Reflects Management's Choices—Operations objectives reflect management's choices about structure, industry considerations, and performance of the entity.

Considers Tolerances for Risk—Management considers the acceptable levels of variation relative to the achievement of operations objectives.

Includes Operations and Financial Performance Goals—The organization reflects the desired level of operations and financial performance for the entity within operations objectives.

Forms a Basis for Committing of Resources—Management uses operations objectives as a basis for allocating resources needed to attain desired operations and financial performance.

Complies with Applicable Accounting Standards—Financial reporting objectives are consistent with accounting principles suitable and available for that entity. The accounting principles selected are appropriate in the circumstances.

Considers Materiality—Management considers materiality in financial statement presentation.

Reflects Entity Activities—External reporting reflects the underlying transactions and events to show qualitative characteristics and assertions.

Complies with Externally Established Standards and Frameworks—Management establishes objectives consistent with laws and regulations, or standards and frameworks of recognized external organizations.

Considers the Required Level of Precision—Management reflects the required level of precision and accuracy suitable for user needs and as based on criteria established by third parties in non-financial reporting.

Reflects Entity Activities—External reporting reflects the underlying transactions and events within a range of acceptable limits.

Reflects Management's Choices—Internal reporting provides management with accurate and complete information regarding management's choices and information needed in managing the entity.

Considers the Required Level of Precision—Management reflects the required level of precision and accuracy suitable for user needs in non-financial reporting objectives, and materiality within financial reporting objectives.

Reflects Entity Activities—Internal reporting reflects the underlying transactions and events within a range of acceptable limits.

Reflects External Laws and Regulations—Laws and regulations establish minimum standards of conduct which the entity integrates into compliance objectives.

Considers Tolerances for Risk—Management considers the acceptable levels of variation relative to the achievement of compliance objectives.