Students were tasked with preparing an Income Statement and a Statement of Financial Position from a raw trial balance.
Do not just write numbers in your workings. Clearly label figures (e.g., "Closing Inventory = £14,500" ). If an examiner cannot determine what your scratch work represents, they cannot award partial or "OF" marks.
Which or business scenario from the June 2017 paper are you working on?
The ACCN2 paper typically focuses on the preparation of financial statements and the analysis of business performance. The June 2017 exam was no exception, focusing on: Ib G Jun17 Accn2 Mark Scheme
The June 2017 paper showed a strict preference for International Financial Reporting Standards (IFRS) terminology.
Marks are strictly split between the calculation of the adjustment and its correct placement under Current Assets or Current Liabilities. 2. Control Accounts and Error Correction
: While some marks are awarded for a correct final answer, the June 2017 mark scheme Students were tasked with preparing an Income Statement
For Question 1 (Bergo Ltd), non-current asset entries allowed formatting flexibility:
The mark scheme establishes clear protocols for adjusting current assets dynamically when bad debts or provisions shift: : Established at £24,600.
This question evaluated the ability to construct accounts using the accounting equation when a full set of books is unavailable. If an examiner cannot determine what your scratch
| | Topics Removed | | :--- | :--- | | The impact of ethical considerations on accounting practices. | (Specific removals are not detailed in the provided text but are mentioned in the source as a general category). | | The role of the accountant in developing and overseeing accounting information systems. | | | Correcting errors in double entry using the journal, including the use of a suspense account. | |
: The change between the opening provision ( ) and the new closing provision ( decrease. The mark scheme dictates this