Cambridge O Level/ IGSCE Accounts Notes Archives - Page 6 of 19

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: 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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February 2025

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