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Target Costing for Profit Management
Target Costing is a move away from the traditional, financial, department-focused accounting system to a more process-oriented, managerial, cross-functional cost system which is, by definition, OPS-based and not general ledger-based. It involves collecting data not found in traditional financial cost accounting systems, for example, life cycle costs and costs of processes in value streams. In an ABC (activity-based) cost system, which some in academia believe is a Lean cost management system, one is mapping ...
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