February 2025

Principles of Accounting: Introduction to depreciation

By |2025-02-12T09:34:42+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Introduction to depreciation

  • In the beginning we looked at basic terms
  • One of these terms we defined was fixed assets which we defined assets that are held by a firm in the long-term  and are used in the production of its income and are not expected to be consumed or converted into […]
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Principles of Accounting: Introduction to Control Accounts

By |2025-02-12T09:18:22+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Introduction to Control Accounts

  • We have already pointed out that errors do occur during the bookkeeping and accounting process
  • Some errors can be revealed by creating a trial balance
  • Control Accounts are another mechanism that can be used to discover errors in the books
  • Control Accounts are used to minimize errors as […]
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Principles of Accounting: Acid Test Ratio / Quick Asset Ratio

By |2025-02-12T09:36:42+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Introduction to Liquidity Ratios: Acid Test Ratio / Quick Asset Ratio

  • As pointed out in our discussion of the Current Asset Ratio
  • Including stock when calculating stock might not be desirable
  • This is because it might not always be easy to turn the asset of stock/inventory into liquid cash so as to […]
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Principles of Accounting: Departmental Accounting Example

By |2025-02-12T09:32:10+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Introduction to Departmental Accounts Example

Example Question

From the following list of balances you are required to prepare a departmental Income Statement in columnar form for the year ended 31 March 20X5, in respect of […]

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Principles of Accounting: Income Statement and Appropriation Account Example

By |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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Biology Notes: Chemicals of Life: Test for Proteins

By |2025-02-12T09:27:39+02:00February 12th, 2025|Notes, O Level Biology Notes, Ordinary Level Notes|

ZIMSEC O Level Biology Notes: Chemicals of Life: Proteins

  • We have already looked at the properties and importance of proteins here
  • Here we will now look at the test for proteins in foods
  • Generally the Biuret’s test is used to test whether proteins are present in food
  • The Biuret’s reagent is made up by adding sodium hydroxide […]
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Direct materials, indirect materials and labour

By |2025-02-12T09:15:01+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: Types of Costs: Direct materials, indirect materials and labour

  • It is important to point out at this stage that there are generally three types of entities:
    1. Manufacturing entities that make goods and sell them
    2. Merchandising entities that purchase goods and sell them for a profit […]
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Costing for Labour: Remuneration Methods

By |2025-02-12T09:11:54+02:00February 12th, 2025|Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting|

Cambrige AS and A Level Accounting Notes (9706): Costing for labour: Remuneration methods

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  • Now that we have examined the basics of labour within organisations
  • It is time to look at remuneration methods
  • There are three basic remuneration […]
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Cambrige Notes: Principles of Accounting: Introduction to Liquidity Ratios

By |2025-02-12T09:23:33+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 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 […]
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Cambrige Notes: Principles of Accounting: Partnership Dissolution Solution to Example Question

By |2025-02-12T09:27:01+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: 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 […]
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