The 10 Most Common Mistakes Students of Accounting Make While Preparing for the Examination

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Accounting exams are around the corner, and you are still not sure how to go about it. Either you are over confident or under confident. In either case, you are doing the biggest mistakes of not preparing well for your examination. But what are these mistakes that students tend to do? How does one avoid these? What can you to get out of this? All this and more will be here as you read further.

  1. Not referring into your course material
  2. One of the biggest mistakes that students tend to do is not following the course material. Previewing the notes, the textbooks, the guides are the apt accounting help that one can look for.

    Remember most of the questions are asked from the course material itself. It plays a major role as these are the books that you have been referring to throughout the year. For revision purpose, always refer to your notes. These are the last minute revision notes that are going to help you get the gist of your lesson. Be it the Accounting for partnership firms or companies, or financial statement analysis, you will be good to go.

  3. Not setting your aim right
  4. It is obvious that every student aims for higher grades. Every parent wishes to his or her child to get maximum marks in the accounting lessons. While you set to prepare your accounting lessons, target at some goal that you want to definitely ace in. If you think you think that the chapter on Principles of accounting is not well versed with, make sure you are through with it.

    Similarly, if you think you need to work on your financial statements chapter, make sure you have revised them thoroughly. Keep your focus constant. Tell yourself that in the next 24 hours you will have to complete the chapter within this due date.

  5. Not taking accounting expert help
  6. There are few topics in accounting that require accounting expert help to increase your knowledge. This day getting online accounting help is easy. You get to clear your doubts and queries instantly.

    What happens in a classroom is usually due to the peer pressure, students fear from asking any questions to their professor. By taking experts to help you can take one-on-one session. You can avail help any time of the day. So it is better to seek help from reputed websites when in doubt.

  7. Not solving previous years question papers
  8. One of the grave mistakes that students tend to do is not practicing the previous years’ question papers. There is a lot to learn from these question papers. You will know the pattern of the paper. It helps you to understand what kind of questions can be asked to you. Also with accounting expert help, you will be able to solve the paper easily. This also boosts up your confidence and gives ample scope for practice.

  9. Do not depend 100% on your coaching classes before the examination
  10. Every student requires self-study time. When you start attending coaching classes before the examination, you are whiling time on topics that you have perhaps mastered in.  Besides, traveling takes up your time. In case, you are wondering how to go about it, if not coaching classes? You can avail online accounting expert help and get your last minute revisions done.

  11. Not writing and practicing
  12. Accountancy, Mathematics, Statistics, and Finance are the subjects that require practice. You cannot simply say ‘I have read all the chapters and I am thorough at it’. Well, this does not happen with accountancy, you will have to solve each and every problem to make sure you can solve all by yourself. In case you are stuck, seek accounting help from your seniors, professors, elders, parents, and even online tutors. Remember, at least one problem from each topic must be solved. Especially when it comes to financial statement topic, all the problems must be solved.

  13. Not keeping your distractions away
  14. Now, what are these distractions that we are talking about? We are talking about anything that distracts your attention from your studies. It could be your bunch of friends or your favorite play station. Keep your distractions away as long as you can. If you have achieved your target, pat yourself.  Take 15 minutes off from your session and come back to study.

  15. Don’t leave anything for the last minute
  16. Firstly, do not keep any chapter for last minute. When it comes to preparation of examination, you must have gone through the chapters at least twice before you head with other accounting preparations.  So be it Account codes or Balance Sheet Reconciliations, Bank wires, receiving or Chart of Accounts (COA).

    Also, do not keep any chapter as an option. If Equipment management is not your favorite subject, never mind, but make sure you know the elements of them very well.

  17. Always keep a timetable ready
  18. Now when you have a series of examination in front of you, it is obvious you won’t be able to devote time on one subject particularly, so what do you do? It is simple, keep a plan ready. Make a timetable where you can incorporate all the subjects equally. So let’s say, you have English examination, Finance and Accounting examinations in a series, plan your studies in a way that you can incorporate all the three subjects equally.

  19. Not learning the terminologies well
  20. The other grave mistakes done by students are that they tend to neglect the terminologies.  The definitions of the terms are important to be known. It becomes easy for you to understand the entire spectrum of the lesson hence.  Thus, right from the accounting terms to the acronyms and abbreviations, all the terms must be at your fingertip.  If you do not understand the terms well, seek accounting expert help and you are sure to excel in it.

    There is no shortcut to excel in the examination. It is only the smart way that you take in learning. Don’t hesitate to take timely accounting help. Do let us know your views and comments. Keep looking into this space for more updates.