Getting good grades for accountancy in CBSE class 12 accountancy has always been a challenge for students as it is not introduced to them in high school unlike art and science subjects. It is also one of the crucial subjects as students who choose the trade stream typically pursue careers in accounting and finance after age 12. Here are some tips that can help students achieve high scores.
Make a tailor-made plan
This is the first time students attempt exams with a syllabus divided into two parts. However, the time to prepare for the upcoming exam is less than it seems as students have consecutive practical exams and pre-boards in the coming months during holidays like Holi, Ramadan and Shivratri. Therefore, students should plan their study, practice and revision schedule in advance and follow it closely.
Divide the syllabus into smaller parts
It is best to break the syllabus into smaller parts. For example, the term-2 syllabus can be divided into the following three parts:
1. Non-Profit Organizations.
2. Partnership – Retirement/death of a partner and dissolution of the partnership.
3. Company Accounts – Bond and Financial Statement Analysis – Common Size and Comparative Statements and Cash Flow Statement.
Students should allow ample time for each component during their preparation and assess their ability and understanding of these components at least twice a week until the exams.
Be careful when writing numbers
Carefully read the numbers or numbers in the questions and pay close attention as you write them on the answer sheets. Be careful with writing extra zeros or skipping zeros, as this can change the entire answer and deduct your points. Try to write the amount in a specific order so that you can add up quickly if necessary.
Write complete answers
Read the question at least twice before answering. Avoid writing anything that isn’t asked or is relevant to the question. It will only waste time and not bring you any points.
Make sure to try all the subsections of a question together. For example, it’s a common mistake for students to prepare accounts in decomposition questions, when questions may require them to give only journal entries. In the cash flow statement, the total cash flow from all activities should be equal to the difference between the closing and opening balances of cash and cash equivalents.
Be specific about how you write the answer. It must always be in an incorrect format, Dr and Cr must be on the correct side of the ledger account and journal entries must have a story section. Account title must always be correct.
Please check and double check to ensure the quality of your answer
Always leave some time for revision during an exam. In the rush to finish the paper, students make spelling or numerical errors, or leave the subsection of a question unanswered and write the wrong bill format. Make sure you have some time on hand to review and check these important things.
— Written by Lalit Kumar Sharma teaches Accountancy at Vidyagyan Leadership Academy
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