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Principles of Accounting: Company Accounts: Basic Terms
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Principles of Accounting: Company Accounts: Basic Terms

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Company Accounts: Basic Terms

By garikaib|2025-02-12T09:41:31+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Limited Liability Companies: Basic Terms

As pointed out elsewhere there are subtle differences between accounting for sole trader businesses, partnerships and non-profit entities when compared to accounting for limited liability companies
This is due to differences in the way limited liability companies conduct their business when compared to the rest

[…]

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Cambrige Notes: Principles of Accounting: Introduction to ethics and basic terms
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Cambrige Notes: Principles of Accounting: Introduction to ethics and basic terms

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

Cambrige Notes: Principles of Accounting: Introduction to ethics and basic terms

By Garikai Dzoma|2025-02-12T09:22:59+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 Business Ethics

History has shown that accountants occupy an important within the organisation
The financial well being is of fundamental importance to all stakeholders
Unlike other employees of the organisation an accountant’s responsibility is not exclusively to satisfy the needs of an individual client or employer
He/She need […]

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Cambrige Notes: Principles of Accounting: Partnership dissolution
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Cambrige Notes: Principles of Accounting: Partnership dissolution

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

Cambrige Notes: Principles of Accounting: Partnership dissolution

By Garikai Dzoma|2025-02-12T09:26:23+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: Accounting for Partnerships: Goodwill and Partnership businesses: Revaluation of Partnership Assets

While it is true that a new partnership is created when partners leave and join the partnership
The entries required to show this are actually different from the entries needed when a partnership does actual dissolve
From an accounting point […]

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Cambrige Notes: Principles of Accounting: William Sachikonye Statement of Financial Position
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Cambrige Notes: Principles of Accounting: William Sachikonye Statement of Financial Position

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

Cambrige Notes: Principles of Accounting: William Sachikonye Statement of Financial Position

By Garikai Dzoma|2025-02-12T09:29:34+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: Single entry and Incomplete records: Example 2

This is a continuation of the question posted here and
It is the last part of the solution found here
Now that we have created the Income Statement it is time to create the Statement of Financial Position

William Sachikonye Statement of Financial […]

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Cambrige Notes: Principles of Accounting: Disposal of Fixed Assets
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Cambrige Notes: Principles of Accounting: Disposal of Fixed Assets

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

Cambrige Notes: Principles of Accounting: Disposal of Fixed Assets

By Garikai Dzoma|2025-02-12T09:32:42+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: Disposal of Fixed Assets

Eventually all fixed assets (non-current assets) bought for resale reach their end of life
More often than not a non-current asset is sold way before it reaches its end of life
This can happen for any number of reasons:
- To raise cash and improve the business’s liquidity […]

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Cambrige Notes: Principles of Accounting: The Sales Ledger
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Cambrige Notes: Principles of Accounting: The Sales Ledger

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

Cambrige Notes: Principles of Accounting: The Sales Ledger

By Garikai Dzoma|2025-02-12T09:35:58+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 Sales Ledger

A sale occurs when goods bought with intention of reselling them are sold
We have already looked at the Sales Day Book and the Sales Leger here
We have already looked at how transactions can be entered in the Sales Day Book and transferred to the […]

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Cambrige Notes: Principles of Accounting: Bank Reconciliation Statement Overdraft Example
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Cambrige Notes: Principles of Accounting: Bank Reconciliation Statement Overdraft Example

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

Cambrige Notes: Principles of Accounting: Bank Reconciliation Statement Overdraft Example

By Garikai Dzoma|2025-02-12T09:39:21+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 Overdraft Example

We have looked at the process of preparing bank statements here
We also looked at an example here
However we have made the distinction between a debit bank balance an an overdrawn account
We will now look at an example of how to […]

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Cambrige Notes: Principles of Accounting: Introduction to Prepayments and Accruals
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Cambrige Notes: Principles of Accounting: Introduction to Prepayments and Accruals

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

Cambrige Notes: Principles of Accounting: Introduction to Prepayments and Accruals

By Garikai Dzoma|2025-02-12T09:42:35+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: Introduction to Prepayments and Accruals

It has been stated in another topic that financial statements are prepared using the matching concept
The concept states that when calculating profit:
Revenue must be matched with expenditure incurred in generating that revenue
In a simple and very small business most if not all transactions […]

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Cambrige Notes: The Accounting Cycle
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Cambrige Notes: The Accounting Cycle

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

Cambrige Notes: The Accounting Cycle

By Garikai Dzoma|2025-02-12T09:46:14+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: The Accounting Cycle

As has already been pointed out accounting includes the recording and presentation of transactions
This recording and presentation is done in a systemic manner i.e. it follows a set pattern
This pattern is known as the accounting cycle
The accounting cycle refers to the sequence of six […]

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