Accounting 9706/21 Oct Nov 2023 | Cambridge AS Level Past Papers With Mark Scheme

1. Profit and loss preparation, incorporating inventory valuation adjustments and depreciation using the reducing balance method.

2. Financial position statement detailing equity, receivables, payables, and non-current assets.

3. Partnership Act 1890 provisions in absence of agreements, including profit sharing and interest on loans.

4. Reconciling trial balance discrepancies using suspense accounts and impact on revised profits.

5. Absorption and marginal costing comparison, calculating fixed overheads and contribution margins for profitability analysis.

6. Valuation methods for closing inventory: FIFO and AVCO, and principles of just-in-time (JIT) inventory management.