As a Cost and Management Consultant in the banking industry in Ghana, one of your highly esteemed clients, a top tier banking institution in Ghana has required of you to advise them as to whether target costing can be applied to the banking industry in Ghana. They further require you to advise them on what products or services can target costing be applied.

Answer and Explanation:

Target costing is a form of management with a key emphasis on reducing prices to a set value. Upon targeting the admin front pick the desired value of trading and profit frontline, then decide the price to achieve this desired cost of trading and profit perimeter. It then handles all the activities needed to meet these planned costs.

The key aim following goal costing is the company competitor, the trading price is the market price always, and the price is reduced by the path out.

The Target costing of all groups can be enforced. And to the banking sector in Ghana overall, it can be applied. Target costing may be used in the banking division to maximum the expense of service delivery.

The maximum use of bank sources such as deposits, ATM's, money tellers, etc can be made here.

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