How to Study Accountancy for Board Exams

Accountancy can be one of the most scoring Commerce subjects — but only with regular practice. Here is how to prepare for the CBSE Class 12 board exam, using the 2026-27 marks.

The Accountancy Formula

• Accountancy is mostly practice, built on a clear understanding of the concepts.
• You cannot score in Accountancy by reading — you must solve problems.
• Solve a few full questions every day — consistency matters more than volume.
• Speed matters — board papers are lengthy. Build speed through practice.

Part A: Partnership Accounts

• Fundamentals — admission, retirement, death of a partner.
• Goodwill — valuation by average profit, super profit and capitalisation methods, and its treatment as per AS 26.
• Dissolution of partnership — journal entries and realisation account.
• Partnership carries 36 marks — the biggest unit, so master it completely.

Part A: Company Accounts (24 marks)

• Issue of shares — over- and under-subscription, premium, calls in arrears and advance, forfeiture and re-issue.
• Issue of debentures — at par, premium and discount, as collateral security, and writing off discount on issue.

Part B: Financial Statement Analysis (20 marks)

• Cash Flow Statement (8 marks) — indirect method; practise the adjustments.
• Accounting ratios — Current, Quick, Debt-Equity, Profitability ratios.
• Analysis of financial statements (12 marks) — comparative and common-size statements, and ratios.

Common Mistakes to Avoid

• Leaving out narrations in journal entries — they are part of a complete answer.
• Incorrect formatting of financial statements — use proper headings.
• Calculation errors in ratios — double-check division and percentages.
• Not showing working notes — examiners cannot give step marks without them.

Marks and topics from the CBSE Class XII Accountancy syllabus 2026-27 (cbseacademic.nic.in).