§ 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