February 2025

Cambrige Notes: Principles of Accounting: Correcting errors example

By |2025-02-12T09:40:37+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: Correcting errors example

The following errors were discovered in the books of K Musana on 31 March 20×7

  1. Purchases $1,410 on credit from A Rombe had been entered in B Rombe’s account
  2. A cheque of $94 […]
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Cambrige Notes: G Musandu: Solution: Statement of Financial Position

By |2025-02-12T09:44:09+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 Statement of Financial Position: Other items

  • This is the Statement of Financial Solution for the Trial Balance Question found here.

G Musandu

Statement of Financial Position as at 30 September 20×9

To access more topics go to the

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Cambrige Notes: Principles of Accounting: Discount Allowed

By |2025-02-12T08:57:09+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: Three Column Cash Book: Discount Allowed

  • As already pointed out elsewhere cash and cash equivalent are the life blood of business
  • It is also common cause that most businesses do sell goods on credit
  • To encourage prompt payment businesses offer discounts to their customers
  • When a business offers […]
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Cambrige Notes: Partnership Business

By |2025-02-12T09:00:54+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: Partnership Business

Characteristics/Features

  • A partnership is an unincorporated association of two or more individuals to carry on a business for profit. General partnerships are usually made up of 2-20 partners. Special partnerships such as those formed by professionals who are not allowed to form companies e.g. Accountants, Dentists etc. can have 2-∞ […]
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Cambrige Notes: Uses and the importance of the Trading and Profit and Loss Account

By |2025-02-12T09:04:12+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: Uses and the importance of the Trading and Profit and Loss Account

  • People set up businesses to make a profit
  • Profit is the main objective of most privately owned businesses
  • However a business may fail to make a profit
  • The business may make a loss instead
  • The owners of a business […]
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Cambrige Notes: Public Limited Companies

By |2025-02-12T09:07:23+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Business Organisations: Public Limited Companies

Formation

  • Membership is open to the public.
  • Membership is by invitation through a prospectus.
  • Formed by at least two shareholders and there is no upper limit.
  • Governed by the Companies Act.
  • The founding members have to draw up a prospectus, articles and memorandum of association and a statutory declaration and […]
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Absorption of Overheads: Solution to Reapportionment of service costs question

By |2025-02-12T09:40:23+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: Reapportionment of service costs where there is interwork

  • This is a solution to the question found here
  • First we will use the repeated distribution method to redistribute service costs
  • Lastly we will use the algebraic method to reapportion costs
  • We have already looked at why […]
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Commerce: Barriers To Effective Communication

By |2025-02-12T09:00:51+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes:  Communication: Barriers To Effective Communication

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Reasons Why Businesses/Startups Might Fail

By |2025-02-12T09:08:46+02:00February 12th, 2025|Cambridge AS A Level Accounting, 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: Enterprising/ Entrepreneurship : Reasons Why Businesses/Startups Might Fail

  • As has been hinted on time and time again not all businesses/startups are successful
  • There is a lot of statistics out there about just how many businesses fail int heir first year
  • Some […]
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Economic Philosophies: Socialism

By |2025-02-12T09:43:08+02:00February 12th, 2025|Notes, ZIMSEC A Level Business Studies, ZIMSEC Business Enterprise Skills|

ZIMSEC Advanced Level Business Studies/ Business Enterprise Skills Notes: Economic Philosophies: Socialism

  • Socialism is one of the two left-leaning economic philosophies
  • It is at the core of most countries that are led by left-wing politicians
  • Indeed some of its principles have been adopted even by capitalist societies
  • At its heart is the […]
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