Commerce and Accountancy
Having been associated with commerce for the last 5 years since class 11, choosing it as the optional subject was a no brainer. I do not believe in any optional subject being good or bad, scoring or not, etc. Every subject has its own merits and demerits. However, if one has done their graduation seriously, sticking to the same subject helps not only in the Mains but also in the Interview.
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Optional Subject papers are rightly considered to be the most important part of the Mains Examination. No candidate can expect to achieve a good rank while not doing good in these. On average, a minimum of 280-300 (out of 500) marks are expected in the optional i.e., 60% whereas, a topper usually secures 45% in the GS papers. This puts in perspective the effort required in one's optional subject preparation.
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Regarding classes, I took Optional Coaching at Ranker's Institute, Karol Bagh, New Delhi along with the 5th semester of Graduation. It was a quintessential decision regarding my preparation and this rank could not have been made possible without the guidance I received there.
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How to ace Commerce and Accountancy?
I have segregated my Strategy into Paper 1 and Paper 2. Both papers have very different approaches and hence, need to be tackled in their own unique ways. I have also uploaded all of my notes and some of some sample test papers for the benefit of future candidates. I have also mentioned some tips regarding answer writing and completing the exam within the stipulated time.
Paper-1
Financial Accounting, Cost Accounting, Taxation, Auditing, Financial Management, and Financial Markets and institutions
My source material for all of the subjects of Paper-1 was limited to the printed notes provided by Ranker's Classes and my own class notes. Some candidates prefer practicing more questions from their B.Com/CA books but I was never a fan of increasing the book-load and hence decided to stick to the material provided.
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Having good awareness of the Previous Year Questions is imperative to gauge the mind of the examiner and also to keep one's preparation within the requirements of the exam. Hence, the topic-wise PYQs at the beginning of each Ranker's book can be of great help.
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Paper-1 is wrongly assumed to be of Practical nature. A careful analysis reveals that not more than 100-110 marks (out of 250) are from practical questions. Hence, equal importance to the theoretical aspects of Paper-1 subjects needs to be given.
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Not leaving anything given in the syllabus should be the mindset. When it comes to the optional, having adequate knowledge of all topics is key. Given that each paper in the optional has 10 compulsory short notes and scoring well in them is imperative to reach that 150+ mark in each paper, a comprehensive study is required.
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Practicing practical questions - A good hold over concepts in Paper-1 can help the candidate to achieve excellent marks in the practical questions. Adequate practice is required to complete such questions in less than the stipulated time so as to have reserve time for errors and mistakes. The presentation of the practical answers is also key. I always made sure to use a pencil and a scale to draw my tables for journals, ledgers, etc. and never miss any of the Particulars columns. It showcases a sense of completeness to the answer and reflects seriousness to the examiner. Finally, writing theoretical points to complement the practical answer always serve as a good closure and helps in bringing some extra marks.
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The theoretical part of Paper-1 generally receives less attention from candidates and hence many lose marks in this domain. Conceptual clarity of topics automatically helps in answering such questions but a concerted effort is nonetheless required. Making notes in one's own words helps in remembering the key points efficiently.
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Paper-2
Organisation Theory, Organisation Behaviour, Human Resouce Management and Industrial Relations
The subjects in Paper-2 are 100% theoretical in nature and hence become quite difficult for majority of the candidates to master. Therefore, diligent hard-work is required to ensure good hold over key concepts and to expand one's ability to write interesting, crisp, and to-the-point answers.
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Again, my source material for Paper-2 was limited to the 4 books provided by Ranker's Classes. I had decided to reduce those books into notes of my own (link provided below) so as to ensure quick and multiple revisions during the course of the preparation.
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Answer Writing is of much importance in Paper-2 because of its inherent theoretical nature. Regular practice in this regard is key. During classes at Ranker's, I never missed a test and followed up each with a detailed discussion with the faculty on areas of improvement. Paper-2 answer writing demands liberal usage of diagrams, schematics, flow charts, etc. so as to make the answer look appealing. I made sure that each page of my answer booklet contained one or the other form of these. Finally, having a good introduction and a conclusion always brings a sense of comprehensiveness to the answer irrespective of the marks it carries.
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When it comes to the daunting task of memorising numerous theories and thinkers, Paper-2 is all about revision. The notes one diligently makes help in revising the same material multiple times. For me, it was always about having a good hold over what I have already studied than scrambling for more and more resources.
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I am attaching all my notes of Paper-2 below to help the candidates have a starting point in developing their own.
Miscellaneous Tips
The usage of schematics and flow charts will not come directly in the exam. One needs to practice them religiously in every mock paper.
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Against common perception, Commerce Optional papers are not lengthy. A well planned time schedule of 3 hours can help a candidate to finish every paper in time. That schedule gets developed while attempting many 3-hour papers.
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As far as the decision making regarding which questions to attempt goes, I followed a very simple tactic. As soon as I got the paper, I used to quickly finish the 2 compulsory questions (Q1 and Q5). Then, I used to do the easiest question from each section (one from Qs 2,3 and 4 and one from Qs 6,7 and 8). Now, I was supposed to do only one question and had 4 options to choose from. This technique helps in saving the time spent on deciding what all questions to do and hence, ensures paper completion every single time. Needless to say, writing at speed is a sine qua non.
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The time-table of the Mains Examination is in a manner such that the candidate gets a 5-day gap between the GS papers and the Language and Optional Papers. Moreover, there is a 2-hour gap between Paper-1 and Paper-2 of the Optional Subject. Strategic Planning would call for knowing beforehand what is to be done in those 5 days and in those 2 hours. I had my last-minute notes ready for revision before entering the examination hall for each paper. I have given a link to these notes below.
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Current Affairs, though might seem non-relevant from the Commerce Optional perspective, can be made good use of to enrich one's answers. A candidate can quote new management techniques/methods of various Indian and International companies wherever possible.
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Overall, Commerce and Accountancy as an optional subject should not be feared just because of its vastness. It is quite manageable and even gives a head-start to those who have done their graduation in similar subjects.
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