§ describe the target cost gap.

　　§ suggest how a target cost gap might be closed.

　　§ explain what is meant by the term ‘life-cycle costing’ in a manufacturing industry

　　§ identify the costs involved at different stages of the life-cycle.

　　§ explain the implications of life-cycle costing on pricing, performance management and decision making.

　　§ describe the process of back-flush accounting and contrast with traditional process accounting.

　　§ explain, for a manufacturing business, the implications of back-flush accounting on performance management

　　§ evaluate the decision to switch to back-flush accounting from traditional process control for a manufacturing business.

　　§ explain throughput accounting and the throughput accounting ratio (TPAR), and calculate and interpret, a TPAR.

　　§ suggest how a TPAR could be improved.

　　§ apply throughput accounting to a given multi-production decision making problem.