principles of accounting notes Archives - Page 11 of 22 - Free ZIMSEC & Cambridge Revision Notes

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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Cambrige Notes: Principles of Accounting: Example question Manufacturing Accounts
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Cambrige Notes: Principles of Accounting: Example question Manufacturing Accounts

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

Cambrige Notes: Principles of Accounting: Example question Manufacturing Accounts

By Garikai Dzoma|2025-02-12T09:34:44+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

Having looked at the nature of Manufacturing Accounts
And the structure of these accounts
It is time we look at a worked example

Manufacturing Accounts Example Question

E Makonese is a manufacturer. His trial balance at 31 December 20X8 is as follows:

Additional information:

Stocks at 31 […]

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Cambrige Notes: Principles of Accounting: Purchases Control Accounts Example
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Cambrige Notes: Principles of Accounting: Purchases Control Accounts Example

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

Cambrige Notes: Principles of Accounting: Purchases Control Accounts Example

By Garikai Dzoma|2025-02-12T09:38:08+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: Purchases Control Accounts Example

Now that we have examined Purchases Control Accounts in detail
It is time to look at an example:

You are required to prepare a purchases ledger control account from the following for the month of April. The balance of the account is to be taken as the amount […]

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Cambrige Notes: Principles of Accounting: The Accruals concept and the Materiality concept
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Cambrige Notes: Principles of Accounting: The Accruals concept and the Materiality concept

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

Cambrige Notes: Principles of Accounting: The Accruals concept and the Materiality concept

By Garikai Dzoma|2025-02-12T09:41:52+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: The Accruals concept and the Materiality concept

As we has already been pointed out in another topic here
The accounting function is governed by several concepts which form part of what are known as International Financial Reporting Standards
In this topic we will look at:
1. The Accruals/Matching Concept and

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Cambrige Notes: Principles of Accounting: Three Column Cash Book
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Cambrige Notes: Principles of Accounting: Three Column Cash Book

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

Cambrige Notes: Principles of Accounting: Three Column Cash Book

By Garikai Dzoma|2025-02-12T08:56:53+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: Source Documents: Three Column Cash Book

Most businesses offer credit sales in order to increase sales
This creates the debtors accounts which are recorded in the ledger and appear in the Statement of Financial Position (Balance Sheet)
Cash and by extension working capital is the life blood of the business
To […]

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The Accounting Cycle
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The Accounting Cycle

Notes, Ordinary Level Notes, Principles of Accounts Notes

The Accounting Cycle

By garikaib|2025-02-12T08:56:10+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting Notes: The Accounting Cycle

As has already been pointed out accounting includes the recording and presentation of transactions
This recording and presentation is done in a systemic manner i.e. it follows a set pattern
This pattern is known as the accounting cycle
The accounting cycle refers to the sequence of six steps in […]

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Principles of Accounting: The Purchases Ledger
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Principles of Accounting: The Purchases Ledger

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: The Purchases Ledger

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

ZIMSEC O Level Principles of Accounts Notes: The Purchases Ledger

A purchase is when good(s) are bought with intention of selling them later,
usually these goods will be sold at a profit
Items bought with the intention of using them in the business are known as assets
We have already looked at how to make entries in the Purchases […]

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Principles of Accounting: Money measurement concept and Historical cost concept
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Principles of Accounting: Money measurement concept and Historical cost concept

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Money measurement concept and Historical cost concept

By garikaib|2025-02-12T09:23:06+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes:Money measurement concept and Historical cost concept

At the heart of the accounting discipline are two important concepts:
The Money measurement concept and
The Historical cost concept

The Money measurement concept

It is also known as the measurability concept
The concept dictates that only transactions and events that are capable of being measured in […]

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Principles of Accounting: Introduction to Bad Debts
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Principles of Accounting: Introduction to Bad Debts

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Introduction to Bad Debts

By garikaib|2025-02-12T09:07:33+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Introduction to Bad Debts

To understand the concept of Provision for Doubtful debts first we must look at Bad Debts
As outlined during the discussion of the matching/accruals concept
Most businesses conduct business on credit in addition to cash sales
Typically with cash sales payment is received when the goods […]

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