Accounting 9706/12 March 2021 | Cambridge AS Level Past Papers With Mark Scheme

1. Accounting principles applied to inventory valuation, capital costs, and depreciation practices, including adjustments to draft profits.
2. Partnership financial changes, including profit-sharing ratio alterations and goodwill adjustments on partner admission.
3. Budgeting methods: marginal costing and absorption costing for overhead analysis; break-even point and margin of safety calculations.
4. Financial ratios: current ratio, acid test, and non-current asset turnover analysis for liquidity and operational efficiency.
5. Cost classifications and AVCO method for inventory valuation in manufacturing scenarios.
6. Decision-making processes using fixed and variable cost structures, emphasizing pricing strategies, target profits, and budget considerations.