Ordinary Level Notes Archives - Page 11 of 180 - Free ZIMSEC & Cambridge Revision Notes

Cambrige Notes: Principles of Accounting: Goodwill and Partnership businesses
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Cambrige Notes: Principles of Accounting: Goodwill and Partnership businesses

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

Cambrige Notes: Principles of Accounting: Goodwill and Partnership businesses

By Garikai Dzoma|2025-02-12T09:24:22+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

Now that we have explained the idea of goodwill
It is time we examine the concept of goodwill in relation with partnerships
As already explained accounting standards require that goodwill be recorded only when a business is bought or sold
Partnership business are […]

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Cambrige Notes: Principles of Accounting: Rate of inventory turnover
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Cambrige Notes: Principles of Accounting: Rate of inventory turnover

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

Cambrige Notes: Principles of Accounting: Rate of inventory turnover

By Garikai Dzoma|2025-02-12T09:27:51+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 Liquidity Ratios: Rate of inventory turnover

Proprietors often want to know how “well” their business is doing
Besides such measures as profitability
one way of estimating liquidity is through the rate of inventory turnover ratio
The ratio estimates the number of times inventory is sold or used in a given […]

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Cambrige Notes: Principles of Accounting: Example to Departmental Accounting Solution
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Cambrige Notes: Principles of Accounting: Example to Departmental Accounting Solution

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

Cambrige Notes: Principles of Accounting: Example to Departmental Accounting Solution

By Garikai Dzoma|2025-02-12T09:30:47+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 Departmental Accounts Example

This is a solution to the question posted here
It is an example of departmental accounting

OK Mart Hillside

Income Statement for the year ended 31 March 20×5

NB We are not asked to prepare the combined accounts but this should be straightforward enough. Please see […]

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Cambrige Notes: Principles of Accounting: Accounting for Capital and Revenue Expenditure
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Cambrige Notes: Principles of Accounting: Accounting for Capital and Revenue Expenditure

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

Cambrige Notes: Principles of Accounting: Accounting for Capital and Revenue Expenditure

By Garikai Dzoma|2025-02-12T09:34:15+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 Capital and Revenue Expenditure

Now that we have explained the differences between capital and revenue expenditure
It is time to look at how these are recorded in the books
Obviously the treatment is not the same

Accounting Treatment of Capital Expenditure

Capital expenditure must be recorded in the General […]

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Cambrige Notes: Principles of Accounting: Introduction to Control Accounts
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Cambrige Notes: Principles of Accounting: Introduction to Control Accounts

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

Cambrige Notes: Principles of Accounting: Introduction to Control Accounts

By Garikai Dzoma|2025-02-12T09:37:19+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 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 […]

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Cambrige Notes: Principles of Accounting: The Suspense Account
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Cambrige Notes: Principles of Accounting: The Suspense Account

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

Cambrige Notes: Principles of Accounting: The Suspense Account

By Garikai Dzoma|2025-02-12T09:40:44+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: The Suspense Account

A trial balance is prepared in order to:
1. Ease the process of preparing financial statements
2. To reveal errors
Errors that are revealed by the trial balance include:
1. Addition and other arithmetic errors
2. Single/Incomplete entries into the books
3. Entering different amounts on the debit and credit sides […]

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Cambrige Notes: G Musandu: Solution: Statement of Financial Position
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Cambrige Notes: G Musandu: Solution: Statement of Financial Position

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

Cambrige Notes: G Musandu: Solution: Statement of Financial Position

By Garikai Dzoma|2025-02-12T09:44:09+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 Statement of Financial Position: Other items

This is the Statement of Financial Solution for the Trial Balance Question found here.

G Musandu

Statement of Financial Position as at 30 September 20×9

To access more topics go to the

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Cambrige Notes: Principles of Accounting: Discount Allowed
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Cambrige Notes: Principles of Accounting: Discount Allowed

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

Cambrige Notes: Principles of Accounting: Discount Allowed

By Garikai Dzoma|2025-02-12T08:57:09+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: Three Column Cash Book: Discount Allowed

As already pointed out elsewhere cash and cash equivalent are the life blood of business
It is also common cause that most businesses do sell goods on credit
To encourage prompt payment businesses offer discounts to their customers
When a business offers […]

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Cambrige Notes: Partnership Business
Cambrige Notes: Partnership Business

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

Cambrige Notes: Partnership Business

By Garikai Dzoma|2025-02-12T09:00:54+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: Partnership Business

Characteristics/Features

A partnership is an unincorporated association of two or more individuals to carry on a business for profit. General partnerships are usually made up of 2-20 partners. Special partnerships such as those formed by professionals who are not allowed to form companies e.g. Accountants, Dentists etc. can have 2-∞ […]

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