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ZIMSEC O-Level Principles of Accounting

20Company Accounts

Company Accounts in ZIMSEC O-Level Principles of Accounting: what the syllabus expects you to know, the learning objectives and how to practise.
Topic40 practice questions2 lessons

Overview

Form 4: terms (shares, debentures, share capital, shareholders' funds, dividends, reserves, retained profits), statements of changes in equity and statements of financial position (extracts).

Learning objectives

What the syllabus expects you to be able to do.

  1. 20.1Form 4: define company accounting terms, outline the capital structure of a company and state the advantages of forming a company.
  2. 20.2Form 4: prepare statements of changes in equity and statements of financial position (capital structure extracts).

Lessons

  • Financial statements of limited companies

    45 min

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  • Limited companies: share capital and loan capital

    35 min

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Sample question

A sample question on this topic. Answer it, check it, then read the worked answer.

Company Accounts: sample question

1 mark

The directors transfer US$20,000 from retained earnings to the general reserve. What is the effect on total equity?

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