Ordinary Level Notes Archives - Free ZIMSEC & Cambridge Revision Notes

Principles of Accounting: Discount Received
Gallery
Principles of Accounting: Discount Received

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Discount Received

By garikaib|2025-02-12T09:13:13+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Source Documents: Three Column Cash Book: Discount Received

It is customary for businesses to sell goods on credit
In order to encourage prompt payment a business might offer a cash discount
In such instances the business will accept a lesser amount in settlement of a debt in exchange for early payment
On […]

Comments Off

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

Notes, Ordinary Level Notes, Principles of Accounts Notes

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

By garikaib|2025-02-12T09:02:14+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts 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 revealed […]

Comments Off

Principles of Accounting: Introduction to depreciation
Gallery
Principles of Accounting: Introduction to depreciation

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Introduction to depreciation

By garikaib|2025-02-12T09:34:42+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts 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 into […]

Comments Off

Principles of Accounting: Introduction to Control Accounts
Gallery
Principles of Accounting: Introduction to Control Accounts

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Introduction to Control Accounts

By garikaib|2025-02-12T09:18:22+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Introduction to Control Accounts

We have already pointed out that errors do occur during the bookkeeping and accounting process
Some errors can be revealed by creating a trial balance
Control Accounts are another mechanism that can be used to discover errors in the books
Control Accounts are used to minimize errors as […]

Comments Off

Principles of Accounting: Acid Test Ratio / Quick Asset Ratio
Gallery
Principles of Accounting: Acid Test Ratio / Quick Asset Ratio

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Acid Test Ratio / Quick Asset Ratio

By garikaib|2025-02-12T09:36:42+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Introduction to Liquidity Ratios: Acid Test Ratio / Quick Asset Ratio

As pointed out in our discussion of the Current Asset Ratio
Including stock when calculating stock might not be desirable
This is because it might not always be easy to turn the asset of stock/inventory into liquid cash so as to […]

Comments Off

Principles of Accounting: Departmental Accounting Example
Gallery
Principles of Accounting: Departmental Accounting Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Departmental Accounting Example

By garikaib|2025-02-12T09:32:10+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Introduction to Departmental Accounts Example

We have already looked at the basics of departmental accounting here
Now it is time to look at an example

Example Question

From the following list of balances you are required to prepare a departmental Income Statement in columnar form for the year ended 31 March 20X5, in respect of […]

Comments Off

Principles of Accounting: Income Statement and Appropriation Account Example
Gallery
Principles of Accounting: Income Statement and Appropriation Account Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Income Statement and Appropriation Account Example

By garikaib|2025-02-12T09:29:18+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: 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 and Appropriation […]

Comments Off

Biology Notes: Chemicals of Life: Test for Proteins
Gallery
Biology Notes: Chemicals of Life: Test for Proteins

Notes, O Level Biology Notes, Ordinary Level Notes

Biology Notes: Chemicals of Life: Test for Proteins

By garikaib|2025-02-12T09:27:39+02:00February 12th, 2025|Notes, O Level Biology Notes, Ordinary Level Notes|

ZIMSEC O Level Biology Notes: Chemicals of Life: Proteins

We have already looked at the properties and importance of proteins here
Here we will now look at the test for proteins in foods
Generally the Biuret’s test is used to test whether proteins are present in food
The Biuret’s reagent is made up by adding sodium hydroxide […]

Comments Off

Cambrige Notes: Principles of Accounting: Solution to Appropriation Account Example
Gallery
Cambrige Notes: Principles of Accounting: Solution to Appropriation Account Example

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

Cambrige Notes: Principles of Accounting: Solution to Appropriation Account Example

By Garikai Dzoma|2025-02-12T09:21:42+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: Solution to Appropriation Account Example

This is a solution to a question that is found here
You can also find the introduction to appropriation accounts here

Solution

Gandanga, Waeni and Banda

Appropriation Account for the Year ended 31 December 20×8

To access more topics go to the Cambridge IGCSE Accounting(0452)/O Level […]

Comments Off

Cambrige Notes: Principles of Accounting: Goodwill: When a new partner is admitted
Gallery
Cambrige Notes: Principles of Accounting: Goodwill: When a new partner is admitted

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

Cambrige Notes: Principles of Accounting: Goodwill: When a new partner is admitted

By Garikai Dzoma|2025-02-12T09:25:08+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: Goodwill and Partnership businesses: When a new partner is admitted

It is not uncommon for a partnership business to admit a new partner
This is happens for any number of reasons including:
- To admit a partner with new skills
- When the firm is expanding
- To replace a partner […]

Comments Off

February 2025

Example Question

Solution

Save and Moyo

Income Statement and Appropriation […]

Solution

Gandanga, Waeni and Banda

Appropriation Account for the Year ended 31 December 20×8