Facing the 2022 Cambridge O/L Accounting Past Paper – Part 2 can feel like stepping into unknown territory for many Sri Lankan students. While Part 1 focuses on multiple-choice questions, Part 2 is the writing paper that tests your conceptual knowledge and ability to present structured answers. This part carries a significant portion of your overall marks and requires focused preparation and smart answering techniques.
In Part 2, you’ll encounter questions involving final accounts, journal entries, control accounts, reconciliation statements, and accounting theory. To score high, students must understand not only how to calculate values but also how to format their answers clearly and logically—a skill that’s often overlooked in traditional exam prep.
This is where EDUS Wiki becomes your strategic advantage. We break down the 2022 paper in a format designed for Sri Lankan O/L students—offering clear instructions, structured answer models, and direct alignment with the Cambridge marking scheme. Whether you’re self-studying or revising for your next mock exam, our resources are designed to build your confidence and sharpen your exam skills.
Within this article, you’ll find a question-by-question breakdown, answer-writing tips, and common student mistakes to avoid. We also provide internal links to related resources, like answer templates and theory revision notes. With EDUS Wiki as your study companion, mastering the Cambridge O/L Accounting Paper 2 is within reach.
Detailed Examination of Topic
Understanding the 2022 O/L Accounting Past Paper – Part 2
Cambridge O/L Accounting Paper 2 (2022) comprised five compulsory structured questions, focusing on core accounting principles applied in real-life business contexts. Here’s a breakdown:
Main Sections of the Paper
- Final Accounts from Trial Balance
- Students were asked to prepare an Income Statement and Statement of Financial Position.
- Key Tip: Always include correct headings, totals, and double-check balancing.
- Journal Entries and Ledger Posting
- Common entries included bad debts, provision for depreciation, and accruals.
- Marking Tip: Clearly identify debit and credit, and write narration where required.
- Bank Reconciliation Statement
- This section tested your understanding of outstanding cheques, unpresented deposits, and errors.
- Most students lost marks by omitting explanations or incorrect adjustments.
- Control Accounts and Balancing
- Preparing Sales Ledger or Purchases Ledger Control Accounts was required.
- Ensure accurate posting of opening balances, contra entries, and totals.
- Accounting Theory and Short Answers
- Questions covered definitions such as capital vs revenue expenditure, accounting concepts, and business documents.
2022 Cambridge O/L Accounting Past Paper – Part 2
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Common Errors in 2022
- Ignoring the correct layout of financial statements
- Skipping narrations in journal entries
- Misinterpreting adjustment entries in trial balances
- Overlooking working notes, which are essential for partial marks
EDUS Wiki’s Support Resources
- Fully worked model answers based on the Cambridge marking scheme
- Downloadable revision packs with answer formats and templates
- Linked resources on:
- [Journal Entry Writing Guide]
- [Bank Reconciliation Strategies]
- [Final Account Templates]
These resources are optimized for mobile access and tailored for Sri Lankan learners preparing under time constraints.
Conclusion
The 2022 Cambridge O/L Accounting Past Paper – Part 2 demands more than just knowing formulas—it tests your ability to apply concepts, format responses, and think critically under exam pressure. For Sri Lankan students, understanding these structured questions is key to excelling in the exam.
EDUS Wiki makes this process easier. We don’t just provide answers—we teach how to write them properly, what examiners expect, and how to avoid losing easy marks. With our breakdowns, downloadable content, and connected resources, you can transform your revision process.
✅ Don’t forget to check our other O/L Accounting resources, including Part 1 guides and theory tips.
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Let EDUS Wiki be your go-to learning partner as you aim for exam success.