February 2025

Cambrige Notes: Principles of Accounting: Electronic Data Processing

By |2025-02-12T08:56:11+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: 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 […]
Comments Off on Cambrige Notes: Principles of Accounting: Electronic Data Processing

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

By |2025-02-12T09:00:05+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: 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.

2014

  • June 1 Credit sales to: B Danho $240; M Runde $126; G […]
Comments Off on Cambrige Notes: Sales Returns Day Book Example Sales Return Day Book Example

Cambrige Notes: Introduction to Shares

By |2025-02-12T09:03:28+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 Shares

  • This is a unit or portion of capital.
  • It represents a stake in a limited liability business.

Types/Classes of shares.

  • There are basically two types of shares:
  • Ordinary and preference shares.

Ordinary shares

  • these represent equity ownership in the business (i.e. they are owned by the owners of […]
Comments Off on Cambrige Notes: Introduction to Shares

Cambrige Notes: Principles of Accounting: Income Statement and Appropriation Account Example

By |2025-02-12T09:23:43+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 Financial Statements Example

  • This is the first part solution to the question that was posted here
  • It examines the basic structure of Financial Statements of partnerships
  • In this part we will look at the Income Statement and Appropriation Account for Save and Moyo

Solution

Save and Moyo

Income Statement […]

Comments Off on Cambrige Notes: Principles of Accounting: Income Statement and Appropriation Account Example

Cambrige Notes: Principles of Accounting: Company Accounts: Introduction

By |2025-02-12T09:27:10+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 Limited Liability Companies: Introduction

  • It is important to note that all accounts are prepared on the basis that the owner and his/her business are two separate persons
  • This does not matter if the business is not considered a separate legal entity for example partnerships and sole trader businesses
  • However […]
Comments Off on Cambrige Notes: Principles of Accounting: Company Accounts: Introduction

Cambrige Notes: Principles of Accounting: Non-Profits Example: Statement of Financial Position

By |2025-02-12T09:30:05+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

Comments Off on Cambrige Notes: Principles of Accounting: Non-Profits Example: Statement of Financial Position

Cambrige Notes: Principles of Accounting: Introduction to Provision for Doubtful Debts

By |2025-02-12T09:33:35+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 Provision for Doubtful Debts

  • As we have pointed out in our examination of bad debts the story does not end there
  • In our discussion of bad debts we stated that bad debts are only written of in the period in which they occur
  • Sometimes this happens many periods […]
Comments Off on Cambrige Notes: Principles of Accounting: Introduction to Provision for Doubtful Debts

Cambrige Notes: Principles of Accounting: General Ledger

By |2025-02-12T09:36:45+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: General Ledger

Comments Off on Cambrige Notes: Principles of Accounting: General Ledger

Cambrige Notes: Principles of Accounting: Errors that are not revealed by a Trial Balance

By |2025-02-12T09:40:07+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: Errors that are not revealed by a Trial Balance

  • A Trial Balance can reveal a number of errors as pointed out here
  • A number of errors however do not affect the balancing of a Trial Balance
  • This means such errors will remain hidden
  • To find out what errors are not […]
Comments Off on Cambrige Notes: Principles of Accounting: Errors that are not revealed by a Trial Balance
Go to Top