principles of accounting Archives - Page 4 of 18 - Free ZIMSEC & Cambridge Revision Notes

Cambrige Notes: Principles of Accounting: Non-Profits Example: Statement of Financial Position
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Cambrige Notes: Principles of Accounting: Non-Profits Example: Statement of Financial Position

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

Cambrige Notes: Principles of Accounting: Non-Profits Example: Statement of Financial Position

By Garikai Dzoma|2022-09-15T12:31:59+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 non profit organisations Example

This is a solution of the question shown here
We have also looked at accounting for non-profits here this is a solution to an example on the topic
It is a continuation of the answer that started here
First we need to […]

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Cambrige Notes: Principles of Accounting: Introduction to Provision for Doubtful Debts
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Cambrige Notes: Principles of Accounting: Introduction to Provision for Doubtful Debts

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

Cambrige Notes: Principles of Accounting: Introduction to Provision for Doubtful Debts

By Garikai Dzoma|2022-09-15T12:31:43+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 Provision for Doubtful Debts

As we have pointed out in our examination of bad debts the story does not end there
In our discussion of bad debts we stated that bad debts are only written of in the period in which they occur
Sometimes this happens many periods […]

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Cambrige Notes: Principles of Accounting: Bank Reconciliation Statement Overdraft Example
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Cambrige Notes: Principles of Accounting: Bank Reconciliation Statement Overdraft Example

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

Cambrige Notes: Principles of Accounting: Bank Reconciliation Statement Overdraft Example

By Garikai Dzoma|2022-09-15T12:31:50+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: Bank Reconciliation Statement Overdraft Example

We have looked at the process of preparing bank statements here
We also looked at an example here
However we have made the distinction between a debit bank balance an an overdrawn account
We will now look at an example of how to […]

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Cambrige Notes: Principles of Accounting: Discount Allowed
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Cambrige Notes: Principles of Accounting: Discount Allowed

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

Cambrige Notes: Principles of Accounting: Discount Allowed

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: Discount Allowed

As already pointed out elsewhere cash and cash equivalent are the life blood of business
It is also common cause that most businesses do sell goods on credit
To encourage prompt payment businesses offer discounts to their customers
When a business offers […]

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Principles of Accounting: Discount Allowed entries simple example
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Principles of Accounting: Discount Allowed entries simple example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Discount Allowed entries simple example

By garikaib|2022-09-15T12:33:32+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Source Documents: Three Column Cash Book: Discount Allowed Example

We have already looked at Discount Allowed here
Here we will look at a simple example in order to look at the entries you need to make
We sold goods worth $500 to J Chimusoro on credit on 8 January
On January 12 […]

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Principles of Accounting: Introduction to depreciation
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Principles of Accounting: Introduction to depreciation

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Introduction to depreciation

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

ZIMSEC O Level Principles of Accounts Notes: Introduction to depreciation

In the beginning we looked at basic terms
One of these terms we defined was fixed assets which we defined assets that are held by a firm in the long-term and are used in the production of its income and are not expected to be consumed or converted into […]

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

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Purchases Control Accounts Example

By garikaib|2022-09-15T12:33:06+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts 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 of […]

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Principles of Accounting: William Sachikonye Statement of Financial Position
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Principles of Accounting: William Sachikonye Statement of Financial Position

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: William Sachikonye Statement of Financial Position

By garikaib|2022-09-15T12:32:57+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Single entry and Incomplete records: Example 2

This is a continuation of the question posted here and
It is the last part of the solution found here
Now that we have created the Income Statement it is time to create the Statement of Financial Position

William Sachikonye Statement of Financial Position

[…]

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Principles of Accounting: The Appropriation Account
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Principles of Accounting: The Appropriation Account

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: The Appropriation Account

By garikaib|2022-09-15T12:32:50+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships:The Appropriation Account

Apart from a few nuances partnerships prepare normal financial statements
These are almost indistinguishable from those of Sole Traders
They include the usual Income Statement ( Trading and Profit and Loss Account) and the Statement of Financial Position
If this is a manufacturing partnership the Manufacturing Account is […]

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