ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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TARGET COSTING Definition
TARGET COSTING is a disciplined process for determining and realizing a total cost at which a proposed product with specified functionality must be produced to generate the desired profitability at its anticipated selling price in the future.
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BACKORDER is a customer order or contractual line item, current or past due, that cannot be shipped due to lack of inventory; dependent upon availability it will be shipped at some future date.
NON-FIXED INCOME refers to any income that is not fixed, e.g. wages, profits realized on the sale of assets and/or securities. See FIXED INCOME.
