Make sure you practice problems every day. Being attentive in the class and getting your doubts clarified will help you in the long run to understand the concepts. Practicing multiple problems should be a habit so that you keep in touch with the concepts and they stay on your head for long. Remembering the formats for journal ledger and balance sheet should be done. Paying attention to little details can get you more marks.
Certain topics in Accountancy are deemed as most important and that will be sure shot questions as well. Here are some of the topics that one needs to focus on
- Share Capital Accounting
- Partnership Firms Accounting
- Not For Profit Organization Accounting
- Cash Flow Statements
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These are always focused on mainly. But remember that you will have to practice all the concepts to get a score above 90.
Sample papers provided by CBSE are also proven to be useful for practice. Make sure to solve a good number of those questions as well. Apart from calculations, understanding the theory and presenting it is also equally essential.
Any exam is easy to ace if you have a pattern of approaching the paper. Some of the basic tips to do well in an accountancy paper would be to attempt a minimum of 10 samples as practice papers from the subject. But making sure one chooses legit sources is also equally important. DK Goel Solutions Class 12 Accountancy is utilized by most students. The PDF can be found online for free, you can access it anytime.
Managing time for questions is also a crucial step. It should be made sure that mark question should be given 2 minutes utmost and the timing should be increased in multiples for 2 depending on the rise in the marks allotted for each question. All three mark questions should be given a time of only 6 minutes each, 4 marks questions will be given 8 minutes each, 6 mark questions will be given 12 minutes each and 8 mark questions will be given 16 minutes each.
With respect to the presentation of the paper, the student should make sure that they are vigil and clear with how they follow the pattern. Drawing the appropriate columns and titles. Neat presentation and clarity with solutions can also get you more marks.
Answering questions to the point is also essential. So every student is advised to read the questions carefully. Additional information only causes wastage of time. Overwriting and striking out written content can cost you marks. If at all there is a need, redo the whole problem rather than striking out answers.
Being an expert with calculation is something that a commerce student is supposed to maintain. Practicing problems and handling the calculator wisely can get him precise answers and more marks as well.
Attempt the question paper in order, so that the examiner is not confused. Highlighting the question number also helps the examiner’s correction easier. The faster the examiner is able to go through your paper the better it is for you. Leaving space between each question also adds to the neatness of the paper!
Showing the working and rough work on the sides can also add marks to your total. Keep rough work on a separate sheet so that it is clearly visible for the examiner. Writing calculations properly is also essential. This can buy you some step wise marks.
Use only a pencil for all formatting purposes. From drawing a ledger or balance sheet make sure you use only a pencil which helps you to correct any errors easily. Writing Cr. and Dr. in the right places is to be noted. Remember that the date INR symbol should be mentioned properly. Write the particulars and the amount as well.
For any balance sheet questions, the new format of the balance sheet is advised to be followed for share capital based questions. The new features of the balance sheet in the Common Size Income Statement, Comparative Balance Sheet, Comparative Income Statement and Common Size Balance. The new format should be strictly followed to avoid hassles during correction which might cost you marks.
If your balance sheet does not tally, be patient and try to figure out the difference between the two sides. Make sure that the effect of the transaction is properly done. HOTS questions should be answered with care but at the same time should be done without consuming much of your time.
Any accountancy paper will seem longer if you are not clear with the concepts and calculations. Remember to not always rely on your calculator. Stop using it from the beginning so that you don’t get used to it. Remember that you are not going to be allowed to use the calculator in the examination hall.
To follow a proper order in solving your questions, try solving 2 sample papers every week within the span of 3 hours. Take it as a self-evaluation process and analyse your own skill sets and where you need to improve.
Which part should be attempted first is a big question that all Accountancy students come across. It is preferred that you work on Part B first so that you can finish it off in about half an hour. The Cash Flow statement is advised to be solved next. So that you can secure your 20 marks in that as well. Make sure you hone your arithmetic skills and [pay attention to Company Accounts as well.
Lastly, remember that writing an exam is meant to enhance your ability and test it. SO do not fret right before the exam and cream additional information into your head at the last minute. Do not go for last-minute learning, make sure you’re thorough with whatever you learnt up until before