How To Prepare For Class 11 Accountancy?

Students that choose Commerce stream in class 11th, have to study accountancy subjects which might prove to be a challenging subject for many but with consistent practice, it can become your strong and high scoring subject. Even if it might be perceived as a difficult subject by many, it’s important that the students keep putting in the effort to develop their basics and make their foundation of the subject strong as accountancy is a subject that is important in class 12th and even in the future career of the student also.

Here are some tips on how to prepare for class 11th accountancy –

  •       Plan out how to study complete syllabus –

Before beginning out on the journey of studying the syllabus of class 11th accountancy, it is significant to have a roadmap on how you are planning to complete the syllabus in time. Students should analyses the chapters that they have to study and allot time daily to study topics so that they are able to study the chapters as well as practice adequately to be well prepared for exams.  

  •       Prepare topics from NCERT primarily –

The primary source of preparation for Accountancy should be NCERT as it is designed as per the syllabus prescribed by CBSE. Students should focus on learning the basics of the subject from NCERT first and foremost and solve the questions present in NCERT before moving on to other books of different authors in order to get more practice, as practice is essential in preparing for accountancy.

  •       Understand and learn basic definitions and concepts –

As accountancy is a new subject as students enter in class 11th, they should focus on learning and understanding the basic definitions and concepts that are given so that they are able to prepare a solid foundation and basic understanding of what Accountancy is about a subject. Students should learn the concepts and understand the logic and reasoning behind the concept by heart as these concepts will be used in higher classes and in careers as well.

  •       Focus on merits and demerits of concepts –

Students should learn and understand what the various merits and demerits of given topics are because questions are asked in the exam based on them. Understanding is one thing and memorizing is another thing altogether. Hence, students should focus on memorizing by writing down the merits and demerits in notes copy which will also help them in revision time.

  •       Memorize formulas of Accountancy –

Accountancy consists of several formulas and it is imperative that students not only remember these formulas by heart but also know the logic and thought process on how to use these formulas in various questions that require the use of formulas to solve the question. Understanding the way a formula works is as important as learning the formula itself because even if you remember a formula, until and unless you know how to use it correctly in a question, it will be of no use.

  •       Make proper Working Notes –

It is essential that you make proper and clean working notes in exams as they form the basis of the amount that is to be calculated and then put in accounts and journals. Working notes are important for step marking in case you are unable to solve the entire question and they carry marks in the exam so make sure to make clear and concise working notes in the exam without fail.

  •       Make chapter wise notes as you study –

As you go about studying the syllabus for Accountancy, make it a habit to write down the notes which consist of important and key points in a separate notebook so that you are able to access them quickly when revising. When you are practising questions and get stuck on a question, you can refer to the notes to glance at the formula or concept that is required in solving that question.

  •       Refer to reference books like DK Gael –

There are various reference books that are available in the market which can help you in practicing questions for accountancy, like TS Grewal and DK Goel. After you go through the NCERT and have a good grasp on the basic concepts, you can move to these reference books to expose yourself to a wider variety of questions that might be asked in the exam, so that you can save time in the exam on how to solve a question of a certain type as you would have already encountered that question type while practicing from a reference book. If you encounter any difficulty in solving any question, you can always refer to DK Goel Accountancy Class 11 Chapter 11 Solutions to see where you went wrong.  

  •       Improve your calculation speed and accuracy –

Accountancy is a subject full of formulas and calculations which makes it necessary that you are accurate and quick in making calculations. If you commit even a silly mistake while doing a calculation, your answer will come out wrong and you will lose out on significant marks that could make a difference in your final result. Hence, it is imperative that students do all the calculations by themselves even when practicing questions so that they get better at it with time.

  •       Revise with full concentration –

Revision is one of the most important parts of preparation and preparing for the Accountancy exam is no different. A Lot of time that is remaining among all the chapters so that you are able to revise all chapters without any problem. While revising, give special attention to the topics that troubled you when you initially studied a chapter so as to prepare all the topics properly for the exam.

  •       Practice previous years’ question papers and sample papers in exam-like conditions –

Giving previous years’ questions papers and sample papers is essential and giving it at the same time as the original exam with similar conditions prepares you mentally for the main exam. You will understand the pattern and variety of questions in a better way and you will be able to anticipate the speed required to complete the entire paper in time.

GOOD LUCK!

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