January 2023

Cambrige Notes: Principles of Accounting: Introduction to Control Accounts

By |2022-09-15T12:31:45+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 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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Cambrige Notes: Purchases Journal and the Purchases Ledger

By |2022-09-15T12:30:56+02:00January 24th, 2023|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 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

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Cambrige Notes: Sales Journal and the Sales Ledger

By |2022-09-15T12:30:57+02:00January 24th, 2023|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 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 |2022-09-15T12:40:09+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Image credit clarkewillmott.com 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

By |2022-09-15T12:30:58+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: 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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The format of a Balance Sheet/Statement of Financial Position

By |2022-09-15T12:40:01+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: The format of a Balance Sheet/Statement of Financial Position

The Name of the Business(The Name of the Sole Trader is used in Sole Trader Businesses)

Statement of Financial Position as at 31 December 2016

  • The name of the business is to be replaced by the name of the sole […]
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Cambrige Notes: The General Journal

By |2022-09-15T12:30:58+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: The General Journal

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

  •  The Sales Day Book
  • The Purchases Day Book
  • The Returns Inwards Day Book
  • The Returns Outwards Day Book.
  • The Cash Book

 

  • Each of these books is devoted to a particular type of transaction. For example all Purchases returns […]
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Principles of Accounting: Introduction to Control Accounts

By |2022-09-15T12:33:08+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts 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 as […]
Read More
Comments Off on Principles of Accounting: Introduction to Control Accounts
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