target costing

What is target costing?

Definition Target costing is a systematic way to set product price. It considers the current market price and desired profit to set production cost.  It … Read more

Company Infrastructure

Definition Company infrastructure refers to the structure of services, facilities, and procedures/policies used by a business. In fact, the foundation of business is based on … Read more

What is Feedback Control?

Definition Feedback control is a control system that relies on feedback for analyzing the discrepancy between actual and desired performance so that improvements can be … Read more

What is a Corporation?

Businesses operate in different forms including sole proprietorship, partnership, LLC, and corporation. A corporation is the highest form of business organization that involves the greatest … Read more

What is a bonded warehouse?

Definition A bonded warehouse is licensed warehouse in the country where imported goods/products can be stored without paying import duties and taxes. It’s important to … Read more