What is job costing vs project accounting in a shop setting?
Job costing focuses on a single job or work order. You track labour, inputs and other costs directly against that individual job so you can see its true cost‑to‑manufacture and whether that specific piece of work is profitable. This is the typical model for job shops and short‑run, high‑mix environments, where each job may have a different routing, material mix and lead time.
Project accounting looks one level up. Instead of analysing each job in isolation, multiple related jobs are grouped into a single project. Costs and budgets are then tracked and analysed at the overall project level, so you can see how the combined work is performing financially, not just each individual job on its own.