Accounting 9706/32 Oct Nov 2020 | Cambridge AS Level Past Papers With Mark Scheme

1. Calculation and justification of factory profit inclusion in income statements, with error adjustments in production cost and inventory valuation.
2. Preparation of cash flow statements and differentiation in accounting treatment of share premium in financial statements and books of account.
3. Partnership capital adjustments during mergers and transition from manual to computerized accounting systems.
4. Working capital cycle and net working assets to revenue ratio calculations, including variance analysis against industry benchmarks.
5. Sales and production budget preparation, including raw material purchases and impact of inventory policies on cost calculations.
6. Evaluation of variance results for direct materials, labor, and fixed overheads, along with reconciliation of budgeted and actual profits.