Accountants aid company managers in making critical decisions pertaining to capital budgeting and in particular relating to selecting investments and finally post auditing those investments. Specific capital budgeting models help accountants throughout these phases with the organization of an abundance of information. For example, there are Discounted Cash Flow Models allow for accountants to actively participate in specifically in phases two and three. 2) Distinguish between job costing and process costing. (Chapter 14)

Student 1: Job Costing, also known as job order costing provides a cost to a product or item that is typically identified by individual "units or batches" and that each demand a need for a specified skill or degree of attention (page 577). Some examples of companies that typically utilize job costing include printing, furniture, aircraft,...

The possibility and likelihood of mass ordering is feasible due to the need for the same products or parts for each order. The cost per unit is the same for each unit.
Student 2: The way of measuring product cost is the greatest difference between job costing and process costing. Job costing gives a specific cost to a particular action or job, which can pertain to a particular unit or to a series of like units. Job costing determines the cost based on the number of orders or jobs. An example includes a vehicle repair shop where each order is different and requires different parts. Process costing deals with masses of units and determines the cost per unit . For example, process costing takes place in an automobile assembly line where…