February 2025

Cambrige Notes: Principles of Accounting: Bank reconciliation statement and bank overdraft

By |2025-02-12T09:39:07+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: Bank reconciliation statement and bank overdraft

  • Preparing a bank reconciliation statement is easy
  • In the last example we assumed that the business had a positive balance shown by a a debit bank balance in the bank column of the cash book and a credit balance on the bank statement
  • In […]
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Cambrige Notes: Principles of Accounting: The Going concern concept and consistency concept

By |2025-02-12T09:42:26+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 Going concern concept and consistency concept

  • Going concern and consistency concepts are important in the accounting world

The going concern concept

  • It is one of the most fundamental concepts
  • It forms the assumption on which all accounting operations are carried out
  • According to this concept all accounting transactions must be recorded […]
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Cambrige Notes: Principles of Accounting: Importance of Accounting

By |2025-02-12T09:46:02+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: Importance of Accounting

  • Accounting plays an important role within the organisation
  • Accounting is important for a number of reasons:

Importance and role of accounting

  • It allows the business to record transactions for future reference
  • Provides information about whether a business is profitable or not
  • Provides information about the liquidity of the […]
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Cambrige Notes: Purchases Journal and Purchases Ledger example

By |2025-02-12T08:59:16+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Purchases Day Book example. Image credit Frank Wood's Business Accounting 1. Purchases Day Book example. Image credit Frank Wood’s Business Accounting 1.

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Purchases Journal and Purchases Ledger example

  • J Dzungu has the following purchases for the month of May 2015:
  • May 1 From D […]
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Cambrige Notes: The Double Entry Concept

By |2025-02-12T09:02:35+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

  • You need to pay close attention because this is where the accounting part in accounting begins.
  • This is the basic rule in accounting which states that any accounting transaction should be recorded twice.
  • Every debit should have a corresponding credit and every credit should have a corresponding credit.
  • No matter the […]
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Cambrige Notes: The contents of a Balance Sheet/Statement of Financial Position

By |2025-02-12T09:05:57+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 contents of a Balance Sheet/Statement of Financial Position

  • While a Statement of Financial Position could just be presented as a listing of the credit and debit balances at a given date
  • It would be more useful to record the information in a consistent and meaningful way
  • This would allow
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Commerce: The Communication Process

By |2025-02-12T08:57:30+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes:  Communication: The communication process

  • Communication is the secret sauce of civilisation and makes us who we are
  • Communication can be defined as the exchange of information, ideas, opinions and feelings
  • The process of communication and it’s stages can be shown on a diagram such shown below

communications_model-min The […]

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Commerce: Importance Of Entrepreneurship Skills To The Economy

By |2025-02-12T09:14:21+02:00February 12th, 2025|Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Importance Of Entrepreneurship Skills To The Economy

  • In order to understand the importance of enterprise skills within the Zimbabwean Economy
  • We first have to understand the important role that enterprises and entrepreneurship have in the economy
  • Successful entrepreneurship can lead to:
    • Economic transformation and development
    • Boost and increase the Gross Domestic Product […]
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Causes of the First World War: Part 1

By |2025-02-12T09:31:02+02:00February 12th, 2025|O Level History Notes|

USS Texas: The last floating Dreadnought USS Texas: The last floating Dreadnought: Image by Wiki-commons. Causes of the First World War 1914-1918

Preamble

Although not necessarily part of the ZIMSEC Ordinary Level History syllabus, it is nevertheless important to read up on the History of Europe from about 1850 so that you […]

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