February 2025

Cambrige Notes: Principles of Accounting: Introduction to Bank Reconciliation Statements

By |2025-02-12T09:38:40+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Introduction to Bank Reconciliation Statements

  • When we looked at the Cash Book we mentioned that all bank related transactions are recorded in it
  • We glaringly ignored one fact the bank is also a business
  • They have their own set of records about our deposits and withdrawals
  • In modern times due […]
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Cambrige Notes: Principles of Accounting: The Accruals concept and the Materiality concept

By |2025-02-12T09:41:52+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: The Accruals concept and the Materiality concept

  • As we has already been pointed out in another topic here
  • The accounting function is governed by several concepts which form part of what are known as International Financial Reporting Standards
  • In this topic we will look at:
    1. The Accruals/Matching Concept and

      2. […]

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Cambrige Notes: Principles of Accounts:Bank Overdraft example

By |2025-02-12T09:45:23+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Overdraft receipt. Note an overdraft is an asset to the bank. Image credit consumerist.com Overdraft receipt. Note an overdraft is an asset to the bank. Image credit consumerist.com

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: The Cash Book: Bank Overdraft example

  • Consider the following entries and enter into the books of J […]
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Cambrige Notes: Making Entries from Sales Day Book into the Sales Ledger Example

By |2025-02-12T08:58:24+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Posting to the Sales Ledger from the Sales Day Book

You are a bookkeeper for G Moyo. He are asks you to enter into the Sales Day Book the following transactions and post the items to them to their relevant accounts in the Sales Ledger and then show the transfer to the sales […]

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Cambrige Notes: Principles of Accounts: The Analytical Petty Cash Book

By |2025-02-12T09:01:51+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Source Documents: The petty Cash Book: The Analytical Petty Cash Book

  • Although petty cash payments are varied in nature
  • In most businesses there are common items that benefit from  petty cash payments
  • For example motor repair expenses, petrol expenses, employee bus fare, stationary etc
  • For this reason in such businesses, the […]
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Cambrige Notes: Simple Trading and Profit and Loss Account Example 2

By |2025-02-12T09:05:17+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Simple Trading and Profit and Loss Account (Income Statement) Example 2 

From the following trial balance of J Nhiwatiwa after his first year’s trading, you are required to
draw up a trading and profit and loss account for the year ended 30 June 20X8. A statement of financial position is not required.

Stock […]

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Cambrige Notes: Preparing a Trial Balance

By |2025-02-12T09:08:22+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Preparing a Trial Balance

  • As already said a trial balance is extracted from the ledger accounts by listing all the credit and debit balances that are in the entity’s books at the end of each trading period.
  • The following steps are involved in the extraction and preparation of a trial […]
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Uses and Limitations of Absorption Costing

By |2025-02-12T09:08:41+02:00February 12th, 2025|Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting|

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC  Advanced Accounting Level Notes: Absorption Costing: Uses and Limitations of Absorption Costing

  • According to research by CIMA the leading Management Institute
  • Traditional costing methods such as Absorption costing are still in widely used by manufacturing businesses throughout the world
  • There is are reasons for this

Uses/Advantages of Absorption costing

  • Often used […]
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Commerce: Management Functions: Coordinating

By |2025-02-12T09:26:45+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Management Functions: Coordinating

  • In our introduction to management, we defined what management is
  • In general terms, management is the work of doing work through others
  • We also mentioned the fact that management can be defined in terms of its functions/duties that a manager is expected to carry out
  • In that regard […]
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A Level: Factors Of Production: Introduction

By |2025-02-12T09:38:56+02:00February 12th, 2025|Cambridge AS A Level Business Studies, Notes, ZIMSEC A Level Business Studies, ZIMSEC Business Enterprise Skills|

Cambridge AS A Level Business Studies/ ZIMSEC Advanced Level Business Studies/ Business Enterprise Skills Notes: Factors Of Production: Introduction  

  • As already mentioned several times, businesses are a result of entrepreneurs using resources to satisfy needs and wants
  • Resources are also known as factors of production
  • There are four factors of production namely:
    • Land
    • Labour
    • Entrepreneurship
    • Capital

To […]

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