CBSE class 12 accountancy exam on March 5 (Express Photo by Gajendra Yadav. / Representational image)
— Written by Chandan Poddar
CBSE class 12 accountancy: Solving lengthy questions in the given time-frame, that too with introduction of a new pattern, can make obtaining good marks hard in the class 12 accountancy exam. This year, students will have to answer 20 questions of one mark each, including multiple-choice questions, fill in the blanks, theory and practical. Additionally, there will be two questions of three marks, five questions of four marks and three questions of six marks and two questions of eight marks each.
On analysing the latest CBSE sample paper issued by CBSE, it is clear that approximately 20 per cent of the entire question paper would be analytical, while the remaining 80 per cent will be concept-based. In such a scenario, one can follow these steps to obtain a high score.
Avoid common errors
— Practicing questions of higher difficulty level is the most common problem among class 12 students which results in declining confidence. Keep your focus on past examination questions and model test papers issued by CBSE.
— Avoiding writing practice. Mostly, students read the answers of questions instead of practicing in writing; as a result, they are not able to complete the paper on time.
— Proper formats are a must to score full marks. If your formats are not proper, narrations and working notes are missing, you are going to lose up to 30 per cent marks in each question.
Frequently asked topics in past exams
1. Heads and subheads of Schedule III Balance sheet
2. Turnover and liquidity ratios
3. Indirect method of preparing cash flow statement
4. Preparation of Income and Expenditure Account
5. Revaluation Account, Partners capital account and balance sheet in Admission of
partnership
6. Journal entries related to issue of debentures
7. Forfeiture and re-issue of shares
Last date preparation hacks
Divide your syllabus into two parts: The first part should include the following chapters — cash flow statement, issue of debentures, dissolution of the firm, fundamentals of partnership, goodwill valuation, ratio analysis, financial statements, tools of financial statements and accounting ratios. These are less time-consuming chapters and cover approximately 50 per cent of the paper.
Once you are confident in the above mentioned seven chapters, prepare the balance chapters in the following order — issue of shares, not-for-profit organisations, admission of partner, retirement and death of a partner, change in profit sharing ratio and redemption of debentures.
Focus on past examination questions: Not every topic demands equal energy. You should analyse the topics that were frequently asked in the past examinations. For example, in the cash flow statement, Only three adjustments related to fixed asset and depreciation, interest on loans/debentures and tax has been asked in the last 10 past examinations. Apart from this, no other adjustment has been asked, and you keep on investing your energy on multiple topics.
Solve model test papers: Once you are prepared with the first part as discussed above (including nine chapters) start solving model test papers based on the latest CBSE marking scheme. While solving the sample papers, keep preparing the balance chapters such that in every sample paper, you should be able to attempt at least 10 percent more paper than the previous one.
— The author is founder, Grooming Education Academy