Differences between Ordinary and Preference Shares
Share certificate. Image credit blogspot.com ZIMSEC O Level Commerce Notes: Differences between Ordinary and Preference Shares
To access more topics go to the Commerce Notes page.
February 2025
Purchases Return Day Book Example
Image credit: koolkeyrings.com ZIMSEC O Level Principles of Accounts Notes: Purchases Return Day Book Example
You are to enter up the Purchases Day Book and the Returns Outwards Day Book from the following details, then to post the items to the relevant accounts in the Purchases Ledger and to show […]
The format of a Balance Sheet/Statement of Financial Position
ZIMSEC O Level Principles of Accounts Notes: The format of a Balance Sheet/Statement of Financial Position
The Name of the Business(The Name of the Sole Trader is used in Sole Trader Businesses)
Statement of Financial Position as at 31 December 2016
- The name of the business is to be replaced by the name of the sole […]
The Accounting Cycle
ZIMSEC O Level Principles of Accounting 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 steps in […]
Principles of Accounting: Trade Discount
ZIMSEC O Level Principles of Accounts Notes: Trade Discount
- Generally most businesses especially wholesalers and manufacturers have three types of customers:
- The General Public who buy only a few items
- Traders who only buy a few items
- Traders a large number of goods
- Traders have to eventually sell to their own customers in their own areas for example […]
Principles of Accounting: Introduction to Accounting Concepts
ZIMSEC O Level Principles of Accounting Notes: Introduction to Accounting Concepts
- In the real world various measurement standards have been devised to aid communication, comparisons, trade and the sharing of ideas
- For example units of measurement such as grams, meters, liters etc are universally used
- We know what a kilogram looks like
- Before the invention of these standards people […]
Principles of Accounting: Double entry for depreciation example
ZIMSEC O Level Principles of Accounts Notes: Double entry for depreciation example
- Here we will assume that you have read
- The topic about the rationale behind depreciation
- The topic about the methods of calculating depreciation
- The entries required to record depreciation in the books
- If not you should click on each of the above links and […]
Principles of Accounting: Bank Reconciliation Statement Example
ZIMSEC O Level Principles of Accounts Notes: Bank Reconciliation Statement Example
- As discussed here preparing a bank reconciliation statement involves three steps:
- Obtaining the current bank statement
- Updating the Cash Book
- Preparing the Bank reconciliation statement
- Now we will look at an example:
Draw up a bank reconciliation statement, after writing the cash book up to date, ascertaining the […]
Principles of Accounting: William Sachikonye Income Statement
ZIMSEC O Level Principles of Accounting: Single entry and Incomplete records: Example 2
- This is a solution including workings for the question posted here
- We are attempting to create an Income Statement so naturally we will start by calculating the sales figure for the year
Sales calculation for the year ended 31 March 20×6
NB This is not a […]
Principles of Accounting: Capital and Current Accounts Example
ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Capital and Current Accounts Example
- Bearing in mind what we have said in the introduction to capital and current accountshere
- And the basic guidelines here
- It is important to add the fact in this topic will mostly deal with making entries into Capital and Current Accounts among […]