ZIMSEC O-Level Principles of Accounting
10.1Accruals and prepayments
Accruals and prepayments in ZIMSEC O-Level Principles of Accounting: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic35 practice questions2 lessons
Overview
Form 2: for income and expenses in the financial statements only (ledger accounts not required). Form 3: ledger accounts of income and expenses.
Learning objectives
What the syllabus expects you to be able to do.
- 10.1.1Form 2: define accruals and prepayments and show the adjustments in end-of-year financial statements.
- 10.1.2Form 3: prepare ledger accounts for income and expenses with accruals and prepayments.
Lessons
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Accrued and prepaid expenses
35 min
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Accrued and prepaid income
30 min
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Sample question
A sample question on this topic. Answer it, check it, then read the worked answer.
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