Book Keeping Olevel Notes
BOOK KEEPING O LEVEL(FORM TWO) NOTES – BOOK OF PRIME ENTRY(1)
BOOK OF PRIME ENTRYJOURNALSJournal is French word meaning “Daily Record”. It is used to record transactions at first before the businessman forget the exact details
BOOK KEEPING O LEVEL(FORM ONE) NOTES – CLASSIFICATION ACCOUNTING
CLASSIFICATION ACCOUNTINGAccount can be classified into two main categories; a). Personal account. b). Impersonal account. 1. PERSONAL ACCOUNTPersonal account is for a name of persons
BOOK KEEPING O LEVEL(FORM FOUR) NOTES – DEPARTMENT ACCOUNT
DEPARTMENT ACCOUNTFor The enterprise which has branches about four, five and so on, we need to know theProfit obtained in each branch or department.This will
BOOK KEEPING O LEVEL(FORM FOUR) NOTES – DEPARTMENT ACCOUNT
DEPARTMENT ACCOUNTFor The enterprise which has branches about four, five and so on, we need to know theProfit obtained in each branch or department.This will
BOOK KEEPING O LEVEL(FORM TWO) NOTES – THREE COLUMN CASH BOOK
THREE COLUMN CASH BOOKTHE THREE COLUMN CASH AND DISCOUNT. Is the cash book which contains three columns namely;- cash column, bank column and discount column.DISCOUNT
BOOK KEEPING O LEVEL(FORM ONE) NOTES – FINAL ACCOUNT
FINAL ACCOUNTTrading Account & Profit and Loss AccountPurpose of business is to earn profit. Trader is in position to know how well he has fared
BOOK KEEPING O LEVEL(FORM FOUR) NOTES – PARTNERSHIP ACCOUNT
PARTNERSHIP ACCOUNTPartnership may be defined as relationship between persons carrying on a business in common with a view of profit.In a business partnership two or
BOOK KEEPING O LEVEL(FORM TWO) NOTES – GOVERNMENT ACCOUNTING
GOVERNMENT ACCOUNTING Is the composite activities of analyzing, summarizing, reporting and interpreting the financial government unit.PURPOSE OF GOVERNMENT ACCOUNTING1. To provide required information to the
BOOK KEEPING O LEVEL(FORM ONE) NOTES – DOUBLE ENTRY SYSTEM
DOUBLE ENTRY SYSTEMMeaning:Is the book keeping principle of recording transactions twice in a book of account whereby the principle states that every debit entry must
BOOK KEEPING O LEVEL(FORM THREE) NOTES – ADJUSTMENT
ADJUSTMENTYEAR END ADJUSTMENT Principles of Book keeping requires that all transactions made should be recorded at the time made should be recorded at the time
BOOK KEEPING O LEVEL(FORM TWO) NOTES – BOOK OF PRIME ENTRY(2)
SALES DAY BOOKWhen a sale taken place on credit, the seller send an invoice to the buyer. The invoice is made out in duplicate and
BOOK KEEPING O LEVEL(FORM THREE) NOTES – DEPRECIATION OF FIXED ASSETS-1
DEPRECIATION OF FIXED ASSETS-1 DEPRECIATIAON Definition. Is the decrease in value of assets or is the fall of value of Assets.What factors causes Depreciation.1) Physical
BOOK KEEPING O LEVEL(FORM TWO) NOTES – TWO COLUMN CASH BOOK
TWO COLUMN CASH BOOKAs the business grow up, the business/firm seems there are necessities of having sometimes to keep their money safe therefore, they usually
BOOK KEEPING O LEVEL(FORM FOUR) NOTES – LEMENTS OF AUDITING notes
LEMENTS OF AUDITING AUDIT AND INVESTIGATION DefinitionAUDIT – Is the formal examination, correction, and official endorsing of financial account, especially those of a business undertaken
BOOK KEEPING O LEVEL(FORM TWO) NOTES – TWO COLUMN CASH BOOK
TWO COLUMN CASH BOOKAs the business grow up, the business/firm seems there are necessities of having sometimes to keep their money safe therefore, they usually
BOOK KEEPING O LEVEL(FORM THREE) NOTES – PROVISIONS
PROVISIONSBAD DEBTS AND PROVISION FOR BAD DEBTS / PROVISION FOR DOUBTFUL DEBTS If a firm finds it is impossible to collect a debt that should