1. Differentiate between relevant costs/revenues in choosing among alternatives such as "make money or buy", "lease or buy" and understand the importance of including not only quantitative but also qualitative factors in the decision making process.
2. Distinguish short-run from long-run pricing decisions including target-costing approach.
3. Evaluate business performance using the 4 perspectives of the balanced scorecard.
4. Apply the concept of "cost pools" and bases for allocation using the direct, step and reciprocal methods, as well as accounting for joint costs, by-product costs, spoilage, rework and scrap.
5. Apply economic order quantity theory as a tool for the management and inventory control of materials.
6. Use capital budgeting techniques such as discounted cash flow, net present value, internal rate of return, payback method, accrual accounting rate-of-return and sensitivity analysis to evaluate long-term investment alternatives.
7. Apply transfer pricing concepts in setting appropriate domestic and international transfer prices.
8. Analyze return on investment using the DuPont method, residual income, and economic value methods to evaluate performance as an integral part of management control system.
All of these objectives need to be well explained and have examples to show that it is well understood. The paper doesnt necesarily need an intro or conclusion.