Accounting 9706/34 May June 2021 | Cambridge AS Level Past Papers With Mark Scheme

1. Preparation of subscriptions account, income and expenditure account, and refreshments trading account for the year ended 31 December 2020, incorporating inventory, staff costs, and equipment transactions.
2. Equity and liabilities section of the statement of financial position; calculations for profit for the year, profit from operations, and their implications for accounting ratios.
3. Concepts of adjusting and non-adjusting events, recoverable amounts, impairment losses, and their impact on the financial statements.
4. Joint venture account preparation, including Amit and Barry's accounts, and recommendations for improving profitability with potential third-party inclusion.
5. Trade payables budget, reconciliation of opening and closing trade payables, and evaluation of the use of budgets, including the concept of a flexed budget.
6. Net present value and payback period analysis for investment options, advising directors on decision-making based on future cash inflows.