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

Cambrige Notes: Principles of Accounting: Profitability Ratios
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Cambrige Notes: Principles of Accounting: Profitability Ratios

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

Cambrige Notes: Principles of Accounting: Profitability Ratios

By Garikai Dzoma|2025-02-12T09:23:21+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

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

So we have already introduced you to accounting ratios
These ratios include a group of ratios that are known as profitability ratios
Such ratios measure how well a business performed in profit terms in a given period
At this level you are required to know how to calculate three […]

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Cambrige Notes: Principles of Accounting: Partnership Dissolution Example
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Cambrige Notes: Principles of Accounting: Partnership Dissolution Example

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

Cambrige Notes: Principles of Accounting: Partnership Dissolution Example

By Garikai Dzoma|2025-02-12T09:26:44+02:00February 12th, 2025|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 have looked at reasons why a partnership might dissolve here
Now we will look at an example question
The solution to this question can be found by clicking here

Question

Nkosi,Xo and Zack have been in partnership for several years, sharing profits and losses in […]

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Cambrige Notes: Principles of Accounting: Accounting for Non-Profits Example
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Cambrige Notes: Principles of Accounting: Accounting for Non-Profits Example

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

Cambrige Notes: Principles of Accounting: Accounting for Non-Profits Example

By Garikai Dzoma|2025-02-12T09:29:53+02:00February 12th, 2025|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

Having looked at how non-profits record and report their transactions
It is time to look at a worked example

On 1 January 20X8 The Lake Chivero Angling Club had the following assets:

Cash at bank $200
Snack bar stocks $800
Club house buildings $12,500

During the […]

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Cambrige Notes: Principles of Accounting: Introduction to Bad Debts
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Cambrige Notes: Principles of Accounting: Introduction to Bad Debts

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

Cambrige Notes: Principles of Accounting: Introduction to Bad Debts

By Garikai Dzoma|2025-02-12T09:33:06+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

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

To understand the concept of Provision for Doubtful debts first we must look at Bad Debts
As outlined during the discussion of the matching/accruals concept
Most businesses conduct business on credit in addition to cash sales
Typically with cash sales payment is received when the […]

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Cambrige Notes: Principles of Accounting: The Purchases Ledger
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Cambrige Notes: Principles of Accounting: The Purchases Ledger

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

Cambrige Notes: Principles of Accounting: The Purchases Ledger

By Garikai Dzoma|2025-02-12T09:36:20+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: The Purchases Ledger

A purchase is when good(s) are bought with intention of selling them later,
usually these goods will be sold at a profit
Items bought with the intention of using them in the business are known as assets
We have already looked at how to make entries in the […]

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Cambrige Notes: Income Statement and Statement of Financial Position: Other items
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Cambrige Notes: Income Statement and Statement of Financial Position: Other items

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

Cambrige Notes: Income Statement and Statement of Financial Position: Other items

By Garikai Dzoma|2025-02-12T09:39:45+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Sole Trader: Trading and profit and loss accounts and balance sheets: Other items

The Trading and Profit and Loss Account (Income Statement) and Statement of Financial Position are almost always more complex in the real world when compared to the simple statements in these notes
There are several more factors to […]

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Cambrige Notes: Principles of Accounting: Accruals and Financial Statements
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Cambrige Notes: Principles of Accounting: Accruals and Financial Statements

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

Cambrige Notes: Principles of Accounting: Accruals and Financial Statements

By Garikai Dzoma|2025-02-12T09:43:07+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Accruals and Financial Statements

Accruals are amounts owing at the end of the period when they are due
For this reason they are sometimes known as owings
There are two types of owings in busines:
1. Owed income which is accrued income at the end of the period for example when […]

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Cambrige Notes: Principles of Accounting: Manual processing
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Cambrige Notes: Principles of Accounting: Manual processing

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

Cambrige Notes: Principles of Accounting: Manual processing

By Garikai Dzoma|2025-02-12T08:55:57+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes Notes: Manual processing

Data processing has been performed manually for millennia (thousands of years)
Manual data processing literary means data processing by hand
Ancient merchants used to record their trading transactions on clay tablets
Kings would record their trade, census and tax data on clay, copper, bronze, brass and stone tablets

[…]

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Cambrige Notes: The Sales Returns and Purchases Returns Day Books
Cambrige Notes: The Sales Returns and Purchases Returns Day Books

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

Cambrige Notes: The Sales Returns and Purchases Returns Day Books

By Garikai Dzoma|2025-02-12T08:59:54+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: The Sales Returns and Purchases Returns Day Books

Most businesses allow customers to return goods that they have bought for various reasons
For example if the goods are ill-fitting, of the wrong color, they exceeded ordered quantity, were damaged in transit or are not functioning as expected i.e. malfunctioning.
The return […]

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