Accounting 9706/12 March 2017 | Cambridge AS Level Past Papers With Mark Scheme

1. Accounting concepts and depreciation: Matching concept examples, capital expenditure classification, and calculation of profit or loss on vehicle disposal using straight-line depreciation.
2. Control accounts and error corrections: Use of sales ledger control accounts, identification of errors leading to suspense account balances, and adjustments for provision for doubtful debts.
3. Financial statement adjustments and inventory valuation: Calculation of goods taken for own use, corrected profit for the year adjustments, and inventory valuation based on damaged goods.
4. Partnership adjustments and goodwill: Recording of goodwill upon new partner admission, revaluation of non-current assets, and calculation of capital account balances post-partnership changes.
5. Financial ratios and equity valuation: Return on capital employed (ROCE) calculation, non-current asset turnover, and determination of total equity from financial statement components.
6. Costing and break-even analysis: Identification of direct costs, calculation of total fixed costs from production data, overhead absorption rates, and contribution maximization based on limited resource allocation.