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What are the basic differences between joint products and by-products?

Product Control Cost Accounting
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Question added by Anayat Anayat , Freelancer , oDesk.com
Date Posted: 2013/09/09
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Khaled Abdelrehim ACCA DipIFR CMA
by Khaled Abdelrehim ACCA DipIFR CMA , Financial Analysis Assistant General Manager , Khalda Petroleum Company

- joint products are produced on purpose, while by products are produced incidently

- joint products are closed in their value while by products are of less value

- extra money may be spent over joint products after the split off point to be finished, while no money is spent on by products after they are generated

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