principles of accounts notes Archives - Free ZIMSEC & Cambridge Revision Notes

The Cash Book

By garikaib|2025-02-12T09:45:17+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Cash Book Example. Frank Wood's Business Accounting I Cash Book Example. Frank Wood’s Business Accounting I ZIMSEC O Level Principles of Accounts: Books of Original Entry: Cash Book

The Cash Book consists of the cash account and the bank account put together in one book.
The result is that all monies paid and […]

Comments Off

G Musandu Solution:Trading and Profit and Loss Account

By garikaib|2025-02-12T09:41:22+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Trading and Profit and Loss Account for G Muasandu. Image credit fidato.ca ZIMSEC O Level Principles of Accounts Notes: Sole Trader: Trading and profit and loss accounts and balance sheets: Other items

This is a solution to the question […]

Comments Off

Cambrige Notes: Sole Trader: Simple Statement of Financial Position Example 2
Gallery
Cambrige Notes: Sole Trader: Simple Statement of Financial Position Example 2

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

Cambrige Notes: Sole Trader: Simple Statement of Financial Position Example 2

By Garikai Dzoma|2025-02-12T09:39:37+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: Sole Trader: Simple Statement of Financial Position Example 2

From the following trial balance of J Nhiwatiwa after his first year’s trading, you are required to
draw up a trading and profit and loss account (Income Statement) for the year ended 30 June 20X8 as well as Statement of Financial Position as at […]

Comments Off

Cambrige Notes: Terms used in the Trading and Profit and Loss account/Income Statement
Gallery
Cambrige Notes: Terms used in the Trading and Profit and Loss account/Income Statement

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

Cambrige Notes: Terms used in the Trading and Profit and Loss account/Income Statement

By Garikai Dzoma|2025-02-12T09:04:21+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: Terms used in the Trading and Profit and Loss account/Income Statement

Gross profit

is the excess of sales over the cost of goods sold
If the amount of cost of goods sold is more than the amount of sales the result is a gross loss
Gross profit is found in the Trading […]

Comments Off

Cash Book Entries to record Cash Deposited into the Bank

By garikaib|2025-02-12T08:56:19+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Cash Book Example. Frank Wood's Business Accounting I Cash Book Example. Frank Wood’s Business Accounting I ZIMSEC O Level Principles of Accounts: Books of Original Entry: Cash Book Entries to record Cash Deposited into the Bank

If a business receives cash from its customers and
The cash is later paid into (deposited) into […]

Comments Off

G Musandu: Solution: Balance Sheet

By garikaib|2025-02-12T09:42:57+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Balance Sheet for G Musandu. Image credit ojac.org ZIMSEC O Level Principles of Accounts Notes: Sole Trader: Trading and profit and loss accounts and balance sheets: Other items

This is the Balance Sheet Solution for the Trial Balance Question found here.

Comments Off

Cambrige Notes: Income Statement and Statement of Financial Position: Other items
Gallery
Cambrige Notes: Income Statement and Statement of Financial Position: Other items

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

Cambrige Notes: Income Statement and Statement of Financial Position: Other items

By Garikai Dzoma|2025-02-12T09:39:45+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: Sole Trader: Trading and profit and loss accounts and balance sheets: Other items

The Trading and Profit and Loss Account (Income Statement) and Statement of Financial Position are almost always more complex in the real world when compared to the simple statements in these notes
There are several more factors to […]

Comments Off

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

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

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

By Garikai Dzoma|2025-02-12T09:04:32+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: 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 books
Instead the Net Profit increases the capital of the owner
This […]

Comments Off

Introduction to the Trading and Profit and Loss Account

By garikaib|2025-02-12T09:16:08+02:00February 12th, 2025|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Image credit pixabay.com Image credit pixabay.com ZIMSEC O Level Principles of Accounts Notes: Introduction to the Trading and Profit and Loss Account

The profit/loss of a business is calculated by preparing a trading and profit and loss account
It is sometimes called only the profit and loss account in error
It is also […]

Comments Off