If the provision decreases, this is treated as income (or a reduction in expenses); if it increases, it is an expense. Accruals and Prepayments
The mark scheme differentiates between basic description (e.g., "The current ratio decreased") and high-level analysis (e.g., "The decrease in the current ratio from 2.1:1 to 1.5:1 suggests a strain on liquidity, potentially driven by overstocking or delayed trade receivables collection"). Task 3: Budgeting and Marginal Costing
Once you've finished, it's time to become the examiner. Use the mark scheme to mark your own work . Be critical but also apply the principles of positive marking and the "Own Figure Rule."
ACCN2. Accounting. The dry science of debits and credits, of balance sheets that must, against all odds, actually balance. But this was the June 2017 paper, notorious in the examiner's lounge as 'The Zero-Sum Game.' It was a paper where the margins for error were so thin they were practically translucent.
He turned to Question 3. The dreaded Suspense Account. Ib G Jun17 Accn2 Mark Scheme
The ACCN2 paper focus is "Financial and Management Accounting." Unlike introductory papers, this unit requires a blend of computational precision and narrative evaluation. The June 2017 series followed a standardized structure: : 90 marks. Time Allotted : 1 hour and 30 minutes.
Start to analyze the "granularity" of the mark scheme. Notice how a 4-mark question is often split into four distinct points. Build an "answer bank" by noting down model phrases and sentence structures from the mark scheme for common question types. Over time, you will internalize what examiners are specifically listening for, and your answers will naturally start to hit the mark criteria.
The mark scheme for this period utilizes a specific coding system to ensure fairness across all examiners. 1. The "Own Figure" (OF) Rule
Deducting bad debts from trade receivables before calculating the new allowance for doubtful debts. Task 2: Ratio Analysis and Evaluation If the provision decreases, this is treated as
: If a specific bad debt exists (e.g.,
: Always deduct specific bad debts from trade receivables before calculating the percentage for the general provision.
Specifically looking at the Appropriation Account and Current Accounts.
The exam focuses on Financial and Management Accounting. The June 2017 exam, noted by the code IB/G/Jun17/ACCN2 , focused heavily on accurate inventory valuation, adjustment of accruals/prepayments, and profit calculation. Maximum Marks: 80 Time Allowed: 1 Hour 30 Minutes Use the mark scheme to mark your own work
: Set a timer for 90 minutes. Do not look at your textbook or the mark scheme while writing.
The paper typically covers:
: The scheme details how to handle draft income statements, specifically for "Bergo Limited," where students must identify which "additional information" is relevant. Provision for Doubtful Debts