Ib G Jun17 Accn2 Mark Scheme May 2026
Understanding the Mark Scheme
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:
Final Notes on Using This Guide
This reconstructed mark scheme mirrors the style, difficulty, and structure of the AQA ACCN2 June 2017 paper. To prepare effectively: Ib G Jun17 Accn2 Mark Scheme
- AO1: Knowledge and Understanding (Demonstrating facts, concepts, and theories).
- AO2: Application and Analysis (Applying knowledge to specific contexts and data).
- AO3: Synthesis and Evaluation (Making judgments, developing arguments, and evaluating data sources).
D. Specific to Jun17 – Examiner’s Report Highlights
While the mark scheme gives the answers, the Examiner’s Report is the companion document. For Jun17 ACCN2, common issues included: Understanding the Mark Scheme A mark scheme is
Quality of Written Communication: Up to 4 marks were allocated for the ability to use specialist vocabulary and organize information clearly. Draft Social Media/Forum Post statements of financial position
Typical content for "Accn2" (Accounting paper 2) mark scheme — what to expect
- Financial statement preparation: Statements of profit or loss, statements of financial position, cash flow items; show formatting requirements and required disclosures.
- Adjustments and corrections: Treatment of accruals, prepayments, depreciation, provisions, inventory errors, and year-end adjustments.
- Ratio analysis and interpretation: Calculation of profitability, liquidity, efficiency ratios; mark scheme expects both correct computation and interpretation linking to business context.
- Partnerships/Companies: Share capital transactions, dividends, retained earnings reconciliation, director’s loan accounts.
- Costing & budgeting: Variance analysis (material, labour, overhead) with correct formulas, signs, and interpretations.
- Double-entry and journal entries: Correct accounts, correct debit/credit, narration sometimes optional.
- Accounting concepts and ethical considerations: Application of concepts (matching, accruals, prudence) and brief discussion of ethical issues when asked.