Exam Tips: Clarity of concepts will sail you through, says accountancy teacher Rekha Garg

Accountancy is a demanding subject, which requires rigorous practice and clarity of concepts. Students often panic and go for last minute preparations. Accountancy teacher Rakhi Garg explains how students can score well while staying calm during the examination.

Tips to score well

Students should study the theoretical sections properly so that scoring becomes easy in multiple choice questions, fill in the blanks, true or false section. True or false section should always be supported with reason.

Accountancy paper is time consuming and most students struggle in completing the paper due to lack of time management. This year, CBSE has changed the pattern of question paper by increasing number of choices, adding multiple choice questions. This means students must be well-versed with every line of NCERT book.

Students’ common mistakes

* Not giving proper heading to solution

* Adding excess zeros to figures

* Showing working notes when not required

* Wasting time in 1 marker questions

Important chapters

1. Issue and forfeiture of shares

2. Cash flow statement

3. Financial statement of companies

4. Journal entries in dissolution of partnership firms

5. Introduction to partnership firm

6. Death of a partner

7. Not for profit organisation

8. Admission of a partner

Tips on mistakes, exam

• Students should solve latest sample paper provided by the Board, unsolved papers, previous years’ papers, board examination papers, which give them idea about level of questions and understanding different types language used in questions. Students generally get confused in language and commits mistake.

• Students should wisely use their 15 minutes of reading time. They should go through all the choice question and decide which question they are going to attempt and shouldn’t waste time in reading 1 mark question because any how they will read these questions once again while attempting them.

• Students should underline figures given in question of shares and debentures and be extra alert whether number of shares or debentures is mentioned in question or total value of shares and debentures is given.

• Students should attempt 1 marker questions at the end and be specific.

• Students should attempt all the questions and shouldn’t waste time in lengthy calculations.