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How to Pass Your Accounting Exams?
Nov 16th 2015 at 7:16 PM
Here are a few tips for you to ace your Accounting exams.
- Read the question carefully: Accounting concepts are broken into topic areas. If at all you read the question properly, you will be able to recognize them and reach out to correct answer.
- Read the question prior to the supporting material: Understanding what the question expects of you is more important than fishing for other information given in the question. Once you understand the demand of the question, you pick up the supporting material without struggle and proceed to give the answer.
- Show all your workings and narrations on the paper: Your thinking might be correct but you may go wrong in calculation or final output. So, show all your workings on the paper for which you may get some marks even if your answer is wrong.
- Include the correct format: While doing a cash flow statement or balance sheet, include the right format and fill in the columns like company’s name, period and sub headings properly. This kind of writing will fetch you some marks even when you get stuck in your answer.
- Manage your time prudently: Divide the exam time by the no of questions and allot time equally to each question. When you get stuck in a question, switch over to the next one and do not stay on the same question.
- Start from the easiest to the hardest: Choose questions which are easy and move on to the tough ones. It boosts your confidence.
- Give up rote learning: Think in concepts and don’t memorize. Thinking in concepts leads to logical explanations and proper answers. This is very essential for Accounting concepts.
- Come back to the basic principles: Whatever be the concepts, Accounting concepts rely on basic principles and you need to be strong in them for mastering the concepts. So, be thorough with basic principles in Accounting.
- Understand that Accounting has a structure: You cannot move out of it and follow that basic Accounting structure to decipher the type of questions in your exam paper.
- Check your calculations: Lots of careless mistakes occur in Accounting problem solving. Check them for correct answers and better scores.
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