A-level
ACCOUNTING
7127/1
Paper 1 Financial Accounting
Mark scheme
June 2019
Version: 1.0 Final
, MARK SCHEME – A-LEVEL ACCOUNTING – 7127/1 – JUNE 2019
Mark schemes are prepared by the Lead Assessment Writer and considered, together with the relevant
questions, by a panel of subject teachers. This mark scheme includes any amendments made at the
standardisation events which all associates participate in and is the scheme which was used by them in
this examination. The standardisation process ensures that the mark scheme covers the students’
responses to questions and that every associate understands and applies it in the same correct way.
As preparation for standardisation each associate analyses a number of students’ scripts. Alternative
answers not already covered by the mark scheme are discussed and legislated for. If, after the
standardisation process, associates encounter unusual answers which have not been raised they are
required to refer these to the Lead Examiner.
It must be stressed that a mark scheme is a working document, in many cases further developed and
expanded on the basis of students’ reactions to a particular paper. Assumptions about future mark
schemes on the basis of one year’s document should be avoided; whilst the guiding principles of
assessment remain constant, details will change, depending on the content of a particular examination
paper.
Further copies of this mark scheme are available from aqa.org.uk
Copyright © 2019 AQA and its licensors. All rights reserved.
AQA retains the copyright on all its publications. However, registered schools/colleges for AQA are permitted to copy material from this booklet
for their own internal use, with the following important exception: AQA cannot give permission to schools/colleges to photocopy any material that
is acknowledged to a third party even for internal use within the centre.
2
, MARK SCHEME – A-LEVEL ACCOUNTING – 7127/1 – JUNE 2019
Level of response marking instructions
Level of response mark schemes are broken down into levels, each of which has a descriptor. The
descriptor for the level shows the average performance for the level. There are marks in each level.
Before you apply the mark scheme to a student’s answer read through the answer and annotate it (as
instructed) to show the qualities that are being looked for. You can then apply the mark scheme.
Step 1 Determine a level
Start at the lowest level of the mark scheme and use it as a ladder to see whether the answer meets the
descriptor for that level. The descriptor for the level indicates the different qualities that might be seen in
the student’s answer for that level. If it meets the lowest level then go to the next one and decide if it
meets this level, and so on, until you have a match between the level descriptor and the answer. With
practice and familiarity you will find that for better answers you will be able to quickly skip through the
lower levels of the mark scheme.
When assigning a level you should look at the overall quality of the answer and not look to pick holes in
small and specific parts of the answer where the student has not performed quite as well as the rest. If
the answer covers different aspects of different levels of the mark scheme you should use a best fit
approach for defining the level and then use the variability of the response to help decide the mark within
the level, i.e. if the response is predominantly level 3 with a small amount of level 4 material it would be
placed in level 3 but be awarded a mark near the top of the level because of the level 4 content.
Step 2 Determine a mark
Once you have assigned a level you need to decide on the mark. The descriptors on how to allocate
marks can help with this. The exemplar materials used during standardisation will help. There will be an
answer in the standardising materials which will correspond with each level of the mark scheme. This
answer will have been awarded a mark by the Lead Examiner. You can compare the student’s answer
with the example to determine if it is the same standard, better or worse than the example. You can then
use this to allocate a mark for the answer based on the Lead Examiner’s mark on the example.
You may well need to read back through the answer as you apply the mark scheme to clarify points and
assure yourself that the level and the mark are appropriate.
Indicative content in the mark scheme is provided as a guide for examiners. It is not intended to be
exhaustive and you must credit other valid points. Students do not have to cover all of the points
mentioned in the Indicative content to reach the highest level of the mark scheme.
An answer which contains nothing of relevance to the question must be awarded no marks.
Marking guidance question 11
This question is only testing Assessment Objective 1.
You should apply the level of response mark scheme to the explanation.
Read the explanation as a whole and decide if it is clear, partial, fragmented or nothing worthy of credit.
When you have made your decision; award the appropriate level by using L3, L2, L1 or L0 for the
explanation by using the drop down comment box.
Then put the total marks for the question in the mark box.
3
, MARK SCHEME – A-LEVEL ACCOUNTING – 7127/1 – JUNE 2019
Marking guidance for questions 14.2 & 15.3
These questions are testing Assessment Objectives 2 and 3
Be clear on the focus of the question.
Read the whole question and decide which level should be awarded, then add the appropriate level to
the script from the comment box e.g. L3, L2, L1 or L0.
Then put the marks awarded for the question in the mark box.
Remember that the indicative content provides possible answers but there may be others that are
equally valid and you should give credit to other lines of argument.
A good response does not need to include all the indicative content.
Marking guidance for questions 16 & 17
Be clear on the focus of the question.
When you have decided on the level to be awarded add the appropriate comment which best describes
the response to the end of the answer.
L5 Convincing judgement/recommendation fully supported by evaluation and analysis
of a wide range of evidence with a strong chain of reasoning.
L5 Astute judgement/recommendation which takes limitations of evidence into account.
L4 Judgement/recommendation is supported by evaluation and analysis of a range of
evidence.
L4 Judgement/recommendation is supported after some consideration of limitations of
evidence.
L3 Judgement/recommendation is incomplete but supported by analysis of a range of
evidence.
L3 Judgement/recommendation is developed but analysis and application are limited.
L2 Judgement/recommendation is given but with limited analysis and weak application.
L2 Limited range of evidence is analysed and limited chain of reasoning.
L1 Fragmented points of little/unclear relevance.
L1 No conclusion/recommendation/judgement with poor application.
L1 Conclusion unsupported.
L0 Has not attempted the question.
L0 Has not produced an answer of any value.
4
ACCOUNTING
7127/1
Paper 1 Financial Accounting
Mark scheme
June 2019
Version: 1.0 Final
, MARK SCHEME – A-LEVEL ACCOUNTING – 7127/1 – JUNE 2019
Mark schemes are prepared by the Lead Assessment Writer and considered, together with the relevant
questions, by a panel of subject teachers. This mark scheme includes any amendments made at the
standardisation events which all associates participate in and is the scheme which was used by them in
this examination. The standardisation process ensures that the mark scheme covers the students’
responses to questions and that every associate understands and applies it in the same correct way.
As preparation for standardisation each associate analyses a number of students’ scripts. Alternative
answers not already covered by the mark scheme are discussed and legislated for. If, after the
standardisation process, associates encounter unusual answers which have not been raised they are
required to refer these to the Lead Examiner.
It must be stressed that a mark scheme is a working document, in many cases further developed and
expanded on the basis of students’ reactions to a particular paper. Assumptions about future mark
schemes on the basis of one year’s document should be avoided; whilst the guiding principles of
assessment remain constant, details will change, depending on the content of a particular examination
paper.
Further copies of this mark scheme are available from aqa.org.uk
Copyright © 2019 AQA and its licensors. All rights reserved.
AQA retains the copyright on all its publications. However, registered schools/colleges for AQA are permitted to copy material from this booklet
for their own internal use, with the following important exception: AQA cannot give permission to schools/colleges to photocopy any material that
is acknowledged to a third party even for internal use within the centre.
2
, MARK SCHEME – A-LEVEL ACCOUNTING – 7127/1 – JUNE 2019
Level of response marking instructions
Level of response mark schemes are broken down into levels, each of which has a descriptor. The
descriptor for the level shows the average performance for the level. There are marks in each level.
Before you apply the mark scheme to a student’s answer read through the answer and annotate it (as
instructed) to show the qualities that are being looked for. You can then apply the mark scheme.
Step 1 Determine a level
Start at the lowest level of the mark scheme and use it as a ladder to see whether the answer meets the
descriptor for that level. The descriptor for the level indicates the different qualities that might be seen in
the student’s answer for that level. If it meets the lowest level then go to the next one and decide if it
meets this level, and so on, until you have a match between the level descriptor and the answer. With
practice and familiarity you will find that for better answers you will be able to quickly skip through the
lower levels of the mark scheme.
When assigning a level you should look at the overall quality of the answer and not look to pick holes in
small and specific parts of the answer where the student has not performed quite as well as the rest. If
the answer covers different aspects of different levels of the mark scheme you should use a best fit
approach for defining the level and then use the variability of the response to help decide the mark within
the level, i.e. if the response is predominantly level 3 with a small amount of level 4 material it would be
placed in level 3 but be awarded a mark near the top of the level because of the level 4 content.
Step 2 Determine a mark
Once you have assigned a level you need to decide on the mark. The descriptors on how to allocate
marks can help with this. The exemplar materials used during standardisation will help. There will be an
answer in the standardising materials which will correspond with each level of the mark scheme. This
answer will have been awarded a mark by the Lead Examiner. You can compare the student’s answer
with the example to determine if it is the same standard, better or worse than the example. You can then
use this to allocate a mark for the answer based on the Lead Examiner’s mark on the example.
You may well need to read back through the answer as you apply the mark scheme to clarify points and
assure yourself that the level and the mark are appropriate.
Indicative content in the mark scheme is provided as a guide for examiners. It is not intended to be
exhaustive and you must credit other valid points. Students do not have to cover all of the points
mentioned in the Indicative content to reach the highest level of the mark scheme.
An answer which contains nothing of relevance to the question must be awarded no marks.
Marking guidance question 11
This question is only testing Assessment Objective 1.
You should apply the level of response mark scheme to the explanation.
Read the explanation as a whole and decide if it is clear, partial, fragmented or nothing worthy of credit.
When you have made your decision; award the appropriate level by using L3, L2, L1 or L0 for the
explanation by using the drop down comment box.
Then put the total marks for the question in the mark box.
3
, MARK SCHEME – A-LEVEL ACCOUNTING – 7127/1 – JUNE 2019
Marking guidance for questions 14.2 & 15.3
These questions are testing Assessment Objectives 2 and 3
Be clear on the focus of the question.
Read the whole question and decide which level should be awarded, then add the appropriate level to
the script from the comment box e.g. L3, L2, L1 or L0.
Then put the marks awarded for the question in the mark box.
Remember that the indicative content provides possible answers but there may be others that are
equally valid and you should give credit to other lines of argument.
A good response does not need to include all the indicative content.
Marking guidance for questions 16 & 17
Be clear on the focus of the question.
When you have decided on the level to be awarded add the appropriate comment which best describes
the response to the end of the answer.
L5 Convincing judgement/recommendation fully supported by evaluation and analysis
of a wide range of evidence with a strong chain of reasoning.
L5 Astute judgement/recommendation which takes limitations of evidence into account.
L4 Judgement/recommendation is supported by evaluation and analysis of a range of
evidence.
L4 Judgement/recommendation is supported after some consideration of limitations of
evidence.
L3 Judgement/recommendation is incomplete but supported by analysis of a range of
evidence.
L3 Judgement/recommendation is developed but analysis and application are limited.
L2 Judgement/recommendation is given but with limited analysis and weak application.
L2 Limited range of evidence is analysed and limited chain of reasoning.
L1 Fragmented points of little/unclear relevance.
L1 No conclusion/recommendation/judgement with poor application.
L1 Conclusion unsupported.
L0 Has not attempted the question.
L0 Has not produced an answer of any value.
4
