Accounting 9706/13 May June 2019 | Cambridge AS Level Past Papers With Mark Scheme

1. Inventory valuation principles: Application of the historic cost concept, depreciation methods for spreading asset costs, and valuation adjustments for revalued assets.
2. Depreciation and financial adjustments: Calculation of depreciation impact on profit, error corrections in financial records, and adjustments in the sales ledger control account.
3. Partnership changes and goodwill: Adjusting capital accounts for changes in profit-sharing ratios, treatment of goodwill on retirement of partners, and transferring private assets into partnerships.
4. Financial statement elements: Valuation of inventory for financial statements, preparation of statements of changes in equity, and calculation of retained earnings.
5. Cost and revenue analysis: Inventory turnover rate, calculation of employee pay including overtime and bonuses, and absorption vs. marginal costing profits.
6. Break-even and budget analysis: Effects of changes in sales volume and costs on profit, determining overhead absorption rates, and the role of budgets in business planning and control.