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

February 2025

Principles of Accounting: Introduction to Provision for Doubtful Debts
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Principles of Accounting: Introduction to Provision for Doubtful Debts

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Introduction to Provision for Doubtful Debts

By garikaib|2025-02-12T09:08:38+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Introduction to Provision for Doubtful Debts

As we have pointed out in our examination of bad debts the story does not end there
In our discussion of bad debts we stated that bad debts are only written of in the period in which they occur
Sometimes this happens many periods after […]

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Principles of Accounting: Introduction to Liquidity Ratios
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Principles of Accounting: Introduction to Liquidity Ratios

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Introduction to Liquidity Ratios

By garikaib|2025-02-12T09:33:52+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Introduction to Liquidity Ratios

Liquidity is a measure of how well a business can meet its short term obligations as and when they fall due
It is usually expressed in terms of how well the entity/business in question can convert its assets into cash
Short term obligations include amounts owed to creditors, bank […]

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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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