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HOW TO STUDY FOR ACCOUNTANCY FOR CLASS 11

While attending Articled Training, a student is obliged to fully study for tests well in advance and to spend at least two hours every day studying. A minimum of 14 to 16 hours of hard labor is necessary throughout the vacation period. Avoid using cell phones, the internet, and television as much as possible. Students must study the study materials and practice using the practice manual. When a student is unsure about a specific topic or issue, he or she can consult a standard text/reference book. Students should refer to suggested responses to questions set in the previous five/six examinations as well as Revision Test Papers. It is strongly advised to solve the problems first without consulting the solutions and then compare the results to the solutions provided. Such an approach would aid in determining the source of error and the presenting pattern of response. Section and its provision must be provided accurately in legal documents. If a pupil is unsure about the Section number, he should not cite it.

BOOKS TO REFER

  • Use NCERT Books to study according to the CBSE syllabus.
  • Keep in mind that CBSE board examinations are completely focused on the approved syllabus.
  • Additional practise can be obtained from a variety of reference books available on the market.
  • Some well-known accounting reference books for class 12th are D.K.Goel, T.S.Grewal, P.C.Tulsian, and V. Wason.

DEFINITIONS & MEANINGS

  • Definitions, as well as meaning, must be well understood.
  • You must comprehend the rationale and reasoning behind the notion.
  • To gain full points, you must memorize the definitions after learning them so that you can write them correctly in the test.

FEATURES, ADVANTAGES, AND DISADVANTAGES

  • Students should concentrate on the features, benefits, and drawbacks of many topics because these questions appear frequently in tests.
  • Students should practice writing them rather than just knowing and remembering them.

HOW TO STUDY FORMULAS

  • There are several formulae used in accounting.
  • Students should not memorize such formulae, but rather comprehend how they are derived and what function they serve.
  • You will be unable to solve problems correctly unless you have a thorough knowledge of the foundations of the formulae.
  • Once you’ve mastered the formulae, create a chapter-by-chapter formula sheet and review it on a regular basis.

CALCULATION

  • When exercising, extreme caution should be exercised when performing calculations, and errors should be avoided.
  • This practice will aid you in the exam and avoid you from losing marks due to little errors.

 NOTES

  • Neat and tidy working notes are also necessary since they serve as the foundation for the amounts computed and must be entered into journals as well as accounts.
  • Working notes are also worth points in examinations.

 FORMATS

  • When creating forms for diaries, ledgers, and balance sheets, students should pay close attention.
  • They should design correct forms as well as concentrate on creating narrations.
  • Many students complain after the test that it was too long, but most of the time they take too long in producing forms since they rarely practice drawing correct formats while practicing.
  • As a result, students will be able to complete their papers on time.

RECORDING ALL YOUR ENTRIES

  • When creating ledger accounts, always publish all of the entries in their appropriate accounts at the same time rather than preparing the accounts separately.
  • If you do this, there is no way you will miss anything in any account.

REVISION

  • Proper revision is essential for exam success.
  • Gather all of your notes, practice registers, and formula sheets that you created over the year.
  • Create a revision strategy. Allocate the time allowed between each chapter and begin answering the questions that you found difficult to answer when training.
  • Also, go over any ideas that you struggled with and noted previously.

PRACTICE PREVIOUS YEARS’ PAPERS

  • Begin answering previous years’ test papers while keeping the time in mind.
  • Set a timer and keep track of how long it takes you to complete these assignments so you can practice for exams at home. This will assist you in managing your time throughout the exam.
  • You will be able to complete the test in the given time, and your paper will not appear to be too long as a result.
  • Ensure that suitable forms, working notes, Narrations, and computations are used.
  • You will get a lot of confidence from this since you will be able to practice according to the question pattern, typology, and technique of how examiners set the question papers and what sort of questions you will confront.

SOLVE SAMPLE PAPERS

  • Sample papers may be quite useful in evaluating your practice.
  • There are several example papers accessible on the market from various publishers.

BEST TIPS TO PASS THE ACCOUNTANCY EXAM WITH GOOD SCORES

  1. Before responding, read the question at least twice.
  2. Highlight the key aspects of the question that will be beneficial in answering it.
  3. Try to complete the financial statement analysis at the conclusion of all problems, since it requires a lot of computation.
  4. In the event of questions about shares, if the shareholder’s applied shares are supplied, the candidates can simply clip the applied shares from the question paper after discovering the allotted shares, so that they can consider just the allowed shares while answering the questions.
  5. When establishing a cash book in shares, attempt to pass through all bank entries in rough so that there is no mistake.
  6. When preparing the profit and loss appropriation account, the profit should always come first. Furthermore, the applicants should be aware of the capital balances of their partners; it should complete the whole 12 months, otherwise, monthly consideration will be available for any appropriation.
  7. If candidates are unable to answer a question, they should continue on to the next question and return to the previous one later.
  8. When it comes to debenture redemption, applicants should always strive to figure out which form of redemption is specified in the question.
  9. When modifying time, always leave some time for review.
  10. Do not leave any questions unanswered.
  11. Begin by answering the ones you are most familiar with.
  12. At the conclusion, attempt ‘HOTS’ questions. Read the summaries at the conclusion of each chapter to obtain a complete picture of the chapter.
  13. HOTS may also be derived from summaries.
  14. Consult the most recent CBSE sample question papers, as well as past year board question papers.
  15. Refer to online books like DK Goel Solutions for Class 11 Accountancy Chapter 11. If you search for solutions to chapters like “DK Goel Solutions for Class 11 Accountancy Chapter 11”, you can easily practice problems. 

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