Marks are awarded for the correct direction of adjustments (e.g., whether an unrecorded invoice should be added or subtracted from the balance). 3. Ratio Analysis and Evaluation
A sole trader has lost his purchase invoices. You are given:
: Calculating changes in provisions (e.g., a decrease from £800 to £720/£738) and their impact on capital and profit figures. Ib G Jun17 Accn2 Mark Scheme
Look for the "Ignore" or "Accept" notes in the margin of the mark scheme. These show the range of flexibility the examiner has. Conclusion
The June 2017 paper (coded “Ib G Jun17 Accn2”) would have consisted of , each with multiple parts, totaling 100 marks (or sometimes 120, depending on the variant). The mark scheme is hierarchical: marks are awarded for correct application of accounting rules, not just the final number. Marks are awarded for the correct direction of
Reconcile the control account balance with the total of the individual ledger balances. 2. Financial Statements of Sole Traders
Section B consists of short-answer and structured questions that test students' ability to apply their knowledge and understanding of financial and management accounting concepts. You are given: : Calculating changes in provisions (e
: Correctly shifting expenses to the period they relate to.
The mark scheme heavily utilizes the OFR. If you make an early calculation error, you will not be penalized repeatedly. As long as your subsequent steps follow the correct accounting logic using your "own figure," you can still claim full working marks.
Confusing margin with markup. The June 2017 mark scheme showed a clear step-by-step mathematical breakdown for converting markup percentages into cost of sales data. 4. Ratio Analysis and Evaluation
The marking descriptors for the IB G Jun17 Accn2 Mark Scheme provide a detailed outline of the expected standards for each assessment objective. The descriptors are broken down into bands, with each band representing a specific level of achievement.