principles of accounts Archives - Free ZIMSEC & Cambridge Revision Notes

Making Entries from Sales Day Book into the Sales Ledger Example

By garikaib|2025-02-12T09:07:06+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Image credit: Frank Wood's Business Accounting 1 Image credit: Frank Wood’s Business Accounting 1 ZIMSEC O Level Principles of Accounts Notes: Posting to the Sales Ledger from the Sales Day Book

You are a bookkeeper for G Moyo. He are asks you to enter into the Sales Day Book the following transactions […]

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Cambrige Notes: Principles of Accounting: Company Accounts: Introduction
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Cambrige Notes: Principles of Accounting: Company Accounts: Introduction

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

Cambrige Notes: Principles of Accounting: Company Accounts: Introduction

By Garikai Dzoma|2025-02-12T09:27:10+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: Accounting for Limited Liability Companies: Introduction

It is important to note that all accounts are prepared on the basis that the owner and his/her business are two separate persons
This does not matter if the business is not considered a separate legal entity for example partnerships and sole trader businesses
However […]

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The General Journal

By garikaib|2025-02-12T09:12:36+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

An example of journal entries. Image credit Frank Wood’s Business Accounting 1 ZIMSEC O Level Principles of Accounts Notes: The General Journal

As already said there are several books of Prime Entry namely:

The Sales Day Book
The Purchases Day Book
The Returns […]

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Cambrige Notes: Principles of Accounting: Introduction to Control Accounts
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Cambrige Notes: Principles of Accounting: Introduction to Control Accounts

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

Cambrige Notes: Principles of Accounting: Introduction to Control Accounts

By Garikai Dzoma|2025-02-12T09:37:19+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 Control Accounts

We have already pointed out that errors do occur during the bookkeeping and accounting process
Some errors can be revealed by creating a trial balance
Control Accounts are another mechanism that can be used to discover errors in the books
Control Accounts are used to minimize errors […]

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The General Journal Example

By garikaib|2025-02-12T09:13:05+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

An example of journal entries. Image credit Frank Wood’s Business Accounting 1 ZIMSEC O Level Principles of Accounts Notes: The General Journal Example

You are a bookkeeper for J Benzi. You are to show the journal entries necessary to record […]

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Cambrige Notes: Purchases Journal and the Purchases Ledger

By Garikai Dzoma|2025-02-12T08:57:44+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

An example of entries being made in a Purchases Day Book. Image credit rtahosting.co.uk

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Purchases Journal and the Purchases Ledger

As has already been said transactions are first recorded […]

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Purchases Journal and Purchases Ledger example

By garikaib|2025-02-12T09:14:02+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Purchases Day Book example. Image credit Frank Wood’s Business Accounting 1. ZIMSEC O Level Principles of Accounts Notes: Purchases Journal and Purchases Ledger example

J Dzungu has the following purchases for the month of May 2015:
May 1 From D Muti: 4 […]

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Cambrige Notes: Sales Journal and the Sales Ledger

By Garikai Dzoma|2025-02-12T08:58:16+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

An example of a Sales Day Book showing entries. Image credit vc-doubleentry.co.uk

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Books of Original Entry: Sales Journal and the Sales Ledger

When cash or other payments e.g. Ecocash/Visa/MasterCard is received when […]

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Sole Trader: Trading and Profit and Loss Account and Capital Accounts

By garikaib|2025-02-12T09:18:14+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Image credit clarkewillmott.com ZIMSEC O Level Principles of Accounts Notes: Terms used in the Trading and Profit and Loss account

The Trading and Profit and Loss Account is not balanced off at the end of the trading period
This means there are in no corresponding “balance b/d” in the […]

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Cambrige Notes: Making Entries from Sales Day Book into the Sales Ledger Example
Cambrige Notes: Making Entries from Sales Day Book into the Sales Ledger Example

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

Cambrige Notes: Making Entries from Sales Day Book into the Sales Ledger Example

By Garikai Dzoma|2025-02-12T08:58:24+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: Posting to the Sales Ledger from the Sales Day Book

You are a bookkeeper for G Moyo. He are asks you to enter into the Sales Day Book the following transactions and post the items to them to their relevant accounts in the Sales Ledger and then show the transfer to the sales […]

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February 2025