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.

Learn new Accounting Terms

COD is Cash On Delivery; which is exactly what it means.

CREDIT RECORD (CR) is an entry in a double-entry bookkeeping system recording an increase in a liability; an owners equity item or revenue; or a decrease in an asset or an expense. Credit entries are conventionally made on the right-hand side of T accounts.

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