TARGET COSTING Definition

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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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CENTRAL BANK is the major regulatory bank in a country, usually government controlled. The UK central bank is the Bank of England; Germany's is the Bundesbank; in the U.S. it is the Federal Reserve System.

PAY CYCLE is a set of rules that defines the criteria by which scheduled payments are selected for payment creation, e.g., payroll may be on a weekly, bi-weekly, or monthly pay cycle.

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