One of the most difficult assignments to do is accounting for class 12. This is because accounting for class 12 is closely linked to the application of knowledge. Students must not only have a strong foundation but also understand the subject’s deep details.
Accountancy or accounting is the act of analyzing financial data from individuals, HUFs, corporations, partnership firms, and other organizations to arrive at a predetermined result that aids in the formulation of future economic choices. A professional accountant also referred to as a CA, is normally in charge of certifying financial records (Chartered Accountant).
The vast majority of class 12 pupils would respond that getting a decent grade in the subject is important. That is entirely accurate. However, if you look at things from a different angle, you’ll see the following.
The following are some of the benefits of studying accounting for class 12:
- Boost your chances of being accepted into a top school that will broaden your horizons and knowledge.
- Maintain a firm foundation by broadening your skills and competence.
- Gain more self-assurance.
- You’ll learn how to easily grasp sophisticated accounting topics.
- Allow you to develop your skills as a dynamic accountant in the future.
- Prepare you for any upcoming accounting examinations.
- Due to the growing need for accountants, we can help you acquire a position with some of the greatest financial consulting firms.
- Assist you in completing the CPT (Common Proficiency Test)
- Assist you in advancing your career as a certified accountant.
Best time to start planning
Accountancy is a business discipline that resembles mathematics in many ways. It contains a lot of set rules, established processes, complex computations, and a lot of tweaking. Even when using a calculator, errors are possible. As a result, it is critical to cultivating an alert state of mind for three hours.
For the first couple of months of the academic year, accountancy necessitates constant, if not daily, preparations. When the board examinations are nine to ten months out, you must begin intensive daily preparation.
What should you do in class 12 to prepare for accounting?
Every chapter in the book of accountancy includes both academic and practical themes. While studying for accountancy in class 12, there are six specific stages to follow.
Step 1: Before going on to more complicated modifications, it’s important to understand the ideas in the chapter’s definitions, meanings, conceptual explanations, applications, and examples.
Step 2: Solve accounting issues — now that you’ve covered the basics of the chapter, you may go on to solving easy to intermediate accounting difficulties. Terms and ideas from the theoretical elaborations of the chapter will be used in these accounting issues.
Step 3: Practice computerized accounting — Practicing accounting using a spreadsheet, a database management system, or even a program like Tally will help you remember what you’ve learned and improved your comprehension of how to handle particular accounting modifications.
Step 4: Work on questions after each chapter — after the third step, you should have a good understanding of the chapter’s themes. The optimum time to work on the questions, problems, and modifications included after each chapter of the textbook is now. This will not only ensure that you are thoroughly prepared for the test, but it will also show you how to answer a different kind of question.
Step 5: Examine previous year’s papers – previous year’s papers on accounting for class 12 may be found in two places: the internet and books written by a variety of writers. Many years’ worth of paperwork may be found on the final few pages of your accounting textbook. You may gain a comprehensive picture and outline of: by examining these publications.
- Format of a test paper
- Topics that have been highlighted include
- Marking distribution
- Fill in the blanks
Step 6: Solve practice papers – many students believe that reviewing previous year’s papers is enough to get a decent grade. However, when supplied by the proper source, sample papers are as useful. These sample papers of TS Grewal Solutions Class 12 Accountancy will provide you with details and updates on the following topics:
- Any modifications to the format of the question paper
- Any queries you may have?
- Expectation shifts in response
- Alterations in the pattern of responses
Following these procedures will show you that you are not only prepared with the correct answers, but also for any changes or surprises that may occur in the test room. You’d have figured out how to manage your time, maintain your confidence, operate efficiently, and remain alert.
Accountancy preparation tips
Following a few accounting ideas will help you work smarter, prevent errors, avoid wasting time, and achieve your goals. Follow these suggestions:
- To have a good comprehension, always start by learning the theory of ideas.
- From the first day of class, you should practice a sufficient number of accounting problems.
- Be cognizant of the quantities involved in the situation.
- Spend 15 minutes scanning the paper while solving samples and previous year’s papers.
- Always make an effort to complete as many example papers as you can.
- Make sure you understand the debit and credit accounting rules.
- Make a set of flashcards with the definitions of different phrases on them.
- Make a list of commonly asked questions when reviewing publications from previous years.
- Solve prior year’s papers as though they were an exam in and of itself for revision.
While studying for the CPA exam, keep the following in mind.
- Every accounting student in class 12 should concentrate on key topics when studying for the test. As a consequence, you’ll be able to prepare efficiently and effectively.
- Prepare extensive replies in your head by planning them. Once you’ve honed this skill, it may also assist you in passing the test.
- Make a mental note of the question paper structure, the number of questions you’ll be asked, and the total number of points you’ll be given for each chapter.
Along with the principles, the forms of the Balance Sheet, Trial Balance, and Ledger Accounts of Journals must be taken into consideration. To get excellent grades in accounting, you must adequately present them. To improve your speed and accuracy, practice sketching forms at home. Narratives have a similar role. Keep these in mind.