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

Principles of Accounting: Sales Control Accounts
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Principles of Accounting: Sales Control Accounts

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Sales Control Accounts

By garikaib|2025-02-12T09:22:30+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Sales Control Accounts

Sales control accounts present a summarized version of what should be in the Sales Ledger in a given period
Below is a typical Sales Control Account:

The exact look of the sales control account obviously depends on the nature of transactions involved

Sources of information when preparing

It […]

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Principles of Accounting: Statement of Affairs Example
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Principles of Accounting: Statement of Affairs Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Statement of Affairs Example

By garikaib|2025-02-12T09:42:48+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Single entry and Incomplete records: Statement of Affairs Example

We have explained what a Statement of Affairs is
Now we will look at an example of how to prepare a Statement of Affairs

Question

W Soja started his business on 1 April 20X2 with $35,000 in a bank account. Unfortunately
he did not keep proper books […]

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Principles of Accounting: Example question Manufacturing Accounts
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Principles of Accounting: Example question Manufacturing Accounts

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Example question Manufacturing Accounts

By garikaib|2025-02-12T08:58:14+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Example question Manufacturing Accounts

Having looked at the nature of Manufacturing Accounts
And the structure of these accounts
It is time we look at a worked example

Manufacturing Accounts Example Question

E Makonese is a manufacturer. His trial balance at 31 December 20X8 is as follows:

Additional information:

Stocks at 31 December 20X8: […]

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Principles of Accounting: Goodwill: Changes in Profit Sharing Ratio Example
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Principles of Accounting: Goodwill: Changes in Profit Sharing Ratio Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Goodwill: Changes in Profit Sharing Ratio Example

By garikaib|2025-02-12T09:37:27+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Goodwill and Partnership businesses: Changes in Profit Sharing Ratio Example

This is an example of a question where there are changes in the profit sharing ratio of a partnership
We have already looked at the entries involved in such cases here

Example question

Mhaka, Banda, Feruka and Tangwena run an Accounting […]

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

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Introduction to ethics and basic terms

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

ZIMSEC O Level Principles of Accounting: 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 not blindly […]

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February 2025

Sources of information when preparing

Question

Manufacturing Accounts Example Question

Example question