Commerce Preparation Tips - Accountancy/Business Studies/Economics

Last week, science teachers from few schools in Delhi NCR shared tips for students who will be taking the CBSE board exams that started in March 2022.

While science students are worried about memorising formulae, remembering concepts and practising numerical, commerce students face a different kind of challenge. They have to get their calculations right, deal with a vast syllabus and study business-related terms and jargon.

The best way to deal with commerce subjects is to practice solving as many sample papers as possible and having your concepts clear as the subjects comprise both short and long answer type questions.

“You have to go beyond the NCERT as far as commerce subjects are concerned, especially in the case of accountancy,” say teachers.

Accountancy:

• Attempt questions on company accounts, cash flow statements and partnership first.
• These carry 60% weightage in the paper.
• Calculate each and everything properly.
• Show proper working notes.
• You must draw up a proper format and must write narrations in the case of journals.
• You should also go through all illustrations and give formulae for ratio analysis.
• Besides the NCERT, you must also refer to CBSE sample papers and Double Entry Book Keeping by CS Grewal since there are limited questions for practice.

Business Studies:

• In a question with words like ‘enumerate’ or ‘list’, write only points.
• Explanation of each point should not be more than five to six lines.
• Try to write headings as given in the NCERT book.
• If you forget the point don’t worry, you can write any related point or you can write the explanation without the heading and then you can underline within the explanation. Give examples wherever possible.
• Start the answer from the extract given in the question.
• In questions like ‘Do you agree with this statement…,’ start answers with your viewpoint i.e. ‘I agree with XYZ because….’ Remember, business studies is very scoring.
• The only thing you have to do is stress on presentation.
• During revision, start recalling the points of the first three chapters and then keep on adding another two chapters.
• Then revise five chapters together and so on. Don’t panic if you forget the heading. Write any related point or just write the explanation without the heading. You will be granted marks. But it does not mean that you don’t write the heading at all.
• The important chapters include formal and informal organisation, delegation and decentralisation, financial management, and marketing management etc.

Economics:

• Stick to the syllabus prescribed by CBSE.
• Plan your revision schedule to avoid last moment stress.
• Make a flow chart of every chapter.
• Prepare effective notes of terms, definitions and important points chapter wise.
• These will suffice for final revision before the exam.
• Practise drawing neatly-labelled diagrams.
• Unlabelled diagrams do not convey any meaning.
• Use schedules/diagrams to revise the concepts. Hone up your analytical skills.
• Understand the reasons for the relationship between variables - such as total product and marginal product, total fixed cost and average fixed cost etc.
• While revising the paper, ensure the following: Write the correct equation/ formula - follow a logical pattern.
• Transfer correct values from the question to answer.
• Try and reduce writing time to two-and-a-half-hours to ensure ample revision time of the written answer for yourself.
• If you get stuck, try to remember a related fact. If that does not work, go on to the next question. Come back to it later.
• Be neat in the presentation of your answer.
• Highlight/underline the salient points.