How to prepare for class 11 Accountancy exam

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By Admin Desk

One can say that the pressure in class 11 is less as compared to class 12 for obvious reasons. There are no board examinations in class 11 but you can’t ignore the preparation of class 11. Whatever you want to do after class 12 starts the moment you reach class 11. Students often get comfortable with the marks they secure in class 10.

The major life decisions happen after class 10. Students who pursue Commerce are studying it for the first time more or less. Students from commerce backgrounds often find business studies, economics, and accounting as difficult. Just like Physics, Accounting also involves a fair share of mathematics. The general formula of scoring good marks and preparing for the examination is not different. Focus on the basics, understand the fundamentals, and practice. Here are a few detailed explanations as to how to prepare for Accountings:

Stick to your syllabus

The syllabus is planned and prescribed by the Central Board of Secondary Education from the NCERT books and these syllabi are the stepping stones for the board exams that will happen in class 12. Apart from your school book, reach out for reference books that can be found on the market or the internet. Use these reference books to practice more. One of the best reference books is Accounting Equations DK Goel Class 11 Solutions. Extra practice will make you familiarise yourself with questions of different difficulty levels. Practising questions with different difficulty levels will give you a good hold on the topics.

Understand the concept

While reading Accounting make sure you understand the definition of every important term with its meaning and application. Students should be thorough with the concepts and they must have an in-depth understanding of every concept. Once you understand the logic and reasoning of a concept, memorise it instantly. Make small notes of the definitions of the concept but try to write it down in your way so that you remember it for a long time.

Make Notes

Students should focus on the questions that are frequently asked in the exam and accordingly they should keep in mind the process in which they should be preparing. Always try to write down whatever you learn. Once you understand a concept, make a note about the same, writing after understanding helps in memorising concepts and theorems. Just understanding a concept doesn’t help a lot.

Remember the formulas

Students should not only remember all the formulas but they should also know to learn about the application of these formulas too. Just mugging up the formulas won’t help, if you don’t understand its application. Before remembering the formulas try to learn how they’re derived. Once you know the origin of a formula, solving any problem becomes 10 times easier. Once you learn the applications of the formula, revise them regularly. 

Avoid Silly mistakes

Accounting involves calculation and if a problem is solved recklessly then the chances of making a silly mistake are more. A student must take proper care while doing the calculation, minute mistakes can result in huge differences. Practice calculation while solving previous year question papers. More sample papers you solve, the more time you save in the exam. Make your calculations neat and clean, so that you don’t get confused while putting the values.

Solve Sample Papers

Sample papers are the best way to analyse your progress. Solve as many sample papers as you can. Solving sample papers will give you a better grip on solving questions effectively. You can grab some sample papers from the market or you can get them online too. Use the sample paper to test your speed and overall knowledge about the subject.

Previous Year Question Papers

No preparation is complete without solving the previous year question papers. Solving previous year question papers no doubt gives you an edge. Discussing the last 10 years question paper almost covers every important topic. If a student just prepares the previous year question papers there is a chance that a few questions might repeat also. Previous year question papers always give the students a heads-up on what to expect. Students also get an idea about the difficulty level and which chapter gets how much weightage. It also helps you to manage time too. Solve these papers and keep track of your progress.

Learn About the format

A student should learn about Balance sheets, ledgers and journals and they’re from formats. Accounting items must be drawn in proper formats. A student should practice drawing proper formats. Once a student masters the art of making proper formats, the time taken to finish the paper will decrease exponentially. A student should simultaneously post all the entries rather than doing it individually while making the ledger.

Analyse Your Progress

While making notes, highlight the important concepts. Make sure to revise all the concepts you find difficult twice. After you read a concept, try to solve multiple questions based on that concept. After you have successfully solved different questions, write down the concept and its application on the notes. If you face difficulty in solving these questions, mark them with a red pen. Things that you mark with your red pen need more attention while the things that you mark with the blue pen are important concepts but you don’t have any doubts about that particular lesson. Organising notes is important because it will help you to track your progress and will also tell you about the concepts that require more attention. 

Proper revision is the key to success for any examination. To master any exam, a student must revise properly. If a student revises a chapter more than two times then the chances of the student forgetting will be less. Everyone studies but the students that do well in the exam study systematically. A systematic and disciplined approach towards studying is what makes a student successful. Solve sample papers, avoid silly mistakes and remember the formulas. If you can follow these steps, you can master Accountancy preparation.