Accounting 9706/11 Oct Nov 2017 | Cambridge AS Level Past Papers With Mark Scheme

1. Accounting concepts and financial reporting: Identification of correct accounting concepts applied to various scenarios, including business entity, depreciation, and non-current asset valuation.
2. Cost classification and allocation: Differentiation between capital and revenue expenditures, calculation of cost allocations, and determination of limiting factors in production scenarios.
3. Financial ratios and performance measures: Calculation and interpretation of return on capital employed, contribution to sales ratio, and break-even sales revenue.
4. Budgeting and cost management: Analysis of budgeted and actual costs, overhead absorption variances, and purposes of budgeting in business management.
5. Investment appraisal methods: Use of payback and net present value methods to evaluate investment decisions, and understanding their implications on financial performance.
6. Marginal and absorption costing: Application of costing methods to determine product costs, contribution margin, and profit calculation under different pricing and cost structures.