ZIMSEC Principles of Accounts Notes

1. Basic Terms
2. Users of Accounting Information
3. Types of business organisations
4. Importance of Accounting

5. An introduction to Accounting concepts
a) Money measurement concept and Historical cost concept
b) The Going concern concept and Substance over form
c) The Accruals concept and the Materiality concept
d) The Prudence concept and the Business entity concept
1) Introduction
1) Sales Ledger
a) Entries into the Sales Ledger
2) Purchases Ledger
a) Entries into the Purchases Ledger
3) General Ledger
a) Entries into the General Ledger
4) Balancing of accounts
a) Balancing off the Accounts example