principles of accounting Archives - Page 7 of 18 - Free ZIMSEC & Cambridge Revision Notes

Principles of Accounting: Bank Reconciliation Statement Example
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Principles of Accounting: Bank Reconciliation Statement Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Bank Reconciliation Statement Example

By garikaib|2025-02-12T09:35:22+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Bank Reconciliation Statement Example

As discussed here preparing a bank reconciliation statement involves three steps:
1. Obtaining the current bank statement
2. Updating the Cash Book
3. Preparing the Bank reconciliation statement
Now we will look at an example:

Draw up a bank reconciliation statement, after writing the cash book up to date, ascertaining the […]

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

Notes, Ordinary Level Notes, Principles of Accounts Notes

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

By garikaib|2025-02-12T09:26:33+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: 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 ascertain the […]

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Principles of Accounting: Income Statement and Appropriation Account Example
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Principles of Accounting: Income Statement and Appropriation Account Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Income Statement and Appropriation Account Example

By garikaib|2025-02-12T09:29:18+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Partnership Financial Statements Example

This is the first part solution to the question that was posted here
It examines the basic structure of Financial Statements of partnerships
In this part we will look at the Income Statement and Appropriation Account for Save and Moyo

Solution

Save and Moyo

Income Statement and Appropriation […]

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Principles of Accounting: Format of Income Statement for Companies
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Principles of Accounting: Format of Income Statement for Companies

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Format of Income Statement for Companies

By garikaib|2025-02-12T09:42:53+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Limited Liability Companies: Income Statement

As already pointed out in our introduction
The structure of the Income Statement ( Profit and Loss part) prepared for limited liability companies such as Private Limited (PVT LTD) and Public Limited Liability companies
is especially different from those prepared for sole traders and partnerships

[…]

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Cambrige Notes: Principles of Accounting: Profitability Ratios
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Cambrige Notes: Principles of Accounting: Profitability Ratios

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

Cambrige Notes: Principles of Accounting: Profitability Ratios

By Garikai Dzoma|2025-02-12T09:23:21+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: 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 […]

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Cambrige Notes: Principles of Accounting: Rate of inventory turnover
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Cambrige Notes: Principles of Accounting: Rate of inventory turnover

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

Cambrige Notes: Principles of Accounting: Rate of inventory turnover

By Garikai Dzoma|2025-02-12T09:27:51+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 Liquidity Ratios: Rate of inventory turnover

Proprietors often want to know how “well” their business is doing
Besides such measures as profitability
one way of estimating liquidity is through the rate of inventory turnover ratio
The ratio estimates the number of times inventory is sold or used in a given […]

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Cambrige Notes: Principles of Accounting: Causes of Depreciation
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Cambrige Notes: Principles of Accounting: Causes of Depreciation

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

Cambrige Notes: Principles of Accounting: Causes of Depreciation

By Garikai Dzoma|2025-02-12T09:31:10+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 depreciation

We have already explained that depreciation is the wasting away of fixed assets
We have also explained that it is treated as an expense in the Income Statement where it should appear at least once a year
Now we will look at the causes of depreciation
It is […]

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Cambrige Notes: Principles of Accounting: Introduction to Accounting for Partnerships
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Cambrige Notes: Principles of Accounting: Introduction to Accounting for Partnerships

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

Cambrige Notes: Principles of Accounting: Introduction to Accounting for Partnerships

By Garikai Dzoma|2025-02-12T09:35:01+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 Accounting for Partnerships

It is quite common for two or more people to enter into a business partnership with one another
We have already looked at types of business entities here
You can also read more about Partnerships in a post found here
While most of the […]

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