 Hello in this lecture we're going to define the term job according to fundamental accounting principles while the 22nd edition the definition of job is Project of a customized product or service when we're considering a job in this context We're generally thinking of a job cost system and looking at the particular job What support accounting instruction by clicking the link below giving you a free month membership to all of the content On our website broken out by category further broken out by course each course then organized in a logical Reasonable fashion making it much more easy to find what you need than can be done on a YouTube page We also include added resources such as Excel practice problems PDF files and more Like QuickBooks backup files win applicable So once again click the link below for a free month Membership to our website and all the content on it a manufacturing company it needs to get done in terms of That job cost system for example if we have a trial balance here We can see that we are going to break out what we do what we produce in a manufacturing company By inventory and therefore we're gonna have to break that out in components of inventory being Raw materials work in process finished goods and the factory overhead Idea is that we're gonna have raw materials that we're going to convert into Work in process as we're working on it and then convert it to finished goods which will later be Expensed in the form of cost of goods sold and These accounts will be backed up by the general ledger accounts for raw materials finished goods work in process Factory overhead providing the activity for the time period in order by date of activity And of course the totals here on the GL will match the trial balance We're also gonna back that information up in terms of say the work in process account by job So that's what we're considering here. We're saying these are gonna be the separate jobs the jobs being distinct in nature and Therefore we're gonna use the job cost system to track the costs to these jobs these jobs not being the same The jobs here we're having job 14 15 and 16 We could see that there's only one open job that being this 260,000 that what is what ties out to the work in process in this job cost system