Accountancy is a very important subject for students preparing for Chartered Accountants, etc. At the same time, many students find this subject tough while others find it easy. NCERT plays an important role when it comes to accountancy preparation. Questions given in NCERT are of great help as it helps the student to score good marks in the exam. Apart from preparing from NCERT, a student has to smartly follow some last-minute tips for the accountancy exam which has been described below:-
DEFINITIONS & MEANINGS:
- Definitions and meanings must be understood correctly.
- The logic and reasoning underlying the concept must be understood.
- To gain full marks, you must memorize the definitions after you have fully comprehended them so that you can correctly write them in the exam.
ADVANTAGES AND DISADVANTAGES
- Students should concentrate on the features, benefits, and drawbacks of many topics because these questions appear frequently in tests.
- Students should write them down instead of just knowing and memorizing them.
- There are numerous formulas used in accounting.
- Students should not memorize those formulas; instead, they should understand how they were created and why they were created.
- You won’t be able to solve problems adequately until you have a thorough comprehension of the foundations of the formulas.
- Prepare a chapter-by-chapter formula sheet and edit it on a regular basis once you’ve mastered the formulas.
NOTES FOR WORKING
- Working notes must be neat and clean because they serve as the foundation for the calculations and must be entered into journals and accounts.
- Exams include marks for working notes.
- When creating a journal, ledger, and balance sheet format, students should pay close attention.
- They should create suitable layouts and concentrate on developing narratives.
- Many students complain that the exam was too long after it is completed, yet most of the time they spend too much time creating formats since they rarely practice drawing good formats while practising.
- As a result, students will be able to finish their papers on time.
- When practising, extreme caution should be exercised when performing calculations, and mistakes should be avoided at all costs.
- This preparation will aid you in the exam and prevent you from losing marks due to little errors.
RECORDING AND POSTING OF ENTRIES
- When creating ledger accounts, rather than preparing the accounts individually, always publish all of the entries in their corresponding accounts at the same time.
- There’s no way you’ll miss anything in any account if you follow this.
- Make your own chapter-by-chapter notes.
- Mark with a RED pen any topics that you find difficult to grasp.
- While answering questions, you may become stuck at a common spot. Always keep a list of the common points in case you need to revise them later. It will come in handy later in the exam.
- The key to success in any exam is proper revision.
- Bring together all of your notes, practice registers, and formula sheets that you have created over the course of the year.
- Make a revision strategy. Divide your time across all of the chapters and begin answering the questions that you found hardest to answer while practising.
- Also, go over any ideas that you struggled with and marked before.
Class 11 Tips for Accountancy Exam Preparation
- While attending Articled Training, a student must prepare properly for examinations well in advance and dedicate at least two hours per day to academics.
- A student can consult a typical text/reference book whenever a topic or point is unclear.
- Students should consult the proposed answers to questions from the previous five/six examinations, as well as the Revision Test Papers. It is strongly advised that you solve the questions without consulting the solutions first, and then compare your answers to the solutions provided.
It is critical to go over all of the theories, rules, words, concepts, definitions, and explanations before beginning to answer the practical sums. Business Studies is a theoretical discipline that includes a variety of benefits, drawbacks, characteristics, definitions, and a few numerical examples here and there. For easy comprehension, read each one and make sticky notes or create your own keywords. So a student can perform well in this subject and give his/her attention to accountancy whereas, economics is another theory-based discipline that involves market and economic principles as well as graphical representations and statistics to aid comprehension.
Every subject has its own relevance and is distinct from the others; therefore, each subject requires equal attention, and there is no room for bias against any subject. Even if a subject is your favourite, it will not help you pass your exams on its own. So, remember the ten mantras listed above, as well as the topic suggestions listed above, and you’ll pass your commerce class 11 exam with flying colours!
We can conclude that proper strategy, proper revision, time schedule, etc are important to ace this subject. NCERT plays an important role because it provides good practice questions which help to perform well in exams. Apart from all these resources such Class 11 DK Goel Solutions Chapter 6 – Accounting Equations are of great help. Therefore, as seen above accountancy is a subject which requires both hard works as well as smart work and to score good marks in this exam.