Business Ethics and Different Types of Costing Systems This week’s readings explore the different types of costing systems available to businesses.
Compare and contrast the different costing systems, identifying the advantages and disadvantages of each. Then, explain the system that either your organization or another organization in the Middle East utilizes and why. Is this particular system aligned with the principles of sustainability in any way? How? If not, why not? Costs are the necessary expenditures that must be made in order to run a business. Every factor of production has an associated cost. The cost of labor, for example, used in the production of goods and services is measured in terms of wages and benefits.