Scoring good marks in accountancy in CBSE class 12 accountancy has always been a challenge for students as it is not introduced to them in middle school, unlike arts and science subjects. It is also one of the crucial subjects as students who opt for the commerce stream, typically aim for careers in chartered accountancy and finance after their class 12. Here are some tips that might help students achieve a high score.
Prepare a customised plan
This is the first-time students are attempting term-wise exams with a syllabus divided into two parts. However, the time to prepare for the upcoming exam is less what it appears as students have back-to-back practical exams and pre-boards amid holidays like Holi, Ramadan and Shivratri lined up in the coming months. Therefore, students must plan their study, practice, and revision time-table in advance and follow it diligently.
Break 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. Not-for-profit organisations.
2. Partnership – Retirement/death of a partner and dissolution of partnership.
3. Company accounts – Debentures and financial statement analysis – Common size and comparative statements and cash flow statement.
Students must allocate ample time to each part during their preparations and assess their ability and understanding of these parts at least twice a week till the exams.
Pay attention while writing numerals
Read the digits or numbers given in the questions carefully and pay attention while writing them in the answer sheets. Be wary of writing extra zeroes or skipping any as this can change the entire answer and your marks can get deducted. Try to write the amount in a definite sequence so that you are able to do the addition quickly if needed.
Write complete answers
Read the question at least twice before answering. Avoid writing something that is not asked or relevant to the question. It will only waste time and not fetch any marks.
Make sure to attempt all sub-sections of a question together. For example, it is a common mistake that students prepare accounts in dissolution questions while questions may need them to give journal entries only. In the cash flow statement, total cash flow from all activities should be equal to the difference between the closing and opening balance of cash and cash equivalents.
Proper presentation/format
Be particular about how you write the answer. It should always be incorrect format, Dr and Cr should be on the correct side of the ledger account and journal entries must have a narration part. Account heading should always be proper.
Check and double-check to ensure the quality of your answer
Always keep some time for revision in an examination. In the rush to complete the paper, students commit spelling mistakes, numerical mistakes, or leave the sub-part of a question unanswered and write the wrong format of account. Make sure to have some time on hand to revise and check these important things.
— Authored by Lalit Kumar Sharma teaches Accountancy at Vidyagyan Leadership Academy
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