This year due to covid-19 situation many examinations held via online mode, This is a very bold decision in line with the current situation and also requirements. The pattern of questions is already available in mock test papers. To my knowledge weightage will remain the same as mentioned in the study notes. Students should not feel any surprise or fear of online exams. Well, plan preparations, self-confidence, and hard work have no option. My TIPS for smooth, easy and still scoring higher marks are as under. As financial accounting is the first and opening paper of intermediate, final, and foundation preparations must be excellent as this paper’s performance may affect the performance of remaining papers also as like cricket.
How to Prepare for Online Exam?
2. Prefer exam from the examination hall rather from home. If you have already selected from home, ensure that your system is fully matching the technical requirements. Fully charge your laptop/systems and also an extra power bank before the exam starts every day to ensure continuous and uninterrupted power supply. Also, ensure internet connectivity from two sources. This should be ensured practically for three /four days before the exam to satisfy ourselves.
Wake up early in the morning during exam days and ready before half an hour of the exam with all prerequisites like admit card, pen, pencil, computer system, connectivity, calculator, etc.
1. As the examination is online, now the questions earlier of 16 marks will be now divided into 3 to 4 sub-questions of about 3 to 5 marks each. So do not think that online examination is a new method or style. Do not get panic with unnecessary pressure that we are facing it for the first time online, what will be the types of questions or style of paper. Do not carry unnecessary stress.
3. As the exam is online, concentrate more on formula, principles, the applicability of AS, IND AS, or Accounting Concept or Accounting Conventions, steps required to solve the questions.
4. There are objective questions of about 25 to 30 marks, first attempt objective questions to increase your confidence. Do not memorised theoretical, long questions like definitions’, advantages, disadvantages, characteristics, objectives, short notes, differences. At the same time ensure that you must understand in principle the basics/concepts of this terminology to answer MCQ. So now the exam is not of memory test but it is more of an applicability test. you need clarity in your thoughts.
5. Attempt all the questions which you feel that you can solve easily. If you feel the question is difficult, leave it time being and attempt later when you have surplus time with proper time management. Do not allot too much time to less marks questions.
6. Do not attempt the questions given in the option. Reply only to questions which are mandatory.
7. Keep rough papers for working with you. Also working should be in a neat and readable condition as the same working may help you to resolve another problem particularly in case of preparation of financial statements of profit-oriented organizations, non-profit organizations and also for a partnership where normally you may be asked to find out the profit, capital of proprietors/partners or closing balances of debtors/creditors or fixes assets
8. Practice more on computer as the financial accounting is a subjects with 100% practical sums. This subject should not be read, it must be practised as if you are appearing for exam. This will definitely boost the confidence of students. Practice daily to solve mock test papers to increase typing speed in answering the questions on the computer.
9. As the question will be of MCQ type with the reply, the selection of correct reply will be limited.
10. Do not forget to press the ‘submit’ button at last after satisfying yourself that you have replied to all required questions.
Wish you all the students the best of luck and request to appear with full preparations and confidence.