Accounting 9706/12 May June 2015 | Cambridge AS Level Past Papers With Mark Scheme

1. Accounting for accrued income as a current asset, ensuring correct revenue recognition.

2. Impact of adjustments for prepayments, accruals, and depreciation on financial statements.

3. Inventory valuation using methods like AVCO and its effect on cost of goods sold and profitability.

4. Calculation and interpretation of gross profit, profit margins, and break-even points to assess financial performance.

5. Allocation of joint costs (e.g., rent, insurance, heating) across departments based on activity proportions.

6. Prioritization of product manufacturing under resource constraints to maximize contribution per unit of limited input.