(c) Concepts and Questions
Strengthening the concepts and practising new questions, certainly both of them are very important and in a way intermingling too. But while preparing for the exam (especially as exams come closer), on the one hand where it is essential to maintain a balance between the two, on the other, it should also be ensured that strong concepts would carry a relatively higher significance than practising NEW questions at this moment. (Caution: This in no way means that one can ace with bare conceptual understanding. Practising new questions is undoubtedly important, as was reflected in the 2017 Board Exam).
This is clearly because once you are thorough with the conceptual understanding, you can attempt almost any question (provided you have enough written practice of questions, thus this part cannot be ignored).
Reiterating, one must have enough written practice of attempting questions of all types from the various concepts. Elaborating on the same, it becomes imperative that one does not keep oneself restricted to the questions which have appeared in the past year papers, but also try out on new questions, since CBSE does give unexpected questions.
For instance, the 2017 Accountancy Paper (Delhi) had questions like – Capital Adjustment from Change in PSR (such a question was never seen by me anywhere before the paper). In 2015 or 2016, there was a question asking to prepare ledgers for certain accounts from the unit – Issue and Redemption of Debentures.
Further, kindly do not miss out on Journal Entries. Practice Journal entries for any and every concept from where they are applicable (and not just from the ones which have appeared in the previous year papers frequently) Once you have had an experience of attempting a particular type of question, it certainly helps in saving your time during the exam since you do not waste time pondering on irrelevant points.
Written Practice is Indispensable for Accountancy
(d) Few More Subject Specific Tips
It has been observed over the years that Partnership usually gets more twisted questions, since there is relatively much more scope to bring in small tricks and twists while framing the questions in Partnership, keeping in mind the Marking Scheme. (i.e.- twisted questions can be framed easily even for 1 and 3 markers). Next in the order is Company Accounting, followed by Analysis of Financial Statements. Thus, it is advisable to prepare accordingly for unseen and twisted questions.
Theory is another important aspect of the paper. Though it is not advisable to spend a lot of time on the same, at the cost of practical questions, yet it is imperative to crack these to assure another 8-12 marks. CBSE tends to follow the norm of giving at least one hard to crack question based on theory every year. Thus, if you are planning to score above 95-96, thorough reading and understanding of the text is required for theoretical questions. Leave no stone unturned.
It is important to present the answers well in the exam, which shall be covered under Attempting Tips, in the upcoming articles.
Finally, improve your mental math, again through practice and by not using calculators while practising questions or attempting mocks. This helps in saving time which you would otherwise waste in calculations. (This time could instead be devoted on pondering on the tough questions and/or attempting the unseen and twisted questions more carefully, less hurriedly to avoid silly errors and/or on revising your paper, which is again indispensable)
More Articles on Accountancy coming up people, so stay tuned!
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