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

February 2025

Principles of Accounting: Bad Debts and Provision for Doubtful Debts Example
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Principles of Accounting: Bad Debts and Provision for Doubtful Debts Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Bad Debts and Provision for Doubtful Debts Example

By garikaib|2025-02-12T09:09:18+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Bad Debts and Provision for Doubtful Debts Example

We have looked at Bad Debts, Provision for Doubtful Debts and Bad Debts Recovered
Now we will look at an example:

A business, which started trading on 1 January 20X7, adjusted its doubtful debt provision at the end of each year on a […]

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Principles of Accounting: Current Asset Ratio
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Principles of Accounting: Current Asset Ratio

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Current Asset Ratio

By garikaib|2025-02-12T09:34:59+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Introduction to Liquidity Ratios: Current Asset Ratio

As pointed out in the introduction
One of the liquidity ratios that you need to be familiar with is the Current Asset Ratio
Like all liquidity ratios it measures how well a business will be able to settle its short term obligations as and when […]

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Principles of Accounting: Introduction to Departmental Accounts
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Principles of Accounting: Introduction to Departmental Accounts

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Introduction to Departmental Accounts

By garikaib|2025-02-12T09:30:46+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Introduction to Departmental Accounts

It is customary to split a large business into various departments
For example large retail shops like Pick n’ Pay and OK
A shop might have:
- A furniture department e.g. kitchen tables and chairs
- Home electrical e.g. irons and fridges
- Refrigerated foods
- Fruit and Veggies
- Liquor
- Cleaning
- Foodstuffs etc

[…]

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Principles of Accounting: Income Statement and Appropriation Account Example
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Principles of Accounting: Income Statement and Appropriation Account Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Income Statement and Appropriation Account Example

By garikaib|2025-02-12T09:29:18+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

This is the first part solution to the question that was posted here
It examines the basic structure of Financial Statements of partnerships
In this part we will look at the Income Statement and Appropriation Account for Save and Moyo

Solution

Save and Moyo

Income Statement and Appropriation […]

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Principles of Accounting: Company Accounts: Introduction
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Principles of Accounting: Company Accounts: Introduction

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Company Accounts: Introduction

By garikaib|2025-02-12T09:35:57+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Limited Liability Companies: Introduction

It is important to note that all accounts are prepared on the basis that the owner and his/her business are two separate persons
This does not matter if the business is not considered a separate legal entity for example partnerships and sole trader businesses
However actual companies […]

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