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How to Prepare For CPT Accounts in 30 Days?

By Admin |
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Hi there! How is it going? Do you feel flustered, with CPT December 2018 exams breathing down your neck? We understand your plight. We are sure your exam preparations have reached its pinnacle. We too are determined to keep up with you and support you with our series of tips and tricks videos for CPT. Today’s topic of discussion is Accountancy.

Often, our students ask us their favorite question: “How to prepare for CPT accounts in 30 days?” and our immediate response is a raised eyebrow: ‘Oh so, you have finally woken up, have you?’. But don’t you worry yet, there are a number of things you can do in the last 30 days before CPT Accounts exam that will ensure you crack it successfully.

But before we start with the preparation tips for CPT Accounts in 30 days, we would like you to make note of two things: firstly, you have limited time in hand and secondly, you need to measure every move strategically from this moment onward.

Step by Step Guide To Prepare For CPT Accounts in 30 Days 


Step 1: Know your syllabus:

Contents:

 1. Theoretical Framework of Accounting

 2.  Accounting Process

 3.  Bank Reconciliation Statement

 4. Inventories

 5.  Depreciation Accounting

 6. Preparation of Financial Statements for the Sole-Proprietors

 7.  Accounting for Special Transactions

 8.  Partnership Accounting

 9.  Company Accounts


Step 2: Know the most important chapters, maximum marks, and minimum the eligibility:


Maximum Marks: 60 Marks

Minimum Eligibility: 18 Marks

Most Important Topics:  Introductory Chapters, Final Accounts, Partnership Accounting, Company Accounts


Step 3: Know the chapter-wise weightage (based on trends)

No.

Chapter

Expected Marks

1

Journal

3 to 5

2

Ledger

0 to 2        

3

Subsidiary Books

0 to 1

4

Cash Book

0 to 2

5

BRS

2 to 4

6

Trial Balance

0 to 1

7

Final Accounts-1

6 to 10

8

Final Accounts-2

9

Bills of Exchange

3 to 5

10

Consignment Accounts

2 to 6

11

Joint Venture

0 to 2

12

Inventory Valuation

1 to 3

13

Goods sent on Sale or Return Basis

0 to 1

14

Capital & Revenue Expenditure

1 to 3

15

Contingent Assets & Liabilities

1 to 2

16

Depreciation

3 to 6

17

Rectification of Errors

2 to 3

18

Partnership Accounts

6 to 10

19

Company Accounts –1

8 to 11

20

Company Accounts – 2

1 to 4

21

Accounting an Introduction

4 to 7


Step 4: Customize a study planner

Here is a sample study planner for the next 30 days. Feel free to customize it according to your need:

No. of active hours per day

12

Hours kept aside for Accountancy

8

Hours available for 2nd subject (to be studied alongside Accounts)

4

Allocating hours effectively:

  •  Cover two subjects regularly
  • Club one practical subject with a theory paper
  • Number of hours to be devoted to each subject is your call
  • Practice Accountancy on every alternate day
  • Allocate at least 6 hours to Accountancy

Order of Learning:

      1. Introduction to Accounting

      2. Journal

       3. Final Accounts

      4. Partnership Accounting (Familiar)

      5. Company Accounting (Familiar)

      6. Special Transactions and Others

Once you are done with the most important topics, you can move to chapters like Depreciation and the others.


CPT Accounts Preparation Tips for the Last 30 Days


Take time to revisit your learnings – Without proper revision, your chances of cracking CPT Accounts is slim. Revising with Practice Manuals and Previous Year Papers will help you to enhance conceptual understanding and will boost your confidence.

Try attempting mercantile law section first – When writing your exam, attempt Mercantile Law first. Attempting questions from this subject is comparatively easy and takes less time. Once this is done, you are now free to attempt the questions of Accountancy. You don’t have to hurry up unnecessarily.

First attempt the known questions – This applies for both Law and Accountancy. This not only helps to manage time but also boosts your confidence. It is always advisable to start writing your exam on a good note.

Practice as much as you can – Together with exam jitters and a ticking clock making silly mistakes while calculating seem to be unavoidable and cost students chunks of marks. Practice more to gain confidence. For an MCQ based exam like CPT, practice equals speed.

Attempt at least one mock test paper – Mock Tests help you to analyze mistakes and rectify them before appearing for exam in real time. It is an important tool to measure your exam preparedness.


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