Accounting 9706/11 May June 2017 | Cambridge AS Level Past Papers With Mark Scheme

1. Accounting concepts and financial adjustments: Application of realisation concept in revenue recognition, calculation of depreciation using straight-line method, and determination of sale proceeds and profit or loss on disposal.
2. Error corrections and profit calculations: Identification of book-keeping errors, adjustments in control accounts, and impact on gross profit and net profit calculations.
3. Partnership changes and capital adjustments: Revaluation of assets during partner retirement, calculation of partner capital balances after changes, and distribution of profits according to new ratios.
4. Financial ratios and company performance: Calculation of return on capital employed, non-current asset turnover, trade receivables turnover, and break-even analysis for financial assessment.
5. Inventory valuation and costing methods: FIFO method for inventory valuation, identification of direct and indirect costs, and calculation of overhead absorption rates for production departments.
6. Labour cost management and variance analysis: Determination of labour costs including overtime and bonuses, apportionment of canteen costs based on direct labour hours, and analysis of under or over-absorbed overheads in manufacturing.