Accounting 9706/12 March 2020 | Cambridge AS Level Past Papers With Mark Scheme

1. Accounting concepts application: Consistency, prudence, realisation, capital expenditure classification, revaluation of assets, and depreciation calculations using various methods.
2. Suspense account and error correction: Identifying and correcting omissions and discrepancies in financial records, including sales invoices, purchases, and rent payments.
3. Provisions and doubtful debts: Calculation and adjustment of provisions based on trade receivables, assessing changes in doubtful debt provisions.
4. Profit distribution and partnership accounting: Sharing profits and losses, accounting for new partner admissions, goodwill valuation, and adjusting capital accounts.
5. Cost classifications and inventory valuation: Fixed vs. variable costs, direct vs. indirect costs, AVCO method for inventory valuation, and implications of production changes on costs.
6. Break-even analysis and cost-volume-profit relationship: Analysis of fixed and variable costs, sales revenue, break-even sales, and forecasting profits based on different levels of activity.