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Study Tips for Preparing for Accountancy Exam

Study Tips for Accountancy Exam

STUDY TIPS FOR PREPARING ACCOUNTANCY EXAM

BOOKS

  • Study as per the syllabus prescribed by the CBSE from NCERT Books.
  • Remember that CBSE board exams are entirely based on the prescribed syllabus.
  • Extra Practice can be done from various reference books available in the market.
  • Some renowned reference books for class 12th Accountancy are are D.K.Goel, T.S.Grewal, P.C.Tulsian and V. Wason.
  • Students Must refer to Byju’s Commerce Books to achieve 100% marks target.

DEFINITIONS & MEANINGS

  • Definitions are to be understood properly along with the meaning.
  • You need to understand the logic and reasoning behind the concept.
  • To get full marks you need to memorize the definitions after understanding them so that you can write them in the exam properly.

 FEATURES, ADVANTAGES AND DISADVANTAGES

  • Students should focus on the Features, advantages and disadvantages of various topics as these questions are asked frequently in the exams.
  • Students should practice by writing them and not by understanding and memorizing only.

 FORMULAES

  • There are lot formulas which are applied in accountancy.
  • Students should NOT mug up those formulas and should understand how that formula is derived and what purpose it is made for.
  • Unless you have full understanding of the basis of the formulas you will not be able to solve questions properly.
  • Once you understand the formulas prepare a chapter wise formula sheet and revise them regularly.

 CALCULATION

  • While practicing, utmost care should be taken while making calculation and mistakes should be avoided.
  • This practice will help you in the exam and will save you from loss of marks due to tiny mistakes.

WORKING NOTES

  • Neat and clean working notes are also required as they become basis for the amounts calculated and to be put in Journals as well in accounts.
  • Working notes also carry marks in the exams.

 FORMATS

  • Students should pay utmost attention while making formats for journals, Ledgers and Balance sheets.
  • They should draw proper formats and also focus on writing narrations.
  • Lot of students complain after the exam that the exam was lengthy but most of the times they take too much time in making formats because they seldom practice drawing proper formats while they practice.
  • Thus doing this will help students to finish their paper on time.

RECORDING OF ENTRIES AND POSTING

While making ledger accounts always post all the entries in there respective accounts simultaneously rather than preparing the accounts individually.

If you follow this then there is no chance of missing any item in any account.

 NOTES

  • Make your own notes chapter wise.
  • Mark those concepts with RED colour which you find difficult to understand.
  • While solving questions you may get stuck at some typical point. Always note those typical points for later revision. It will help you later on in the exam.

REVISION

  • Proper Revision is the key for success in any exam.
  • Bring together all your notes, practice registers and formula sheets prepared by you which you made throughout the year.
  • Make revision plan. Allocate the time available between all the chapters and start solving those questions which you found difficult to solve while practicing.
  • Also revise those concepts which you found hard to understand and marked earlier.

PRACTICE FROM PAST YEARS’ PAPERS

  • Start solving past years’ examination papers keeping the time in mind.
  • Set your clock and check time taken while solving these papers so that you get exam type practice at home. This will help you managing your time during the examination.
  • This will help you finish your exam in the allotted time and paper will not look lengthy.
  • Make sure you make proper formats, working notes, Narrations and correct calculations.
  • You will gain a lot of confidence with this as you will be able to practice according to the pattern of questions, typology and methodology of how examiners set the question papers and what type of questions you will face.

SOLVE SOME SAMPLE PAPERS

  • Sample papers are of great help to judge your practice.
  • There are lot of sample papers available in the market from different publishers.
  • Do not forget to solve Byju’s Accountancy Sample papers for class 12th.