I want to learn how to solve the cost accounting questions
Answer (1)
29th Dec, 2020
Hello,
Accounting questions can sometimes be difficult to solve. In particular, tricky problems relating to financial accounting, cost accounting or tax accounting but it can be easy through proper understanding and revision.
- First try to relate a particular accounting problem to a simpler problem you may have solved in your accounts classes. If you are encountered with unfamiliar financial information, you can convert it to known financial information.
- It is always better to do group study sessions and share the expertise of your friends. Try to solve accounting problems together, so that even if you make mistakes, you may take help from your friends. some can help you in balance sheet, while others can do the calculation.
- You need to go through the basic concepts of accounting, costing and taxation in order to serve any problem. Thus, it is better to have a strong base in order to apply the theoretical knowledge to practical solutions.
- You can take help of tutors, online classes etc.
Thumb rule is understanding the concept and then applying with the help of formula. So practice daily and try to do more questions as much as possible.
Hope this helps!!
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