The job-order cost system of accounting is appropriate when producing products with individual characteristics and/or when identifiable groupings are possible, e.g., batches of certain styles or types of furniture. The unique aspect of job-order costing is the identification of costs to specific units or a particular job. A job-order system is appropriate in consulting because of the substantial variation between engagements.

All material prior-period errors must be corrected retrospectively in the first set of financial statements issued after their discovery. This may be done by restating the comparative amounts for the prior periods when the error occurred. If the error occurred prior to the first period presented, the opening balances for the first period presented are restated_ A material error is one that could, individually or collectively, affect the decisions of users of the financial statements. However, comparative information should be restated only if practicable.