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Cambrige Notes: Principles of Accounting: The format of Manufacturing Accounts
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Cambrige Notes: Principles of Accounting: The format of Manufacturing Accounts

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

Cambrige Notes: Principles of Accounting: The format of Manufacturing Accounts

By Garikai Dzoma|2025-02-12T09:34:32+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 structure of Manufacturing Accounts

In the other post we introduced you to manufacturing accounts
In this post we will look at typical formats of manufacturing accounts
This is not to say there are different formats, no
We are merely going to present a simple manufacturing account
Followed by one […]

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Principles of Accounting: Non-Profits Example: Statement of Financial Position
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Principles of Accounting: Non-Profits Example: Statement of Financial Position

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Non-Profits Example: Statement of Financial Position

By garikaib|2025-02-12T09:26:33+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for non profit organisations Example

This is a solution of the question shown here
We have also looked at accounting for non-profits here this is a solution to an example on the topic
It is a continuation of the answer that started here
First we need to ascertain the […]

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Cambrige Notes: Principles of Accounting: Statement of Affairs Example
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Cambrige Notes: Principles of Accounting: Statement of Affairs Example

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

Cambrige Notes: Principles of Accounting: Statement of Affairs Example

By Garikai Dzoma|2025-02-12T09:28:30+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: 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 […]

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Cambrige Notes: Principles of Accounting: Solution to Manufacturing Accounts Example
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Cambrige Notes: Principles of Accounting: Solution to Manufacturing Accounts Example

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

Cambrige Notes: Principles of Accounting: Solution to Manufacturing Accounts Example

By Garikai Dzoma|2025-02-12T09:34:52+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: Example question Manufacturing Accounts

This is a solution to a Manufacturing Account question that was posted here
The introduction to Manufacturing Accounts and concepts related to the topic can be found here
We explored the nature and format of Manufacturing Accounts here
We will start by showing the […]

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Principles of Accounting: Introduction to Liquidity Ratios
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Principles of Accounting: Introduction to Liquidity Ratios

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Introduction to Liquidity Ratios

By garikaib|2025-02-12T09:33:52+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: 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 creditors, bank […]

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Principles of Accounting: Introduction to Departmental Accounts
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Principles of Accounting: Introduction to Departmental Accounts

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Introduction to Departmental Accounts

By garikaib|2025-02-12T09:30:46+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Introduction to Departmental Accounts

It is customary to split a large business into various departments
For example large retail shops like Pick n’ Pay and OK
A shop might have:
- A furniture department e.g. kitchen tables and chairs
- Home electrical e.g. irons and fridges
- Refrigerated foods
- Fruit and Veggies
- Liquor
- Cleaning
- Foodstuffs etc

[…]

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Cambrige Notes: Principles of Accounting: Missing figures
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Cambrige Notes: Principles of Accounting: Missing figures

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

Cambrige Notes: Principles of Accounting: Missing figures

By Garikai Dzoma|2025-02-12T09:28:39+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: Single entry and Incomplete records: Missing figures

As already pointed out creating financial statements using single entry or incomplete records requires filling in the gaps
This is because naturally there will be some missing figures/amounts
These amounts have to be ascertained
We have already looked at how a Statement of […]

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Cambrige Notes: Principles of Accounting: Introduction to Accounting for Partnerships
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Cambrige Notes: Principles of Accounting: Introduction to Accounting for Partnerships

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

Cambrige Notes: Principles of Accounting: Introduction to Accounting for Partnerships

By Garikai Dzoma|2025-02-12T09:35:01+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: Introduction to Accounting for Partnerships

It is quite common for two or more people to enter into a business partnership with one another
We have already looked at types of business entities here
You can also read more about Partnerships in a post found here
While most of the […]

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Principles of Accounting: Acid Test Ratio / Quick Asset Ratio
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Principles of Accounting: Acid Test Ratio / Quick Asset Ratio

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Acid Test Ratio / Quick Asset Ratio

By garikaib|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
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Principles of Accounting: Departmental Accounting Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Departmental Accounting Example

By garikaib|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

We have already looked at the basics of departmental accounting here
Now it is time to look at an 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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February 2025

Question

Example Question