Accounting 9706/12 March 2018 | Cambridge AS Level Past Papers With Mark Scheme

1. Ledger accounts and depreciation: Purposes of ledger accounts, accounting concepts applied to depreciation, calculation of sale proceeds for asset disposal, and payment calculation for new asset acquisition after part-exchange.
2. Trial balance errors and adjustments: Identifying errors that affect the trial balance, calculation of suspense account balances, and adjustments for inventory damaged by fire.
3. Partnership dissolution and capital adjustments: Calculating partner payouts after dissolution, understanding rules in the absence of a partnership agreement, and allocation of loss on partnership dissolution.
4. Share issuance and financial performance: Determining the increase in net assets from share and debenture issuance, characteristics of capital reserves, and calculating retained earnings after dividends and reserve transfers.
5. Costing methods and non-current asset turnover: Selection of job costing for specific industries, determination of direct costs, calculation of gross pay for employees with bonuses, and assessment of non-current asset turnover ratios.
6. Marginal costing and production planning: Calculation of margin of safety, determination of break-even units for multiple products, and impact of switching from absorption to marginal costing on profits.
7. Budgetary control and material cost variances: Factors leading to material cost variances, impact of outdated machinery on production costs, and benefits of budgetary control in managing costs and resources.