February 2025

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

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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 […]
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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

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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 […]
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Cambrige Notes: Principles of Accounting: Introduction to depreciation

By |2025-02-12T09:43:31+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 depreciation

  • In the beginning we looked at basic terms
  • One of these terms we defined was fixed assets which we defined assets that are held by a firm in the long-term  and are used in the production of its income and are not expected to be consumed or converted […]
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Cambrige Notes: Principles of Accounting: Bank Statement

By |2025-02-12T08:56:27+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: Source Documents:Bank Statement

  • It is a document or report released (on a fixed date every month) by banks
  • It lists:
    • The balance at the beginning of the period
    • deposits,
    • withdrawals,
    • checks paid,
    • interest earned,
    • service charges
    •  penalties incurred if any
    • The balance at the end of the period
  • on a given […]
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Cambrige Notes: Purchases Return Day Book Example

By |2025-02-12T09:00:28+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: Purchases Return Day Book Example

You are to enter up the Purchases Day Book and the Returns Outwards Day Book from the following details, then to post the items to the relevant accounts in the Purchases Ledger and to show the transfers to the General Ledger at the end of the month.

May 2013

  • 1 Credit […]
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Cambrige Notes: Introduction to Debentures

By |2025-02-12T09:03:32+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 Debentures
A debenture certificate. Image credit scripophily.net A debenture certificate. Image credit scripophily.net

  • These are loan stocks that are issued to the company.
  • A debenture is simply a document or certificates that acknowledges said loan.
  • Debentures are […]
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Cambrige Notes: Building Societies

By |2025-02-12T09:06:47+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Money and Banking: Building Societies

Building Societies

  • Is a type of a financial institution.
  • A building society is a financial organization which pays interest on investments by its members and lends capital for the purchase or improvement of houses.
  • The following building societies currently operate in Zimbabwe: CBZ Building Society, ZB building society, CABS […]
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Cambrige Notes: Principles of Accounting: Partnerships: Basic guidelines when answering questions

By |2025-02-12T09:20:42+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: Capital and Current Accounts

  • As we will continue to emphasize throughout the topic
  • You ought to pay attention to the requirements of the question and follow these
  • Where there are no guidelines or the question is silent remember the following provisions:
    • Profits and losses are to be […]
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