Ib G Jun17 Accn2 Mark Scheme __exclusive__ -

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The IB G Jun17 Accn2 Mark Scheme refers to the marking scheme for the Accounts paper 2 (Accn2) examination, which took place in June 2017. The paper 2 examination assesses the student's ability to apply their knowledge and understanding of financial and management accounting concepts.

A mark scheme is essentially a guide that provides details on how marks are awarded for various parts of an assessment. For IB DP Group 2 subjects, these could include:

: Using specialist vocabulary correctly (e.g., "Retained Earnings" instead of "Leftover Profit") is essential for the 4 quality marks. 3. Ratio Analysis & Liquidity

Correct calculation of gross profit and cost of sales, accounting for adjustments like opening/closing inventory, carriage inwards, and returns.

Management accounting sections test a student's ability to forecast and aid business planning.

If you lost marks on adjustments like prepayments or depreciation, review the specific ledger account entries required to correct them.

This document serves as a detailed dissection of the marking criteria, structured to assist both teachers seeking to understand the assessment objectives and students reviewing for examinations.

Calculating profit or loss on disposal was a key 1-mark entry. For a cost of £27,000 and depreciation of £15,000 (NBV £12,000), proceeds of £13,950 resulted in a £1,950 profit on disposal . Accounting Principles:

One of the most important features. If a student makes an early error but carries the incorrect figure forward correctly, they do not lose the same mark twice. For example, if a student calculates gross profit incorrectly but then uses that figure to compute net profit correctly, they still earn the net profit marks.