Accountancy, being one of the crucial subjects for commerce students, draws in more attention and it is every student’s goal to score a centum in it. Unlike the language papers, the accountancy exam gives the student the provision to score a centum if he/she gets the concepts right. The question that pops up into every student’s mind is, how to score a centum in the class 12 accountancy in the CBSE board. Now, it is common knowledge that there are 32 questions to cover if one wants to get a full 100 percent in accountancy in NCERT Books for Class 12 Accountancy. We will go over some tips and tricks in this article that are crucial to crack the accountancy exam.
Theory Questions:-
The theory questions in the accountancy section are tricky and this is the area in which a lot of students are unclear as to how much is okay for the answer. Oftentimes, writing a great deal of text for a simple answer has become the norm in the accountancy exam. This leads to a lot of wastage in time and ultimately results in finding little time at the end of the exam for completion of the exam, where the handwriting and the clarity in the final answers go for a toss. It is imperative to answer precisely for all the answers in the theory section to save a lot of time and also to keep the answers crisp. Do not go for unwanted and elaborate examples and do not add additional notes in places where it is not requested for.
Use your pencils wisely:-
For accountancy, the teachers who correct the answer sheets must always look around and pause a lot while taking into account the ledger and balance sheets the student has constructed. Mostly in accountancy, teachers are burdened by this task and always dread the moment they have to correct an answer that has the tables to it. Now, there is a great opportunity on the student’s side to take advantage of this problem. The student can present his ledger work in a fairly neat and straightforward manner and beat the other students in this section by using the space efficiently. The moment the answer is arrived at by the person going through the student’s answer sheet, he/she should feel that it is to the point and readable, and legible.
Partnerships hold a chunk:-
Of all the sub-topics that we have in the accountancy subject, the partnerships topic holds a good 30 marks to its credit. One should understand that the questions about the partnership topic could get complex and that one needs to have all the concepts relating to partnerships down, for example, the admission, retirement, and the removal of a partner in case of the demise or exit of a partner.
Financial Statement Analysis:-
This is one section in the exam which could be covered well within a half-hour and concerning the specifics of what should be worked on in the preparation side for this section, Cash Flow Statements. This is the only toughest sub-topic in this section and there are a lot of weird fish questions that can be zeroed in during preparation and could be nailed during the examination. Easily one can add 20 marks to their centum kitty if this topic is aced during preparation.
Company Accounts:-
Well, this might seem like a simple topic and a fairly easy one at that, but this amounts to a solid 20 marks. One can scoop the entire 20 marks out if the questions relating to shares and debentures could be aced during preparation.
Calculation Wizardry:-
Now, having really good calculation skills will save a lot of time for you in the exams, but there are a million types of calculations that you can make, but here we suggest that you ace the ones that are particularly used in the accountancy exam. Vedic maths could come in handy for you to do your BODMAS and sometimes you are good with the normal calculation as you do not want to complicate things unnecessarily. Without an accurate command over the calculation and arithmetic skills, it is next to impossible to keep up the time in coming up with the answers as your fellow first ranker is sprinting to an awesome finish, you might be left hanging in some multiplication calculation on the rough sheet. Now, this brings us to the next crucial section of the article.
Time Management and Mock Tests:-
The time management and the mock tests are interdependent. You do more mocks, you ace time management. You only do sums and theory, you are left to handle time management at the last minute at the exam hall and that is not good and that is not going to score you a 100% for sure. Always have the last month for your mocks and this is a thumb rule, but always try to finish a few chapters and take a combined mock for all the chapters for you to have the logistical capability to carry the tough questions to the start and the easier ones to the end. Easy ones can give you speed on the test and can therefore take you less time to finish. This way, when you take mock exams like time and again, you will gain the confidence to time your exams carefully.
Study Materials:-
This would have been suggested by your school already but, just to leave it, here again, T.S. Grewal and D.K. Goel.
Conclusion:-
Work hard and try to comprehend the lessons given out in class and always stay sharp and focussed during the exam while keeping your cool. Work on your presentation in the mock tests so that your answers are legible and comprehensible. Always be enthusiastic in solving your problems and precisely giving out theory answers. All the more important, read the question twice, quickly but with full attention so that you give the right answer. All the best.
