February 2025

Business Studies: The balance sheet

By |2025-02-12T09:43:21+02:00February 12th, 2025|Notes, O Level Business Studies Notes, Ordinary Level Notes|

ZIMSEC O Level Business Studies Notes: Business Finance and Accounting: The balance sheet

  • The entire financial accounting function rests on the premise that there are two aspects to every transaction
  • A debit and a credit
  • For every transaction a debit and credit is recorded
  • For example in a cash sale the asset of cash increases and is therefore credited […]
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Business Studies: Financial statements

By |2025-02-12T09:45:10+02:00February 12th, 2025|Notes, O Level Business Studies Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Business Studies Notes: Business Finance and Accounting: Financial statements/ Final Accounts

  • The accounting function exists mainly to record, analyse and present financial information
  • Presentation of financial information involves the preparation of what are known as final accounts
  • They are called final accounts because they are the last accounts to be prepared
  • They are also made at […]
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