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CBSE Class XII Board Examination 2020-21: Accountancy examination; how to score well and prepare for accounts

Accountancy is a very demanding subject which requires rigorous practice and clarity of concepts. To score well, a student needs to practice the concepts throughout the year.
Students often panic and mess up last minute preparation for the examination. Accountancy teacher Rakhi Garg explains how students can score well while staying calm during board examination.
Tips to score well in Accountancy
They should also study thetheoretical sections nicely so that scoring becomes easy in multiple choice questions, Fill in the blanks, True or False Section. True or False Section should always be supported with the reason.
Accountancy paper is time consuming and most of the students strugglesin completing the paper due to lack of time management.This year CBSE has changed the pattern of the question paper byincreasing number of choices, Adding Multiple choice questions which has made the life of students bit difficult because for cracking these questions the students must be well versed with each and every line of their NCERT book.
Common Mistakes of Students
• Not giving proper heading to the solution.
• Not writing narration to the journal entries.
• Adding excess zeros to the figures.
• Showing unnecessary working notes where it’s not required.
• Wasting unnecessary time in 1 marker questions
Important Chapters 
1. Issue and Forfeiture of Shares
2. Cash Flow Statement
3. Financial Statement of Companies
4. Journal entries in Dissolution of Partnership Firms
5. Introduction to Partnership Firm
6. Death of a partner.
7. Not for profit organisation
8. Admission of a Partner
Tips to resolve mistakes & attempt exam
• Students should solve the Latest Sample Paper provided by the Board, unsolved papers and previous years. Board examination papers which give them idea about level of questions and understand different type of language used in questions because students generally get confused in language and commits mistake.
• Students should wisely use their 15 minutes reading time. They should go through all the choice question and decide which question they are going to attempt and shouldn’t waste time in reading 1 mark question because any how they will read these questions once again while attempting them.
• Students should underline the Figures given in question of shares and debentures and be extra alert whether number of shares or debentures is mentioned in question or total value of shares and debentures is given.
• Students should show working notes only where its required, they should not involve themselves in showing unnecessary calculation or journal entries in working note where it’s not necessary.
• Students should attempt 1 marker questions at the end and be very specific.
• Students should attempt all the questions and shouldn’t waste their time in lengthy calculations.

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