CBSE Class 12th Accountancy Tips
The subject of Accountancy is the basis of business. All sort of businesses necessitate accountancy to work efficiently. It is also known as the language of finance. Accountancy is an essential part of the Commerce. The exam of Accountancy of CBSE Class 12th is about to come, students must start its preparation. There will be 3 parts in the paper of Accountancy. You are supposed to attempt two parts. The A Part will be of: Accounting for Partnership Firms and Companies.
It will include:
- Accounting for Partnership Firms – Fundamentals (10 marks).
- Accounting for Partnership Firms – Reconstitution and Dissolution (25 marks).
- Accounting for Share Capital (18 marks).
- Accounting for Debentures (7 marks).
And the B Part will be of: Financial Statement Analysis. It will include the following:
- Analysis of Financial Statements (12 marks).
- Cash Flow Statement (8 marks).
- Project work (20 marks).
Or the students may attempt the C Part. C Part will be of: Computerized Accounting. It will include:
1) Overview of Computerized Accounting System (4 marks).
2) Accounting Applications of Electronic Spreadsheet (6 marks).
3) Using Computerized Accounting System (4 marks).
4) Data Base Management System (6 marks).
And the Practical Work (20 marks).
The following are some tips and tricks for the CBSE Class 12 for accounting paper:
- Accounting is a subject that requires thorough study, so students must study throughout the academic year rather than going through the important topics at the end.
- Students should make notes of the important topics and points, if it seems that they will forget them.
- Students should make choice between Part B and Part C very carefully and according to their interest.
- Students have to know the application of rules of debit and credit in modern and traditional way.
- Practice of ledger posting and balances of debit and credit.
- Make know how of various formats of balance sheets.
- Make sure you practice the numerical questions even if you can solve them mentally.
- Label the ledger accounts, journal and statements properly.
- In attempting the question, if you are not sure about any of its part, don’t waste your time and attempt that question because there is no negative marking and your correct choice of question make chances of extra marks.
- Time management is very important so increase your speed in attempting questions.
It is necessary for the students be updated with the changes have been made in the paper style. Revise the question paper style and discuss it if you have any query.