The five habits that separate a 95+ Accountancy paper from an 80: working notes, formats, presentation, theory and timed practice.
Most students who lose marks in Accountancy do not lose them because they do not know the chapter. They lose them in working notes that are missing, formats that are half-remembered and answers that are hard for an examiner to follow. The good news: all of this can be trained.
1. Learn the concept before the format
Partnership and Company Accounts look like a list of formats, but every format answers a question. Why is the Profit and Loss Appropriation Account prepared after the Profit and Loss Account? Why is the sacrificing ratio used on admission and the gaining ratio on retirement? When you know the "why", you can solve a question you have never seen before.
2. Always show working notes
Examiners give step marks. A wrong final figure with a clear working note often earns more than a correct figure with no working. Number your working notes, give each a heading ("WN 2: Calculation of new profit-sharing ratio") and refer to them in the main answer.
3. Practise presentation, not just answers
- Rule your ledger accounts neatly with Dr. and Cr. sides.
- Write narrations for journal entries.
- Total both sides and draw the double line under totals.
- In the Balance Sheet of a company, use the Schedule III headings and the notes to accounts.
4. Do not skip theory
The theory questions are some of the easiest marks in the paper, and many students give them up. Prepare short, exact answers for the meaning of goodwill, the rights of partners, kinds of shares and debentures, the objectives and limitations of analysis, and the classification of activities in a Cash Flow Statement.
5. Write full papers against the clock
A three-hour paper is a stamina test. In the last two months, write complete papers in three hours, then check them honestly against the marking scheme. At RD Classes this is what the full-syllabus test series of 10 tests is for.
Students who score 90+ in Accountancy receive gifts from Ronak Sir, and a perfect 100 earns ₹5,100. Start with a free demo class.
Learn this with Ronak Sir
RD Classes teaches CBSE Accountancy in Sector 9, Faridabad and online. Book a free demo class or see the courses.