Accountancy is one of the biggest nightmares for a commerce student, as the subject requires a very high dedication, multiple revisions and rigorous practice. One needs to be very proficient in understanding the concepts and calculation. It lays emphasis on basic accounting principles and analytical skills. Since the nature of the subject highly resembles mathematics in terms of heavy calculations, adjustments, and methods, the student needs to keep practicing and revising regularly without break in order to prepare for accountancy in class 12th.
Here are a few tips for your CBSE class 12th Accountancy preparation.
- Understand the theory first
Although accountancy deals majorly with calculations and application, theory also holds a big role in forming the base for practical questions and gaining direct marks when asked for features, difference, merits and demerits.
- Always start by reading out and understanding the theory of a particular chapter very thoroughly before jumping into practical questions. This will expand your knowledge base for solving difficult questions.
- Look out for the following types of theory questions in class 12th accountancy-
- Distinguish between ‘Dissolution of Partnership’ and ‘Dissolution of Partnership Firm’ based on: (i) Settlement of assets and liabilities (ii) Economic relationship
- State whether the following transactions will result in inflow, outflow or no flow of cash while preparing cash flow statement: (i) Decrease in outstanding employees benefits by ₹3000 (ii) Increase in Current Investment by ₹ 6,000.
These questions require your command on accountancy theory.
- 2. Practice Questions
No doubt, Accountancy requires a LOT of practice if you wish to excel in it. The next step after reading the theory of a particular chapter is indeed, practicing the practical questions as these are finally going to get you majority of your marks. You need to practice questions regularly in order to retain the concepts and formats in mind.
- Start solving questions as soon as possible after reading the theory of the chapter. This will help you to easily apply the concepts to solve questions.
- You need to excel in quick calculations to solve the questions correctly. Solve questions until they increase your calculation speed.
- You can use the test papers available on RKG Institute’s website –
- Do not forget to check and solve the previous year questions from a particular chapter.
- 3. Pay attention to formats
Don’t forget to make appropriate formats according to the question. Pay special attention while making formats for journals, ledgers, balance sheets and other accounting items.
Practicing formats is also one of the major factors which helps to complete your question paper faster. It is advised to keep practicing all the formats regularly.
- 4. Identify Scoring topics
Topics like accounting for partnership firms, share capital and debenture, not for profit organisations etc. are considered as important and scoring in class 12th accountancy. Try to prepare these with perfection.
Students are also advised to have a very good command over the definitions and other things that need to be remembered. Make a separate notebook for such things and revise them multiple times by writing. This will ensure that you don’t lose small easy to score chunks of marks.
- 5. Follow correct book and study material
It is very important to follow the correct study material to ensure that your class 12 accountancy preparation goes very well. CBSE has prescribed the following books for accountancy class 12th –
- Accountancy -I Class XII NCERT Publication
- Accountancy -II Class XII NCERT Publication
- Accountancy – Computerised Accounting System Class XII NCERT Publication
Apart from the above books, the books of the following authors are widely used and considered best for class 12th accountancy-
- T.S. Grewal
- D.K. Goel
For sample question papers and question bank, Oswaal publications and Arihant Publications are considered the best.
You can also access the complete playlist of YouTube lectures of class 12th accountancy by CA Parag Gupta. Visit the following link-
Complete Syllabus of class 12th ACCOUNTS
The link to RKG Institute’s course on class 12th accountancy for session 2022-23 is attached below:
