EuroSport gives a great synopsis for the upcoming Olympic Games in regards to archery.

Beijing 2008 – Quick Guide: Archery

The rules of archery

Archers shoot standing, placed 70 meters away from the target. The diameter of the target is 1.22m. It is composed of 10 concentric rings, each one measuring 12.2cm.

The centre ring, or bullseye, counts for 10 points, the outer ring is worth one, and the rings in between increase in value by one point as you get nearest to the centre.

The winner of a match is the athlete who reaches the highest tally out of all of his arrows.