“Job cost accounting is the process of assigning project costs incurred to a specific job. This term is widely used in the construction industry, and it refers to allocating costs to individual construction projects.
The issue with job costing is that it’s an all-or-none commitment. There is no value in getting limited job cost reports that only include some of the job costs. But running a construction business without good job costing is like driving on a road without a map. You might end up someplace, but you don’t know if it is the right place.”