Cambridge O Level/ IGSCE Accounts Notes Archives - Free ZIMSEC & Cambridge Revision Notes

Cambrige Notes: Principles of Accounting: Introduction to Liquidity Ratios
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Cambrige Notes: Principles of Accounting: Introduction to Liquidity Ratios

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Introduction to Liquidity Ratios

By Garikai Dzoma|2022-09-15T12:31:51+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Introduction to Liquidity Ratios

Liquidity is a measure of how well a business can meet its short term obligations as and when they fall due
It is usually expressed in terms of how well the entity/business in question can convert its assets into cash
Short term obligations include amounts owed to […]

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Cambrige Notes: Principles of Accounting: Partnership Dissolution Solution to Example Question
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Cambrige Notes: Principles of Accounting: Partnership Dissolution Solution to Example Question

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Partnership Dissolution Solution to Example Question

By Garikai Dzoma|2022-09-15T12:32:13+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Accounting for Partnerships: Partnership Dissolution Example

We looked at the basics of partnership dissolution here
We also posted an example question here
Now we will present the solution to that question

The realisation account

Debtors and Receivables are just one and the same thing
Creditors can also be referred […]

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Cambrige Notes: Principles of Accounting: Non-Profits Example: Income and Expenditure Account
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Cambrige Notes: Principles of Accounting: Non-Profits Example: Income and Expenditure Account

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Non-Profits Example: Income and Expenditure Account

By Garikai Dzoma|2022-09-15T12:31:58+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Accounting for non profit organisations Example

This is the first part of the question posted here
We have already looked at accounting for non-profit organisations here

The Receipts and Payments Account

Chivero Angling Club Snack Bar Income Statement

Chivero Angling Club Income and Expenditure Account for the year ended 31 […]

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Cambrige Notes: Principles of Accounting: Bad Debts Recovered
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Cambrige Notes: Principles of Accounting: Bad Debts Recovered

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Bad Debts Recovered

By Garikai Dzoma|2022-09-15T12:31:43+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Bad Debts Recovered

We have looked at the concept of Bad and Doubtful Debts
For a number of reasons a debt that was previously considered bad might become recoverable:
- Maybe due to an agreement
- A court settlement/order
- The fortunes of the debtor improves
When this happens the debt must be […]

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Cambrige Notes: Principles of Accounting: Making entries in the Purchases Ledger
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Cambrige Notes: Principles of Accounting: Making entries in the Purchases Ledger

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Making entries in the Purchases Ledger

By Garikai Dzoma|2022-09-15T12:31:28+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Making entries in the Purchases Ledger

In this example we will make entries into the Purchases Ledger, Cash Book and General Ledger
We will be skipping the books of original entry
Although this is not how things are done in practice
Examination/Exercise question might ask you to make double entries […]

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Cambrige Notes: Principles of Accounting: Trial Balance and Errors
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Cambrige Notes: Principles of Accounting: Trial Balance and Errors

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Trial Balance and Errors

By Garikai Dzoma|2022-09-15T12:31:30+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Trial Balance and Errors

As already stated there are two main reasons for preparing a Trial Balance:
1. It is used as a starting point for preparing financial statements
2. To check for errors in the accounting system
Given that the second purpose of a Trial Balance is to check for errors […]

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Cambrige Notes: Principles of Accounting: Both prepaid and accrued income and expenses
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Cambrige Notes: Principles of Accounting: Both prepaid and accrued income and expenses

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Both prepaid and accrued income and expenses

By Garikai Dzoma|2022-09-15T12:31:38+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Both prepaid and accrued income and expenses

We have already looked at the treatment of:
However the assumption in each case was that these cases would occur in isolation
That is for example only an accrual would occur […]

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Cambrige Notes: Principles of Accounting: Electronic Data Processing
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Cambrige Notes: Principles of Accounting: Electronic Data Processing

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Electronic Data Processing

By Garikai Dzoma|2022-09-15T12:31:17+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes Notes: Electronic Data Processing

With the advent of computers electronic data processing has become prevalent
Electronic data processing is the use of computers in recording, classifying, manipulating,presenting and summarizing data
In the early days of computers electronic processing was rather limited
At first it involved the use of electronic calculators to […]

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Cambrige Notes: Sales Returns Day Book Example Sales Return Day Book Example
Cambrige Notes: Sales Returns Day Book Example Sales Return Day Book Example

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Sales Returns Day Book Example Sales Return Day Book Example

By Garikai Dzoma|2022-09-15T12:31:00+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Sales Return Day Book Example Sales Return Day Book Example

Enter up the Sales Day Book and the Returns Inwards Day Book from the following details. Then post to the customers’ accounts and show the transfers to the General Ledger.

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