Discussion Question One:

In ACC1002, you studied about Job Order Costing in Chapter 16. In our week 1 lectures, we briefly discussed Job Order costing again. Now, we are learning about Activity-Based Costing in Chapter 18. There is a third costing system called Process Costing covered in Chapter 17.

• Research your text and also some professional articles that compare and contrast these management accounting cost systems.
• Write a summary of your findings. Include in your discussion: basic descriptions of each, when you might use each, their methods and any distinct accounts they use, their benefits and disadvantages.
• Give your evaluation of them, based on your readings.