February 2025

Inventory valuation methods: AVCO

By |2025-02-12T08:56:26+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: Inventory valuation: Inventory valuation methods: Weighted Average Cost(AVCO)

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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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A Level Accounting: Introduction to costs and management accounting

By |2025-02-12T09:02:45+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: Introduction to Cost and Management Accounting

  • All Accounting can generally be divided into two branches:
    • Financial Accounting
    • Cost and Management Accounting

Financial Accounting

  • involves the recording the financial transactions of an organisation
  • And summarising them in periodic financial statements for external stakeholders who want to analyse and […]
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Inventory valuation methods: AVCO: Example Question

By |2025-02-12T09:02:46+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: Inventory valuation: Inventory valuation methods: Weighted Average Cost(AVCO): Example Question

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Absorption Costing: Over and Under-absorption

By |2025-02-12T09:44:41+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: Over and Under-absorption

  • As has been said before overhead absorption rates are calculated in advance
  • The formula for getting an overhead absorption rate is:
  • \text{OAR=}\dfrac{\text{Budgeted Production Overhead}}{\text{Budgeted Level of Activity}}
  • The budgeted level of activity can be units,labour hours, machine hours etc
  • It is […]
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Differences between Financial Accounting and Cost and Management Accounting

By |2025-02-12T09:07:58+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: Differences between Financial Accounting and Cost and Management Accounting

  • We have already looked at the basics and definition of both:
  • Financial Accounting as well as
  • Cost and Management Accounting in the post here
  • Here we will looked at a summarised version between the two:
  • Remember […]
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Inventory valuation methods: AVCO: Solution to Example Question

By |2025-02-12T09:03:26+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: Inventory valuation: Inventory valuation methods: Weighted Average Cost(AVCO): Example Question

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Introduction to costing terms

By |2025-02-12T09:09:49+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: Costing Terms

  • Before we get started with the actual costing process you need to get acquainted with various cost accounting terms and costing
  • It is important to note that this is not meant to be a glossary of all the terms in cost accounting
  • This is […]
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Inventory valuation methods: Effects of different methods on profit

By |2025-02-12T09:08:08+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: Inventory valuation: Inventory valuation methods: Effects of different valuation methods on profit

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Cost Behaviour: Fixed, Variable and Semi-variable costs

By |2025-02-12T09:11:24+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: Cost Behaviour: Fixed Costs, Variable Costs and Semi-Variable Costs

  • Costs can be classified in a number of ways
  • One way to classify costs is by behaviour
  • This involves determining how certain costs will vary according to the organisation’s level of activity
  • For example how rentals change […]
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