principles of accounting Archives - Page 6 of 18 - 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|2025-02-12T09:25:39+02:00February 12th, 2025|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: Introduction to Manufacturing Accounts
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Principles of Accounting: Introduction to Manufacturing Accounts

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Introduction to Manufacturing Accounts

By garikaib|2025-02-12T09:42:49+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Introduction to Manufacturing Accounts

Thus far we have taken it for granted that businesses purchase everything they sell
While it is true that a lot of business purchase inventory and sell it at a profit
There are some businesses that manufacture products
These manufacturing businesses typically:
- Acquire Raw materials
- Process this raw materials […]

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Principles of Accounting: Partnership Entries for Goodwill: Changes in Profit Sharing Ratios
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Principles of Accounting: Partnership Entries for Goodwill: Changes in Profit Sharing Ratios

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Partnership Entries for Goodwill: Changes in Profit Sharing Ratios

By garikaib|2025-02-12T09:35:55+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Partnership Entries for Goodwill: Changes in Profit Sharing Ratios

The idea of goodwill has been explored in full here
We have also looked at the unique treatment of goodwill in partnership businesses here
Below we will look at what happens when there is a change in the profit sharing ratio of a […]

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Cambrige Notes: Principles of Accounting: Capital and Current Accounts Example
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Cambrige Notes: Principles of Accounting: Capital and Current Accounts Example

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

Cambrige Notes: Principles of Accounting: Capital and Current Accounts Example

By Garikai Dzoma|2025-02-12T09:20:50+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: Accounting for Partnerships: Capital and Current Accounts Example

Bearing in mind what we have said in the introduction to capital and current accountshere
And the basic guidelines here
It is important to add the fact in this topic will mostly deal with making entries into Capital and Current […]

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Cambrige Notes: Principles of Accounting: Goodwill and Partnership businesses
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Cambrige Notes: Principles of Accounting: Goodwill and Partnership businesses

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

Cambrige Notes: Principles of Accounting: Goodwill and Partnership businesses

By Garikai Dzoma|2025-02-12T09:24:22+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: Accounting for Partnerships: Goodwill and Partnership businesses

Now that we have explained the idea of goodwill
It is time we examine the concept of goodwill in relation with partnerships
As already explained accounting standards require that goodwill be recorded only when a business is bought or sold
Partnership business are […]

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Cambrige Notes: Principles of Account: Incomplete and Single Records Example 2
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Cambrige Notes: Principles of Account: Incomplete and Single Records Example 2

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

Cambrige Notes: Principles of Account: Incomplete and Single Records Example 2

By Garikai Dzoma|2025-02-12T09:29:11+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: Single entry and Incomplete records: Example 2

Our first example on this topic was relatively straight forward
We will now look at a more challenging and comprehensive example
On how to create Financial Statements in cases where only single entry and incomplete records are kept

The Question

William Sachikonye runs a second-hand […]

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Cambrige Notes: Principles of Accounting: Double entry for Depreciation
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Cambrige Notes: Principles of Accounting: Double entry for Depreciation

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

Cambrige Notes: Principles of Accounting: Double entry for Depreciation

By Garikai Dzoma|2025-02-12T09:32:11+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: Double entry for Depreciation

Once depreciation has been calculated using either:
The straight line method or
The reducing balance method
It is recorded in the books using double entry
Before we mention the entries it is important to state this

The old method of accounting for depreciation by recording it in the […]

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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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