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Cambrige Notes: Principles of Accounting: Introduction to Bad Debts
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Cambrige Notes: Principles of Accounting: Introduction to Bad Debts

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Introduction to Bad Debts

By Garikai Dzoma|2025-02-12T09:33:06+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 Bad Debts

To understand the concept of Provision for Doubtful debts first we must look at Bad Debts
As outlined during the discussion of the matching/accruals concept
Most businesses conduct business on credit in addition to cash sales
Typically with cash sales payment is received when the […]

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Cambrige Notes: Principles of Accounting: The Purchases Ledger
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Cambrige Notes: Principles of Accounting: The Purchases Ledger

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: The Purchases Ledger

By Garikai Dzoma|2025-02-12T09:36:20+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 Purchases Ledger

A purchase is when good(s) are bought with intention of selling them later,
usually these goods will be sold at a profit
Items bought with the intention of using them in the business are known as assets
We have already looked at how to make entries in the […]

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Cambrige Notes: Income Statement and Statement of Financial Position: Other items
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Cambrige Notes: Income Statement and Statement of Financial Position: Other items

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Income Statement and Statement of Financial Position: Other items

By Garikai Dzoma|2025-02-12T09:39:45+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: Sole Trader: Trading and profit and loss accounts and balance sheets: Other items

The Trading and Profit and Loss Account (Income Statement) and Statement of Financial Position are almost always more complex in the real world when compared to the simple statements in these notes
There are several more factors to […]

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Cambrige Notes: Principles of Accounting: Accruals and Financial Statements
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Cambrige Notes: Principles of Accounting: Accruals and Financial Statements

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Accruals and Financial Statements

By Garikai Dzoma|2025-02-12T09:43:07+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: Accruals and Financial Statements

Accruals are amounts owing at the end of the period when they are due
For this reason they are sometimes known as owings
There are two types of owings in busines:
1. Owed income which is accrued income at the end of the period for example when […]

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Cambrige Notes: Principles of Accounting: Manual processing
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Cambrige Notes: Principles of Accounting: Manual processing

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Manual processing

By Garikai Dzoma|2025-02-12T08:55:57+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 Notes: Manual processing

Data processing has been performed manually for millennia (thousands of years)
Manual data processing literary means data processing by hand
Ancient merchants used to record their trading transactions on clay tablets
Kings would record their trade, census and tax data on clay, copper, bronze, brass and stone tablets

[…]

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Cambrige Notes: The Sales Returns and Purchases Returns Day Books
Cambrige Notes: The Sales Returns and Purchases Returns Day Books

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: The Sales Returns and Purchases Returns Day Books

By Garikai Dzoma|2025-02-12T08:59:54+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 Sales Returns and Purchases Returns Day Books

Most businesses allow customers to return goods that they have bought for various reasons
For example if the goods are ill-fitting, of the wrong color, they exceeded ordered quantity, were damaged in transit or are not functioning as expected i.e. malfunctioning.
The return […]

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Cambrige Notes: Introduction to Limited Liability Companies

By Garikai Dzoma|2025-02-12T09:03:14+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Pick n Pay is an example of a limited liability company. Image credit tmsm.co.zw

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Introduction to Limited Liability Companies

Contrary to popular belief among students and common people the word […]

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Cambrige Notes: Receipts and till slips
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Cambrige Notes: Receipts and till slips

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Receipts and till slips

By Garikai Dzoma|2025-02-12T09:06:27+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Receipts and till slips

Receipt

Is issued by a seller to a buyer.
It is used to acknowledge a cash payment.
It is evidence of a cash sale.
It shows:
1. The names and addresses of the buyer and seller.
2. date of receipt issue.
3. Reason for payment.
4. Description Of goods-if it is a receipt for […]

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Absorption of Overheads: More than one product one department worked example
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Absorption of Overheads: More than one product one department worked example

Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting

Absorption of Overheads: More than one product one department worked example

By garikaib|2025-02-12T09:25:51+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 of Overheads: More than one product one department worked example

We have already looks at the theory of overhead absorption here
We have also looked at allocation and apportionment here
We have also looked at the theory of how to calculate overhead […]

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The differences between marginal and absorption costing
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The differences between marginal and absorption costing

Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting

The differences between marginal and absorption costing

By garikaib|2025-02-12T09:29:36+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: Marginal Costing vs Absorption Costing

Having introduced you to both absorption costing and marginal costing
It is time to look at some of the differences between the two
In discussing marginal costing we have already pointed out the differences between it and marginal costing

[…]

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February 2025