Accounts Olevel Important topics and problem discussion

[Muhammad Zain Qasmi]

Well, criticisms aside - Guys it would be really nice of yall if anyone could provide me the best/most efficient way to learn ALMOST ALL OF POA (Theory) paper tomorrow in these remaining 10 -12 hrs or so...provided I am only aware of the basic concepts like Double Entry, T-Accounts, Trial Balance...maybe ledgers too :S
Thanks alot! Most importantly, IM NOT KIDDING :/

 

[Idon'tknow]

Is valuation of stock at cost price included in our syllbus?

 

[muzirox]

kamidada
Dates wd year r important in making ledger accounts & if it is thn can we write thm in short form like 'SEPT' for 'SEPTEMBER'

 

[hashim2]

can insurance claim come in final a/c. If yes, then please explain.

 

[AlphaBeta]

can insurance claim come in final a/c. If yes, then please explain.

 

[AlphaBeta]

kamidada
Dates wd year r important in making ledger accounts & if it is thn can we write thm in short form like 'SEPT' for 'SEPTEMBER'

no ! abbreviation is critisized in examiners report

 

[rackstagryan]

guyz watz da diff btween capital employed and owners capital?????

 

[scouserlfc]

guyz watz da diff btween capital employed and owners capital?????

Capital employed is the total Net Assets or the total amount of money or resources used in the business while owners capital is the amount of money the bsuiness owes to the owner !

 

[rackstagryan]

Capital employed is the total Net Assets or the total amount of money or resources used in the business while owners capital is the amount of money the bsuiness owes to the owner !

ooh thnks mn
ur hlpful

 

[hashim2]

can anyone explain the stock account to me? thanks in advance

 

[MustafaMotani]

http://www.xtremepapers.com/papers/CIE/Cambridge International O Level/Principles of Accounts (7110)/7110_s09_qp_2.pdf
1 a iii) why nil efect.. ??
Ammy scouserlfc
aur koi b bata do .. ??

 

[Zhamed]

goodluck fellows! Don't panic!

 

[scouserlfc]

http://www.xtremepapers.com/papers/CIE/Cambridge International O Level/Principles of Accounts (7110)/7110_s09_qp_2.pdf
1 a iii) why nil efect.. ??
Ammy scouserlfc
aur koi b bata do .. ??

Remember that u record returns outward in cost of goods sold in TPL so as u already recorded the purchase of the thing now u will minus the thing which will result in a zero cost of sale so nothing will now be minused from sales and no effect on net profit or gross profit assuming that all other things other than this remain constant

 

[MustafaMotani]

Remember that u record returns outward in cost of goods sold in TPL so as u already recorded the purchase of the thing now u will minus the thing which will result in a zero cost of sale so nothing will now be minused from sales and no effect on net profit or gross profit assuming that all other things other than this remain constant

well thats what i am sayong if we minus the purchases then gross profit shud increase :/

 

[hashim2]

can anyone explain the stock account to me? thanks in advance

kamidada

 

[MustafaMotani]

Anyone explain GOING CONCERN CONCEPT.. ??

 

[muzirox]

Anyone explain GOING CONCERN CONCEPT.. ??

A principle which assumes that business will continue to operate in the foreseeable future

 

[scouserlfc]

well thats what i am sayong if we minus the purchases then gross profit shud increase :/

U didnt get the idea but nevermind the paper is over now and sorry for not replying i wasnt feeling well last night so remained in the books and then slept early

 

[MustafaMotani]

U didnt get the idea but nevermind the paper is over now and sorry for not replying i wasnt feeling well last night so remained in the books and then slept early

LOL

 

[GlamourMiss]

Can anyone tell me if DEPARTMENTAL A/Cs are included in May/June 2013 syllabus???