Accounting 9706/12 Oct Nov 2019 | Cambridge AS Level Past Papers With Mark Scheme

1. Accounting concepts and depreciation methods: Matching concept for revenue and expenses, straight-line depreciation, impact of omitting scrap value, calculation of net book value for disposals.
2. Error correction and financial statement adjustments: Suspense account for errors, inventory valuation discrepancies, impact of incorrect valuations on profit and assets.
3. Partnership accounting and capital adjustments: Admission of new partners, capital account adjustments, goodwill valuation, and profit-sharing arrangements.
4. Dividend distribution and financial statement effects: Rights issue details, dividend payment recording, understanding financial statements for investment decisions.
5. Cost accounting and inventory valuation methods: FIFO vs. AVCO impacts, marginal vs. absorption costing, variable and fixed cost analysis, contribution to sales ratio.
6. Budgeting and cost-volume-profit analysis: Budget preparation for operational planning, analyzing sales volume impact on profit, and determining optimal product mix in resource constraints.