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Inventory valuation methods: Effects of different methods on profit
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Inventory valuation methods: Effects of different methods on profit

Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting

Inventory valuation methods: Effects of different methods on profit

By garikaib|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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As has already been demonstrated when we looked at an example […]

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Costing for Labour: Introduction
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Costing for Labour: Introduction

Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting

Costing for Labour: Introduction

By garikaib|2025-02-12T09:11:01+02:00February 12th, 2025|Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting|

Cambrige AS and A Level Accounting Notes (9706): Costing for labour

In most entities the two largest expenses are usually material/purchases and labour
We have already looked at costing for materials (inventory) here
We will now examine the costing for labour
First we will look at the basic terms involved and different labour setups and scenarios of typical […]

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Costing for Labour: Remuneration Methods
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Costing for Labour: Remuneration Methods

Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting

Costing for Labour: Remuneration Methods

By garikaib|2025-02-12T09:11:54+02:00February 12th, 2025|Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting|

Cambrige AS and A Level Accounting Notes (9706): Costing for labour: Remuneration methods

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Now that we have examined the basics of labour within organisations
It is time to look at remuneration methods
There are three basic remuneration […]

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Absorption Costing: Introduction
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Absorption Costing: Introduction

Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting

Absorption Costing: Introduction

By garikaib|2025-02-12T09:18:36+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: Absorption Costing: Introduction

As already said in the introduction to costing for overheads
Businesses need to know the cost of production for each unit of production
There are many reasons why a business would need to know this:
1. To calculate a selling price that […]

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Overhead apportionment, allocation and allotment
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Overhead apportionment, allocation and allotment

Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting

Overhead apportionment, allocation and allotment

By garikaib|2025-02-12T09:19:56+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: Overhead apportionment, allocation and allotment

As already pointed out here at the first step of absorption costing involves the processes of:
1. Allocation
2. Allotment and
3. Apportionment
In very simple cases where there is only product none of this is necessary as overheads can be easily […]

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Inventory valuation: Introduction
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Inventory valuation: Introduction

Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting

Inventory valuation: Introduction

By garikaib|2025-02-12T09:18:43+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: Introduction

It has already been pointed out elsewhere that there are several types of entities:
1. Manufacturing entities that make goods and sell them
2. Merchandising entities that purchase goods and sell them for a profit for example supermarkets
3. Entities that provide services for […]

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Absorption of Overheads: One Product Worked Example
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Absorption of Overheads: One Product Worked Example

Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting

Absorption of Overheads: One Product Worked Example

By garikaib|2025-02-12T09:23:35+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: Absorption of Overheads: One Product Worked Example

We have already looks at the theory of overhead absorption here
We have also looked at the theory of how to calculate overhead absorption rates (OARs) and why
Now we will look at a scenario where a […]

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International Accounting Standard 2 (IAS 2): Inventories
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International Accounting Standard 2 (IAS 2): Inventories

Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting

International Accounting Standard 2 (IAS 2): Inventories

By garikaib|2025-02-12T09:20:17+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: International Accounting Standard 2 (IAS 2): Inventories

This International Financial Reporting Standard deals with inventories specifically:
1. It defines what assets are to be considered inventories
2. It dictates how these inventories are to be valued
3. Prescribes how these inventories ought to be treated in accounting terms […]

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Absorption of Overheads: More than one product one department worked example
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Absorption of Overheads: More than one product one department worked example

Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting

Absorption of Overheads: More than one product one department worked example

By garikaib|2025-02-12T09:25:51+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: Absorption of Overheads: More than one product one department worked example

We have already looks at the theory of overhead absorption here
We have also looked at allocation and apportionment here
We have also looked at the theory of how to calculate overhead […]

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February 2025