garikaib

/Garikai Dzoma

About Garikai Dzoma

He holds an Honours in Accountancy degree from the University of Zimbabwe. He is passionate about technology and its practical application in today's world.

May 2018

Principles of Accounting: Introduction to ethics and basic terms

By | 2018-05-18T11:47:13+00:00 May 18th, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Introduction to Business Ethics

  • History has shown that accountants occupy an important within the organisation
  • The financial well being is of fundamental importance to all stakeholders
  • Unlike other employees of the organisation an accountant’s responsibility is not exclusively to satisfy the needs of an individual client or employer
  • He/She need not blindly […]

Principles of Accounting: Statements of Changes in Equity

By | 2018-05-18T10:13:02+00:00 May 18th, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Limited Liability Companies: Statements of Changes in Equity

  • Besides the Statement of Financial Position and Income Statement
  • Companies are also required to prepare a Statement of Changes in Equity
  • This statement as implied by its name shows changes in equity from the beginning to the end of the year
  • Equity […]

Principles of Accounting: Statement of Financial Position for Companies

By | 2018-05-18T09:38:24+00:00 May 18th, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

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

  • We have looked at the Income Statement for companies here
  • We will now look at the structure of the Statement of Financial Position
  • The Statement of Financial Position is almost identical to the one prepared for sole traders
  • In fact the Assets side […]

Principles of Accounting: Format of Income Statement for Companies

By | 2018-05-18T09:38:12+00:00 May 18th, 2018|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
  • […]

Principles of Accounting: Company Accounts: Basic Terms

By | 2018-05-14T07:21:17+00:00 May 14th, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Limited Liability Companies: Basic Terms

  • As pointed out elsewhere there are subtle differences between accounting for sole trader businesses, partnerships and non-profit entities when compared to accounting for limited liability companies
  • This is due to differences in the way limited liability companies conduct their business when compared to the rest
  • […]

June 2018 Examination Timetable

By | 2018-05-10T05:43:02+00:00 May 9th, 2018|Exams|

The June 2018 Timetable is out. Examinations are supposed to start on Monday 4 June for those who are writing the English Examination. Please find below a copy of the Ordinary Level Timetable for June 2018.

Although every effort has been made to ensure that this information is accurate and up to date, the information above is provided as is. […]

Principles of Accounting: Company Accounts: Introduction

By | 2018-05-07T09:54:17+00:00 May 7th, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: 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 actual companies […]

April 2018

Principles of Accounting: Partnership Dissolution Solution to Example Question

By | 2018-04-20T10:18:16+00:00 April 20th, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Partnership Dissolution Example

  • We looked at the basics of partnership dissolution here
  • We also posted an example question here
  • Now we will present the solution to that question

The realisation account

  • Debtors and Receivables are just one and the same thing
  • Creditors can also be referred to as […]

Principles of Accounting: Partnership Dissolution Example

By | 2018-04-20T10:18:02+00:00 April 20th, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Partnership Dissolution Example

  • We have looked at reasons why a partnership might dissolve here
  • Now we will look at an example question
  • The solution to this question can be found by clicking here

Question

Nkosi,Xo and Zack have been in partnership for several years, sharing profits and losses in the ratio […]

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