Accounting 9706/42 May June 2012 | Cambridge AS Level Past Papers With Mark Scheme

1. Preparation of manufacturing account and income statement using accrued and prepaid overheads, depreciation allocation, and inventory valuations for Asterix plc.

2. Partnership adjustments under the Partnership Act 1890, including corrected income and appropriation accounts, drawings calculation, and financial performance evaluation for Hexham, Creakle, and Quilp.

3. Break-even analysis, including fixed and semi-variable costs, production budgets, and variance evaluation in flexible budget systems for Hiemstra Limited.

4. Variance analysis in sales, direct materials, direct labor, and overheads; preparation of flexible budget statement to assess budgeted versus actual performance.

5. Treatment of goodwill and property revaluation, alongside loan creation for partner withdrawal and its impact on the partnership's financial position.

6. Analysis of financial strategies in borrowing cost treatment under IAS 23, asset recoverability under IAS 36, and loan-funded machinery acquisitions.