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Cambrige Notes: Principles of Accounting: Example to Departmental Accounting Solution
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Cambrige Notes: Principles of Accounting: Example to Departmental Accounting Solution

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

Cambrige Notes: Principles of Accounting: Example to Departmental Accounting Solution

By Garikai Dzoma|2025-02-12T09:30:47+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 Departmental Accounts Example

This is a solution to the question posted here
It is an example of departmental accounting

OK Mart Hillside

Income Statement for the year ended 31 March 20×5

NB We are not asked to prepare the combined accounts but this should be straightforward enough. Please see […]

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Principles of Accounting: Accounting for Non-Profits Example
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Principles of Accounting: Accounting for Non-Profits Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Accounting for Non-Profits Example

By garikaib|2025-02-12T09:22:57+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

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

Having looked at how non-profits record and report their transactions
It is time to look at a worked example

On 1 January 20X8 The Lake Chivero Angling Club had the following assets:

Cash at bank $200
Snack bar stocks $800
Club house buildings $12,500

During the year to […]

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Cambrige Notes: Principles of Accounting: Single entry and Incomplete records
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Cambrige Notes: Principles of Accounting: Single entry and Incomplete records

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

Cambrige Notes: Principles of Accounting: Single entry and Incomplete records

By Garikai Dzoma|2025-02-12T09:28:02+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: Introduction

It is not at all uncommon for business owners to have incomplete accounting records
A lot of SMEs (small and medium enterprises) often do not keep double entry accounting systems
Consider the example of a banana vendor it would be ridiculous for him to keep […]

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Cambrige Notes: Principles of Accounting: Introduction to Manufacturing Accounts
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Cambrige Notes: Principles of Accounting: Introduction to Manufacturing Accounts

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

Cambrige Notes: Principles of Accounting: Introduction to Manufacturing Accounts

By Garikai Dzoma|2025-02-12T09:30:59+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 Manufacturing Accounts

Thus far we have taken it for granted that businesses purchase everything they sell
While it is true that a lot of business purchase inventory and sell it at a profit
There are some businesses that manufacture products
These manufacturing businesses typically:
- Acquire Raw materials
- Process this […]

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Principles of Accounting: Non-Profits Example: Income and Expenditure Account
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Principles of Accounting: Non-Profits Example: Income and Expenditure Account

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Non-Profits Example: Income and Expenditure Account

By garikaib|2025-02-12T09:23:53+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 the first part of the question posted here
We have already looked at accounting for non-profit organisations here

The Receipts and Payments Account

Chivero Angling Club Snack Bar Income Statement

Chivero Angling Club Income and Expenditure Account for the year ended 31 December 20×8

[…]

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

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

Cambrige Notes: Principles of Accounting: Statement of Affairs

By Garikai Dzoma|2025-02-12T09:28:13+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

As already covered in the introduction to single entry and incomplete records
One of the first required steps in order to prepare financial statements
Is to prepare a Statement of Affairs
A Statement of Affairs is a summary of an entity’s asset […]

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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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February 2025

OK Mart Hillside

The Receipts and Payments Account

Chivero Angling Club Snack Bar Income Statement

Chivero Angling Club Income and Expenditure Account for the year ended 31 December 20×8

Question