What is Accountancy
Before you jump on preparing for class 12 accountancy, it is essential to know what this subject is about. Accountancy is the measurement, processing, and communication of financial and non-financial information about economic entities such as businesses and corporations. It comes under commerce as it also deals with the income and expenses of the business. Download CBSE Class 12 Accountancy Sample Papers.
Accountancy subject is taught in the class 11th and 12th in all boards. It is probably the most challenging subject of the entire commerce because of the calculations. Here, you get to know about the best tips to prepare class 12 accountancy. It is mainly for the CBSE board, but you can adopt all these tips even if you belong to any other board cause most of them have the same pattern.
Best tips to prepare class 12 Accountancy
First of all, go through the basics of accountancy. If your fundamentals are strong, you will excel in this subject cause it is a numerical-based subject.
- The paper is divided into 2 parts that are theory and practical. Make sure you give a good time to both the parts cause the final marks are based on both of them. Also, practical knowledge helps you a lot in the future.
Here are some of the most important Accountancy topics that you need to focus on the most cause they care good marks and should be practiced repeatedly. Here they are-
- Accounting for Share Capital and Debentures
- Accounting for Partnership Firms
- Accounting for Not for Profit Organizations
- Accounting for Partnership firms
- Pay proper attention while making the formats for journals, ledgers, and balance sheets. While preparing the ledger accounts, students are supposed to post all the entries in their respective accounts simultaneously rather than preparing the individual accounts.
- As the accountancy is rich in calculations, make sure you practice lots of questions regularly. It is important to do it so that you take less time in exams in solving calculation-related questions. If you get a good command of calculations, you will score really well, as the calculations play a key role in accountancy.
- CBSE board does the step marking, which is one of the best things. If you cannot solve any question entirely, make sure you attempt the question to score the marks on the steps. You do not have to panic about your financial answer. Make sure your steps do not have errors, which will help you get the step marks. It is a great way to score well.
- Start making short notes or flashcards. Short notes or flashcards are essential and help recapitulate the definitions, formulas, and theorems. Make sure you have the short notes of the important topics, and you keep them to yourself before few days of your exams.
Other crucial tips-
- Keep revising what you have studied earlier. Make sure you revise it twice a week so that you have it in your mind.
- Refer to other study materials such as supplements and the internet. Sometimes, the NCERT or board Class 12 Commerce books do not help much, and this is where supplements can do a lot for you.
- Solve sample question papers and previous years’ question papers before the few days of your exams. If possible, then solve unsolved papers and mock tests with a timer so that you can assure how many questions you can do in a given period of time.
- Last but not least, focus on the concepts rather than mugging them up. If your basic concepts are clear, chances are higher that you will score well in your final exam.
- If you cannot study yourself, and you can not concentrate in class, or your teacher is not good, you can watch the free classes on many free platforms out there on the internet. There are many videos uploaded on Youtube by good educators on multiple topics, and if you search, you will definitely find the one you are looking for.
So this is all about how to prepare class 12 accountancy. All of these tips are tested, and they work. If you adopt all of these tips, you will see the best results. Accountancy is not easy but not very hard too. If you do the required things regularly and adequately, you will score well in your board exam. Join best online CBSE Class 12 Commerce Classes.
All of these tips are adaptable for all boards cause they are all quite similar. So if you are from ICSE, ISC, or State board, you can go for these tips.