Principles of Accounts Notes Archives - Page 12 of 19 - Free ZIMSEC & Cambridge Revision Notes

Principles of Accounting: Non-Profits Example: Statement of Financial Position
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Principles of Accounting: Non-Profits Example: Statement of Financial Position

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Non-Profits Example: Statement of Financial Position

By garikaib|2025-02-12T09:26:33+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for non profit organisations Example

This is a solution of the question shown here
We have also looked at accounting for non-profits here this is a solution to an example on the topic
It is a continuation of the answer that started here
First we need to ascertain the […]

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Principles of Accounting: Partnership Financial Statements Example
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Principles of Accounting: Partnership Financial Statements Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Partnership Financial Statements Example

By garikaib|2025-02-12T09:28:29+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

As already said elsewhere partnerships also prepare Financial Statements at the end of every period
These do not differ much from say those of a Sole Trader
Financial Statements of a Partnership include:
An Income Statement for the period ended
An Appropriation account for the […]

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Principles of Accounting: Partnership Dissolution Solution to Example Question
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Principles of Accounting: Partnership Dissolution Solution to Example Question

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Partnership Dissolution Solution to Example Question

By garikaib|2025-02-12T09:38:04+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Partnership Dissolution Example

We looked at the basics of partnership dissolution here
We also posted an example question here
Now we will present the solution to that question

The realisation account

Debtors and Receivables are just one and the same thing
Creditors can also be referred to as […]

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Double Entry Exercise and Solutions

By garikaib|2025-02-12T09:25:43+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Remember there are two sides to every transaction. Image credit teslamotors.com ZIMSEC O Level Principles of Accounts: Double Entry Exercise and Solution[/title

You are required to open the asset and liability and capital accounts and record the following transactions for […]

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Books of Original Entry

By garikaib|2025-02-12T09:40:15+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

A diagram showing the stages involved from the moment a transaction occurs to the moment it is recorded into its appropriate ledger account. ZIMSEC O Level Principles of […]

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Introduction to Debentures

By garikaib|2025-02-12T09:23:27+02:00February 12th, 2025|Notes, O Level Business Studies Notes, Ordinary Level Notes, Principles of Accounts Notes|

A debenture certificate. Image credit scripophily.net ZIMSEC O Level Business Studies Notes: Introduction to Debentures

These are loan stocks that are issued to the company.
A debenture is simply a document or certificates that acknowledges said loan.
Debentures are creditors to the […]

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G Musandu Solution:Trading and Profit and Loss Account

By garikaib|2025-02-12T09:41:22+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Trading and Profit and Loss Account for G Muasandu. Image credit fidato.ca ZIMSEC O Level Principles of Accounts Notes: Sole Trader: Trading and profit and loss accounts and balance sheets: Other items

This is a solution to the question […]

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Principles of Accounting: Three Column Cash Book
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Principles of Accounting: Three Column Cash Book

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Three Column Cash Book

By garikaib|2025-02-12T09:04:01+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

Most businesses offer credit sales in order to increase sales
This creates the debtors accounts which are recorded in the ledger and appear in the Statement of Financial Position (Balance Sheet)
Cash and by extension working capital is the life blood of the business
To prevent […]

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Principles of Accounting: Balancing off the accounts
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Principles of Accounting: Balancing off the accounts

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Balancing off the accounts

By garikaib|2025-02-12T09:38:01+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Balancing off the accounts

Thus far we have only looked at how to record various transactions including:
1. Purchases
2. Sales
3. Returns Outwards and Returns Inwards
4. Other transactions such as those found in the General Ledger
You might have noticed an entry that is listed as “Balance c/d” or “Balance b/d” in […]

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