Accounting 9706/42 Oct Nov 2015 | Cambridge AS Level Past Papers With Mark Scheme

1. Preparation of corrected manufacturing and income statements, including adjustments for depreciation, factory profit, and inventory valuations.
2. Monthly cash budget preparation, incorporating sales, purchases, operating expenses, and significant asset transactions like vehicle purchases and loan repayments.
3. Adjustments for errors in financial statements, including impairment of delivery vans and inventory valuation errors, with revised profit and return on capital employed calculations.
4. Standard costing system analysis, including variance calculations for sales, materials, labor, and overheads to evaluate performance.
5. Reconciliation of budgeted gross profit with actual profit through variance analysis.
6. Evaluation of the usefulness of standard costing in managerial decision-making and performance monitoring.