I have often come across students who have felt disappointed on seeing their exam results, because they had scored much less than what they had expected to score, in their accounts paper. This post is for the benefit of such students. The inputs given below are sure to help them in some way.
Below are the points which should be followed while preparing for and presenting the accounts paper:
1. Formats
The importance of formats in accounts can never be underestimated. There are specific formats for journals / ledgers / statements in accounts. Without these formats, marks will definitely be reduced even if the balance sheet tallies. Similarly narration is important while doing journal entries. Students should take efforts to become thorough with the formats, should prepare a booklet that contains all such important formats, and should take pains to prepare the same in the exams.
2. Working notes
Wherever figures are not directly available, students need to show the workings in the form of working notes. In fact they should start with preparing the working notes with proper numbering, which shall be followed by the main accounts. Proper working note reference should be given in the respective parts of the main answer as well.
3. No shortcuts
Students should never ever skip showing any part of the working. For instance, if there are sales returns, then sales less of return should be shown in the trading account credit side. If students directly show only the net sales, then marks will be reduced for the same.
4. No short forms
Other than certain standard short forms, students should not use any other short forms. Complete words should be written.
5. Clear handwriting
The writing should be clear and legible. It is not necessary that handwriting should be neat, it is only essential to have clarity of writing.
Students should try and follow the above points in order to score high marks.
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