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Learning Goal: I’m working on a business writing question and need a sample draft to help me learn.This reflection is comprised of two sections, collectively totaling a minimum of 500 words. Complete your reflection by responding to all prompts.Costing SystemsThe type of product a company produces affects the type of accounting system needed to determine product cost.The 2 most common types of costing systems are job-order costing and process costing.Compare and contrast job-order and process costing systems. How can events in a job-order costing system affect financial statements? How can events in a process costing system affect financial statements? Provide specific examples for each type.Planning, Coordinating, and Controlling Business OperationsBudgeting is a tool used by management for performing the functions of planning, coordinating, and controlling operations of a business. Our textbook, Managing Accounting Concepts, describes 2 main types of budgeting: static budgets and flexible budgets.Differentiate between the 2 types of budgets and include the following in your response:Provide an example of the type of business or company that would benefit from using a flexible budget.
Provide support for your business selection and include the advantage for using a flexible budget over a static budget.
The main source needs to be from chapters 3, 7, 8 and 12 of the following book:Edmonds: Custom Connect for UoP Fundamental Managerial Accounting and Dynamic Business Law9TH EDITION, © 2020By Thomas EdmondsISBN:1264152795