Accounting 9706/23 Oct Nov 2015 | Cambridge AS Level Past Papers With Mark Scheme

1. Preparation of income and financial position statements for sole traders and partnerships, incorporating adjustments for depreciation, provisions for doubtful debts, and accrued or prepaid expenses.

2. Partnership accounting, including profit-sharing ratios, interest on drawings and capital, and partner salary allocations.

3. Overhead allocation and absorption costing, using cost drivers such as labor hours, power usage, and floor area to determine inventory valuation.

4. Valuation of finished goods inventory based on absorption cost, reconciling with direct and indirect production costs.

5. Manufacturing account preparation for cost analysis, detailing direct materials, labor, and allocated overheads.

6. Income statement preparation for product-specific profitability, incorporating direct costs, overheads, and administrative expenses.