Defeating Smaug
Stay behind the debris until all of the fire is gone. Even though he stops, some fire is still there and it will kill even if you take one step out. The ring will not help you at all.

Saving Beorn
In order to save Beorn on the last level, you must push four different blue barrels located around the area. Follow the courage crystals and do not stop to fight. Use the ring when you encounter enemies, because you are timed.

Easy Courage Points
On the last level when you meet Liana, she will start fighting the Goblins. There will be an unlimited amount of them.
If you need to level up, stay there for awhile and collect all of the courage points.

Obtaining Equipment
There are three items you can acquire throughout the game: the walking stick, throwing rocks, and Sting. The walking stick can be found in a chest in Bag End at the Shire (first level). The rocks can be found in a grove of apple trees in the Shire. Sting is obtained in the troll cave at the end of that level.