Cambridge O Level/ IGSCE Accounts Notes Archives - Page 13 of 19

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|2025-02-12T09:39:55+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: 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|2025-02-12T09:43:23+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: 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|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 […]

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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|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 […]

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Cambrige Notes: Introduction to Shares
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Cambrige Notes: Introduction to Shares

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

Cambrige Notes: Introduction to Shares

By Garikai Dzoma|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 […]

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Cambrige Notes: Statement of Account
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Cambrige Notes: Statement of Account

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

Cambrige Notes: Statement of Account

By Garikai Dzoma|2025-02-12T09:06:40+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Statement of Account

Also known as an account statement or customer statement.
It is a summary of all the transactions (for a particular customer) over a period of time.
It is issued by a seller to a buyer.
It is issued when goods or services are bought on credit.
It is sent as a […]

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

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

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

By Garikai Dzoma|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 […]

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Cambrige Notes: Principles of Accounting: Company Accounts: Introduction
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Cambrige Notes: Principles of Accounting: Company Accounts: Introduction

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

Cambrige Notes: Principles of Accounting: Company Accounts: Introduction

By Garikai Dzoma|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 […]

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

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

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

By Garikai Dzoma|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

This is a solution of the question shown here
We have also looked at accounting for non-profits here this is a solution to an example on the topic
It is a continuation of the answer that started here
First we need to […]

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

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

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

By Garikai Dzoma|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 […]

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February 2025

Solution

Save and Moyo

Income Statement […]