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

Cambrige Notes: Financial statements

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Business Finance and Accounting: Financial statements/ Final Accounts

The accounting function exists mainly to record, analyse and present financial information
Presentation of financial information involves the preparation of what are known as final accounts
They are called final accounts because they are the last accounts to be prepared
They are also […]

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

As already said there are several books of Prime Entry namely:

Each of these books is devoted to a particular type of transaction. For example all Purchases returns […]

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ZIMSEC Principles of Accounts Notes: Users of Accounting Information.

Users of accounting information can be divided into two groups:
Internal users and,
External users.
Users of accounting information are sometimes known as stakeholders since they are affected and in turn affect the concerned entity’s operations.

Internal Users

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Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Introduction to the Statement of Financial Position

It is also used to be known as the Balance Sheet
It is a statement of the assets, liabilities, and capital of a business at a particular point in time
It is a financial snap shot of the business at a given point in […]

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Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes:Determining whether an account has a debit or credit balance

Sometimes in a bid to confuse you during the examination examiners will present you with a jumbled list of balances which might require you to determine whether the accounts should be on the debit side or credit side of the trial balance.

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