Accounting 9706/12 May June 2014 | Cambridge AS Level Past Papers With Mark Scheme

1. Valuation of inventory using lower of cost and net realizable value principles for accurate financial reporting.

2. Financial statement adjustments for prepayments, accrued expenses, and provision for doubtful debts to ensure accurate asset and liability representation.

3. Depreciation of non-current assets using straight-line and reducing balance methods, determining profit or loss on disposals.

4. Partnership profit allocation and appropriations, including interest on capital, salaries, and profit-sharing ratios.

5. Analysis of key financial ratios such as current ratio, return on capital employed (ROCE), and inventory turnover for evaluating liquidity and profitability.

6. Cost accounting techniques including absorption and marginal costing for assessing production efficiency, contribution margins, and fixed overhead recovery.