Accountancy is considered as the key subject in the commerce stream. With right planning, we can easily score around 95% marks in the subject. Some important tips that you should be following; start right from today.
Think big: Dream about the percentage you want to score. Write it down on a piece of paper and stick it in your room or at a place where you can see it every day.
Accounts day: Plan at least three to four hours of study for accounts per day, for five days in a week (for non-mathematics students it should be around five hours). Reserve one day for accounts subject only. This day will be your revision and test day. Revise all concepts learnt in the week and then test yourself on the related topics. Prepare a list of mistakes you are making in a separate copy.
Power of tables: Most of the students can easily score around 75% marks. Crossing the 90% barrier seems impossible to them because they fail to utilise the power of tables. Make a habit of writing tables from 12 to 19 daily for the remaining 100 days. Tables will speed up your calculations and you will be able to complete the paper easily.
Do not neglect theory: Master the concepts of theory along with the chapters as you can obtain around 10 theory marks by devoting just 10 minutes. In accounts, five most important chapters are: fundamentals, admission of partner, share capital, ratio analysis and cash flow statements.
Devote the first 35 days (one week on each chapter) on these and master each and every ­concept. Soon after finishing the chapter, start testing yourself by doing chapter test and ­assignments. While doing the chapter test and assignments, maintain a log of questions in which you were unable to score full marks. Repeat these questions until you are confident of the concepts related to those questions.
Remaining 65 days: All the remaining chapters revolve around these five chapters. Focus more on dissolution of partnership, purchase of debentures in the open market, goodwill and balance sheet of a company as per the new format.
45 more days to go: You should collect the pre-board papers from your friends studying in different schools. Solve around five papers in 15 days. This will help you in revising the whole course. Try to write the paper as per boards timing.
(The author is HOD-accountancy, Studymate and can be reached at firstname.lastname@example.org )