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

1. Application of matching and prudence accounting concepts in financial statements, including depreciation and provision adjustments.
2. Adjustments for capital accounts in partnerships, including goodwill allocation and profit-sharing ratio changes upon partner admission.
3. Suspense account reconciliations and trial balance corrections, including misposted transactions and journal adjustments.
4. Costing methodologies: AVCO for inventory valuation and absorption costing for overhead allocation; margin and contribution ratio calculations.
5. Analysis of fixed and variable costs in production, marginal costing for profit scenarios, and evaluation of cost-volume-profit relationships.
6. Benefits and functions of budgetary control systems, including expenditure control, performance evaluation, and financial planning support.