Accounting 9706/22 Oct Nov 2016 | Cambridge AS Level Past Papers With Mark Scheme

1. Partnership accounting and financial management: Calculation of profit before appropriation, preparation of appropriation account, and current accounts for partners. Discussion on capital and revenue expenditure, depreciation concepts, and financing options for asset purchases.
2. Changes in equity and financial performance: Preparation of statements of changes in equity, impact of share issues, revaluation of assets, and differences between ordinary shares and debentures.
3. Error corrections and suspense accounts: Use of suspense accounts, benefits of maintaining control accounts, correction of book-keeping errors, and assessment of their impact on profit.
4. Manufacturing business cost analysis: Calculation of unit contribution, direct labour hours, maximum profit from available hours, and evaluation of options to meet budgeted production, including overtime and external supplier costs. Discussion on advantages and disadvantages of budgetary control systems.