How to prepare for CBSE Class 12th Accountancy exam ?
- Posted by admin
- Categories Uncategorized
- Date December 21, 2019
CBSE Class 12th Accountancy exam is getting closer and its time to start studying! Accountancy, also known as the language of finance, is one of the foundations of business. All businesses require accountancy to function smoothly. To understand this important pillar of finance, Accountancy is a necessary part of the Commerce stream
TIPS and Tricks
- Accounts is a subject that builds on previous knowledge so it’s necessary to study throughout the year instead of attempting to mug up everything at the very last minute.
- Create notes of points you feel are important and are likely to forget and revise frequently.
- Study from flash cards to remember various terms. Important terms include: fixed assets, current assets, liquid assets, current liabilities, fictitious assets, depreciation, capital and revenue receipts/payments, reserves, provisions, accumulated profits and losses, capital employed, working capital etc.
- Practice and be familiar with application of rules of debit and credit with both modern and traditional approach
- Practice the basics such as ledger posting and debit and credit balances.
- Become familiar with different formats of balance sheets
- Practice writing answers for numericals even if you can answer the question mentally
- Always use proper labels as required (e.g. name of the ledger account, journal or statements)
- Show working notes when you write your answers but keep rough work in a separate column.
- If you are not completely sure of an answer but know a part of it then attempt the question (without wasting too much time) as there is no negative marking and you may get some marks for correctly attempting.
- Solve previous year papers/ sample papers to get familiar with the questioning pattern and to be able to identify your weak points.
- Increase your speed in answering questions.
- Use the last 2 months before the exam for only revisions and solving papers.
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