
Project Costing
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