You know the concept. You know the entry. Yet, you score 75/80 instead of 80/80. Where did those 5 marks go? They vanished into “Silly Mistakes.”
Common mistakes in class 12 accountancy
Common mistakes in class 12 accountancy
Common mistakes in class 12 accountancy
Common mistakes in class 12 accountancy
Common mistakes in class 12 accountancy
Common mistakes in class 12 accountancy
In the high-pressure environment of the Board Exam, your brain often skips small details. Here is the Commastery Checklist of the top 7 errors you must avoid to save your marks.
1. The “Per Annum” Trap
Mistake: Calculating interest on drawings without checking the date or the words “p.a.” The Rule:
- If “p.a.” is given: Calculate time factor (e.g., 6/12).
- If “p.a.” is NOT given: Ignore time factor. Charge full year’s interest.
2. Forgetting “Dr.” and “Cr.”
Mistake: Writing Journal entries without writing ‘Dr’ or leaving the Credit column unmarked. Impact: Examiners can deduct ½ mark for every format error. Always use a proper format with Date, Particulars, L.F., Debit (₹), Credit (₹).
3. Narrations: “Being…”
Mistake: Leaving the Journal entry without a narration. The Fix: You don’t need to write a story. Just write “Being interest on capital provided” or “Being assets realised.” A short narration is better than no narration.
4. Copying Wrong Digits
Mistake: In the rush, you read ₹60,000 as ₹6,00,000 from the question paper. The Fix: Use your finger or a pencil to point at the digit while reading. This “Point and Read” technique reduces transcription errors by 90%.
5. Ignoring Working Notes
Mistake: Doing rough calculations on the last page or in the margin. The Rule: Working Notes carry Marks! If a question is of 6 marks, 1.5 to 2 marks are reserved for showing how you calculated “Capital Reserve” or “Sacrificing Ratio.” Make neat Working Notes below your main solution.
6. The “Executive’s Loan” Error
Mistake: In the death of a partner, transferring the balance to “Executor’s Capital A/c” instead of “Executor’s Loan A/c.” The Fix: A dead person cannot have capital. It becomes a liability (Loan).
7. Ratio Confusion: Sacrificing vs Gaining
Mistake: Calculating Sacrificing Ratio during Retirement or Gaining Ratio during Admission. Cheat Sheet:
- Admission → Calculate Sacrificing Ratio (Old – New).
- Retirement/Death → Calculate Gaining Ratio (New – Old).
[Conclusion] Accountancy is not just about accuracy; it’s about alertness. Review this list 10 minutes before your exam to keep your mind sharp.
