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Business Studies: Liquidity ratios
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Business Studies: Liquidity ratios

Notes, O Level Business Studies Notes, Ordinary Level Notes

Business Studies: Liquidity ratios

By garikaib|2025-02-12T09:06:43+02:00February 12th, 2025|Notes, O Level Business Studies Notes, Ordinary Level Notes|

ZIMSEC O Level Business Studies Notes: Business Finance and Accounting: Ratio Analysis: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 in question can convert its assets into cash
Short term obligations include amounts owed […]

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Business Studies: Pressure groups in Zimbabwe
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Business Studies: Pressure groups in Zimbabwe

Notes, O Level Business Studies Notes, Ordinary Level Notes

Business Studies: Pressure groups in Zimbabwe

By garikaib|2025-02-12T09:37:16+02:00February 12th, 2025|Notes, O Level Business Studies Notes, Ordinary Level Notes|

ZIMSEC O Level Business Studies Notes: Aiding and influencing the business:Pressure groups in Zimbabwe

These are non-profit and usually voluntary organization whose members have a common cause for which they seek to influence political or corporate decision makers to achieve a declared objective
Pressure groups lobby on behalf of their members to ensure that their cause is held and […]

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

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounts: The Analytical Petty Cash Book

By garikaib|2025-02-12T09:18:35+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts 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 petty […]

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Principles of Accounting: Correcting Errors using suspense account
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Principles of Accounting: Correcting Errors using suspense account

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Correcting Errors using suspense account

By garikaib|2025-02-12T09:12:26+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Correcting Errors using suspense account

In another topic we learnt about the need, use and purpose of the suspense account
In this topic we will learn about how to correct errors that involve the suspense account
If you are looking at how errors that are not revealed by the trial balance […]

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Principles of Accounting: The reducing balance/diminishing balance method
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Principles of Accounting: The reducing balance/diminishing balance method

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: The reducing balance/diminishing balance method

By garikaib|2025-02-12T09:40:20+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: The reducing balance/diminishing balance method

As discussed in this topic there are number of ways in which depreciation can be calculated
The reducing balance method is one of these methods
It is also known as the diminishing balance method
A fixed percentage is deducted from the first from cost then subsequently […]

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Principles of Accounting: Sales Control Account Example
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Principles of Accounting: Sales Control Account Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Sales Control Account Example

By garikaib|2025-02-12T09:27:23+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Sales Control Account Example

We have looked at the nature of the Sales Ledger Control Account in detail
Now it is time to look at a detailed example:

Question

Prepare a sales ledger control account from the following information for October 20X6, carrying down the balance at 31 October:

Oct 1 Sales ledger balances […]

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Principles of Accounting: Statement of Affairs Example
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Principles of Accounting: Statement of Affairs Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Statement of Affairs Example

By garikaib|2025-02-12T09:42:48+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Single entry and Incomplete records: Statement of Affairs Example

We have explained what a Statement of Affairs is
Now we will look at an example of how to prepare a Statement of Affairs

Question

W Soja started his business on 1 April 20X2 with $35,000 in a bank account. Unfortunately
he did not keep proper books […]

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Principles of Accounting: Example question Manufacturing Accounts
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Principles of Accounting: Example question Manufacturing Accounts

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Example question Manufacturing Accounts

By garikaib|2025-02-12T08:58:14+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Example question Manufacturing Accounts

Having looked at the nature of Manufacturing Accounts
And the structure of these accounts
It is time we look at a worked example

Manufacturing Accounts Example Question

E Makonese is a manufacturer. His trial balance at 31 December 20X8 is as follows:

Additional information:

Stocks at 31 December 20X8: […]

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Principles of Accounting: Partnership Entries for Goodwill: Changes in Profit Sharing Ratios
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Principles of Accounting: Partnership Entries for Goodwill: Changes in Profit Sharing Ratios

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Partnership Entries for Goodwill: Changes in Profit Sharing Ratios

By garikaib|2025-02-12T09:35:55+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Partnership Entries for Goodwill: Changes in Profit Sharing Ratios

The idea of goodwill has been explored in full here
We have also looked at the unique treatment of goodwill in partnership businesses here
Below we will look at what happens when there is a change in the profit sharing ratio of a […]

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