Modern approaches to costing: target costing

The modern economic environment is marked by a high degree of uncertainty and intense competition, which increases the need for enterprises to manage costs with precision and efficiency. Traditional costing methods do not always meet the requirements of flexibility and strategic management. As a result, the implementation of innovative systems such as target costing becomes increasingly relevant. This article analyzes the principles and functional characteristics of this model, highlighting its advantages over classical approaches. Practical examples, including the case of Toyota, demonstrate how the application of target costing can improve financial performance, enhance cost control, and contribute to long-term business sustainability.