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 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 FOUR) NOTES – CONSIGNMENT ACCOUNT
CONSIGNMENT ACCOUNTNATURE OF CONSIGNMENT. When a trader sold directly to the customer which they are in home countries or overseas, these are ordinary sales.However a
BOOK KEEPING O LEVEL(FORM FOUR) NOTES – BILL OF EXCHANGE
BILL OF EXCHANGEBill of exchange is legally defined as unconditional order in writing addressed by one person to another signed by a people to whom
BOOK KEEPING O LEVEL(FORM FOUR) NOTES – JOINT VENTURE
JOINT VENTUREIs a temporary partnership, it is formed when two or more people undertaken a certain business acting together instead of doing it separately, e.g.
BOOK KEEPING O LEVEL(FORM THREE) NOTES – CONTROL ACCOUNT
CONTROL ACCOUNTDue to their small number of business transactions small firms can operate effectively with one ledger. Large business firms have a large number of
BOOK KEEPING O LEVEL(FORM THREE) NOTES – ACCOUNT OF NON –TRADING ORGANIZATION
ACCOUNT OF NON –TRADING ORGANIZATIONNON –TRADING ORGANIZATIONNon trading organizations are those organizations which their main purpose is not to make profit but to provide services
BOOK KEEPING O LEVEL(FORM THREE) NOTES – MANUFACTURING ACCOUNT
MANUFACTURING ACCOUNTBusiness can be classified into two types, which are merchandising and manufacturing. Merchandising, this trading firm / business deals with the buying and selling
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
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 THREE) NOTES – DEPRECIATION OF FIXED ASSETS-2
DEPRECIATION OF FIXED ASSETS-2THE PROVISION FOR DEPRECIATION SPECIMEN QUESTION On 1st January 1998 a company purchased a motor van of cost of Tshs 160,000. It
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 – BANK RECONCILIATION STATEMENT
BANK RECONCILIATION STATEMENTWhen the money is deposited by us into bank, we debit the cash book in the bank column, on the other hand, on
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 TWO) NOTES – THE PETTY CASH BOOK
THE PETTY CASH BOOKDefinitionIs the cash book which used to record small expenses/expenditure which take place from time to time within the business.ORIs the book