principles of accounting notes Archives - Page 4 of 22 - Free ZIMSEC & Cambridge Revision Notes

Principles of Accounting: Profitability Ratios
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Principles of Accounting: Profitability Ratios

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Profitability Ratios

By garikaib|2022-09-15T12:33:02+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Profitability Ratios

So we have already introduced you to accounting ratios
These ratios include a group of ratios that are known as profitability ratios
Such ratios measure how well a business performed in profit terms in a given period
At this level you are required to know how to calculate three profitability […]

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

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Example question Manufacturing Accounts

By garikaib|2022-09-15T12:32:53+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: 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 December 20X8: […]

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Principles of Accounting: Goodwill: When a new partner is admitted
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Principles of Accounting: Goodwill: When a new partner is admitted

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Goodwill: When a new partner is admitted

By garikaib|2022-09-15T12:32:44+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Goodwill and Partnership businesses: When a new partner is admitted

It is not uncommon for a partnership business to admit a new partner
This is happens for any number of reasons including:
- To admit a partner with new skills
- When the firm is expanding
- To replace a partner who is […]

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Cambrige Notes: Principles of Accounting: Partnership Financial Statements Example
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Cambrige Notes: Principles of Accounting: Partnership Financial Statements Example

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

Cambrige Notes: Principles of Accounting: Partnership Financial Statements Example

By Garikai Dzoma|2022-09-15T12:32:06+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Accounting for Partnerships: Partnership Financial Statements Example

As already said elsewhere partnerships also prepare Financial Statements at the end of every period
These do not differ much from say those of a Sole Trader
Financial Statements of a Partnership include:
An Income Statement for the period ended
An Appropriation account […]

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Cambrige Notes: Principles of Accounting: Partnership dissolution
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Cambrige Notes: Principles of Accounting: Partnership dissolution

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

Cambrige Notes: Principles of Accounting: Partnership dissolution

By Garikai Dzoma|2022-09-15T12:32:12+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Accounting for Partnerships: Goodwill and Partnership businesses: Revaluation of Partnership Assets

While it is true that a new partnership is created when partners leave and join the partnership
The entries required to show this are actually different from the entries needed when a partnership does actual dissolve
From an accounting point […]

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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|2022-09-15T12:32:00+02:00January 24th, 2023|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|2022-09-15T12:32:01+02:00January 24th, 2023|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|2022-09-15T12:31:47+02:00January 24th, 2023|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|2022-09-15T12:31:35+02:00January 24th, 2023|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|2022-09-15T12:31:19+02:00January 24th, 2023|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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January 2023

Manufacturing Accounts Example Question

OK Mart Hillside

Manufacturing Accounts Example Question