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

1. Accounting concepts application: Depreciation of non-current assets, financial position representation, and adherence to accounting principles such as prudence and substance over form.
2. Income categorization: Distinction between capital and revenue income, evaluation of proceeds from asset sales, rental income, and business inventory sales.
3. Depreciation calculations and asset disposal: Methods like straight-line depreciation, year-end adjustments, and determination of profit or loss on asset sales.
4. Trial balance and suspense account errors: Identification of unrecorded purchases, incorrect ledger entries, and discount misallocations impacting financial accuracy.
5. Financial ratios and cost classification: Calculation of current ratio, indirect cost identification, and interpretation of financial statement components such as inventory, cash, and trade payables.
6. Costing and profit analysis: Application of job costing, marginal costing principles, cost-volume-profit analysis, and budgeting impact on financial performance assessment.