In short: Accountancy is unlike any subject you have studied before, but it follows clear rules. This 30-day plan takes you from absolute zero to confidently solving final accounts. Week 1 covers the foundation (double-entry system, debit-credit rules, journal entries). Week 2 handles ledger posting and trial balance. Week 3 tackles bank reconciliation and depreciation. Week 4 builds to final accounts (Trading, P&L, Balance Sheet). Daily practice: 45 minutes split as 15 minutes theory and 30 minutes problem-solving.
If you have never seen a journal entry before and Accountancy feels like a foreign language, this post is for you. This is not a revision guide for students who already know the basics — this is a structured 30-day plan to take someone with zero accounting knowledge to a confident, exam-ready level.
For a broader overview of Accountancy study strategy across Class 11 and 12, see our Accountancy beginner's guide. For the complete Commerce study plan including BST and Economics, see our Commerce study guide.
Before Day 1: Understand What Accountancy Actually Is
Accountancy is the language of business. Every business transaction — buying stock, paying salaries, receiving payment from customers, paying rent — needs to be recorded systematically. Accountancy teaches you that system.
Think of it this way: if you run a chai stall, you need to know how much you spent on supplies, how much you earned, and whether you made a profit. Accountancy gives you the exact tools to answer these questions for any business, from a chai stall to a multinational corporation.
The entire subject is built on one fundamental idea: every transaction has two effects. When you buy supplies for ₹500, you get supplies (one effect) and lose ₹500 cash (second effect). This is the Double Entry System.
The 3 Golden Rules of Accounting
Before you learn anything else, memorize these three rules. They govern every single journal entry you will ever make.
| Type of Account | Rule | Example |
|---|---|---|
| Personal Account (people, organizations) | Debit the Receiver, Credit the Giver | Paid salary to Ramesh → Debit: Salary A/c, Credit: Cash A/c (Ramesh receives, we give) |
| Real Account (assets, things) | Debit what Comes In, Credit what Goes Out | Bought furniture → Debit: Furniture A/c (comes in), Credit: Cash A/c (goes out) |
| Nominal Account (expenses, income, losses, gains) | Debit all Expenses and Losses, Credit all Incomes and Gains | Paid rent → Debit: Rent A/c (expense), Credit: Cash A/c |
How to Remember Them
Use this memory aid:
- Personal: Think of a person standing at a door. The receiver (who takes) is on the debit side. The giver (who gives) is on the credit side.
- Real: Think of a warehouse. What comes in goes to the debit side. What goes out goes to the credit side.
- Nominal: Think of your wallet. Expenses (money going out) are debit. Income (money coming in) is credit.
Write these rules on a sticky note and put it on your desk. For the first 2 weeks, refer to it before every journal entry. By Week 3, it will be automatic.
Week 1: Foundation (Days 1-7)
Day 1-2: The Double Entry System and Account Types
Theory (15 min): Read about the Double Entry System from NCERT. Understand why every transaction has two equal and opposite entries. Learn the three types of accounts (Personal, Real, Nominal) and how to classify any account.
Practice (30 min):
- Classify 20 accounts into Personal, Real, or Nominal:
- Cash A/c → Real (asset)
- Ramesh's A/c → Personal (individual)
- Salary A/c → Nominal (expense)
- Furniture A/c → Real (asset)
- Sales A/c → Nominal (income)
- Bank A/c → Personal (organization — the bank is treated as a person)
- Rent A/c → Nominal (expense)
- Commission Received A/c → Nominal (income)
This classification step is crucial. If you classify the account correctly, the Golden Rule tells you exactly which side (debit or credit) to put it on.
Day 3-4: Journal Entries (Basic)
Theory (15 min): Learn the journal entry format. Every entry has a Date, Particulars (debit account "Dr." on top, credit account with "To" below), and Amount columns.
Practice (30 min): Record 15 basic transactions as journal entries:
-
Started business with ₹50,000 cash
- Cash A/c Dr. 50,000
- To Capital A/c 50,000
-
Purchased goods for ₹10,000 cash
- Purchases A/c Dr. 10,000
- To Cash A/c 10,000
-
Sold goods for ₹15,000 cash
- Cash A/c Dr. 15,000
- To Sales A/c 15,000
-
Paid rent ₹5,000
- Rent A/c Dr. 5,000
- To Cash A/c 5,000
-
Received commission ₹2,000
- Cash A/c Dr. 2,000
- To Commission Received A/c 2,000
Practice at least 15 such entries daily. Do not move to Day 5 until you can write basic journal entries without referring to the Golden Rules.
Day 5-6: Journal Entries (Credit Transactions and Discounts)
Theory (15 min): Learn the difference between cash and credit transactions. When goods are bought on credit, cash does not move immediately — a debtor/creditor relationship is created. Learn trade discount (not recorded in books) vs cash discount (recorded).
Practice (30 min): Record 15 transactions involving credit purchases, credit sales, returns, and discounts.
Day 7: Revision and Self-Test
- Attempt 20 mixed journal entries without help.
- Check your answers.
- Make a list of entries you got wrong and note WHY (wrong classification? Wrong rule? Forgot to record discount?).
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Week 2: Ledger and Trial Balance (Days 8-14)
Day 8-9: Ledger Posting
Theory (15 min): The ledger is the "T-account" format where each account has a separate page. Journal entries are "posted" to their respective ledger accounts. Left side is Debit, right side is Credit. Each account is balanced by finding the difference between total debits and total credits.
Practice (30 min):
- Take the 20 journal entries from Week 1 and post them to their respective ledger accounts.
- Balance each account (write "Balance c/d" on the smaller side, carry forward to the next period).
Day 10-11: Trial Balance
Theory (15 min): A Trial Balance is a list of all ledger account balances arranged in two columns: Debit balances and Credit balances. If the total of both columns is equal, the books are arithmetically correct. If not, there is an error.
Practice (30 min): Prepare a Trial Balance from a set of 15-20 ledger balances. Practice identifying whether each account balance goes on the debit or credit side.
Quick reference for Trial Balance placement:
| Account Type | Normal Balance | Trial Balance Side |
|---|---|---|
| Assets (Cash, Furniture, Debtors) | Debit | Debit |
| Liabilities (Creditors, Bank Loan) | Credit | Credit |
| Capital | Credit | Credit |
| Expenses (Rent, Salary, Purchases) | Debit | Debit |
| Income (Sales, Commission Received) | Credit | Credit |
Day 12-13: Rectification of Errors
Theory (15 min): Even when the Trial Balance tallies, errors can exist (errors of principle, compensating errors, etc.). Learn the types of errors and how to correct them using rectifying entries or a Suspense Account.
Practice (30 min): Solve 10 error rectification problems. This topic carries 8-12 marks in exams and is highly scoring.
Day 14: Week 2 Revision
- Complete a full cycle: Journal entries → Ledger posting → Trial Balance preparation from a set of 25 transactions.
- Time yourself. This is the core accounting cycle that everything else builds on.
Week 3: Bank Reconciliation and Depreciation (Days 15-21)
Day 15-16: Bank Reconciliation Statement (BRS)
Theory (15 min): A BRS explains why the bank balance in your books differs from the bank's statement. Common reasons: cheques issued but not yet presented, cheques deposited but not yet cleared, bank charges, direct credits/debits.
Practice (30 min): Solve 8-10 BRS problems. Start from both starting points (starting from Cash Book balance and starting from Pass Book balance).
Key BRS tip: Make a table with four columns — (1) Items that increase Cash Book balance, (2) Items that decrease Cash Book balance, (3) Items that increase Pass Book balance, (4) Items that decrease Pass Book balance. This eliminates the most common BRS errors.
Day 17-19: Depreciation
Theory (15 min): Depreciation is the decrease in value of an asset over time. Learn the two main methods:
| Method | Formula | When Used |
|---|---|---|
| Straight Line Method (SLM) | (Cost – Scrap Value) / Useful Life | Equal depreciation each year. Simpler. |
| Written Down Value Method (WDV) | Rate % × Book Value at beginning of year | Higher depreciation initially. More realistic for many assets. |
Practice (30 min): Solve 8-10 depreciation problems for each method. Practice preparing the Asset Account and Depreciation Account for 3-4 years.
Day 20-21: Bills of Exchange
Theory (15 min): Bills of Exchange are negotiable instruments. Learn drawing, accepting, endorsing, discounting, and dishonoring of bills.
Practice (30 min): Solve 8-10 problems covering all bill scenarios. This is a formulaic chapter — once you learn the format, it is straightforward.
Week 4: Final Accounts (Days 22-30)
Day 22-24: Trading Account and Profit & Loss Account
Theory (15 min): The Trading Account shows Gross Profit (Sales – Cost of Goods Sold). The P&L Account shows Net Profit (Gross Profit – Expenses + Other Income).
Format to memorize:
Trading Account:
- Debit side: Opening Stock, Purchases (less Returns), Direct Expenses (wages, carriage inward, freight)
- Credit side: Sales (less Returns), Closing Stock
Profit & Loss Account:
- Debit side: Indirect Expenses (rent, salary, depreciation, insurance, bad debts)
- Credit side: Gross Profit (from Trading A/c), Other Income (commission received, discount received)
Practice (30 min): Prepare 3-4 complete Trading and P&L Accounts from Trial Balance data.
Day 25-27: Balance Sheet
Theory (15 min): The Balance Sheet shows the financial position of a business on a specific date. It has two sides: Assets (what the business owns) and Liabilities + Capital (what the business owes).
Format:
| Liabilities Side | Assets Side |
|---|---|
| Capital + Net Profit – Drawings | Fixed Assets (Land, Building, Machinery, Furniture) |
| Long-term Loans | Investments |
| Creditors | Debtors |
| Bills Payable | Bills Receivable |
| Outstanding Expenses | Closing Stock |
| Bank Overdraft | Cash in Hand, Cash at Bank |
| Prepaid Expenses |
Practice (30 min): Prepare 3-4 complete sets of Final Accounts (Trading A/c + P&L A/c + Balance Sheet) from Trial Balance data with adjustments.
Day 28-29: Adjustments in Final Accounts
Theory (15 min): Adjustments are the hardest part of Final Accounts. Common adjustments: closing stock, outstanding expenses, prepaid expenses, accrued income, depreciation, bad debts, provision for doubtful debts.
Key rule for adjustments: Most adjustments appear in TWO places — once in the P&L Account and once in the Balance Sheet. Learn where each adjustment goes.
| Adjustment | P&L Account | Balance Sheet |
|---|---|---|
| Closing Stock | Credit side of Trading A/c | Assets side |
| Outstanding Expenses | Add to respective expense | Liabilities side |
| Prepaid Expenses | Deduct from respective expense | Assets side |
| Accrued Income | Add to respective income | Assets side |
| Depreciation | Debit side of P&L | Deduct from respective asset |
| Bad Debts | Debit side of P&L | Deduct from Debtors |
| Provision for Doubtful Debts | Debit side of P&L | Deduct from Debtors |
Practice (30 min): Solve 3-4 Final Accounts problems with 5-8 adjustments each.
Day 30: Full Practice Test
Attempt a complete exam-style Accountancy paper covering:
- Journal entries (15-20 transactions)
- Ledger and Trial Balance
- BRS or Depreciation
- Final Accounts with adjustments
Time yourself to 3 hours. This simulates exam conditions.
Top 5 Mistakes Beginners Make
-
Confusing debit and credit. Debit is NOT "money going out" and credit is NOT "money coming in." Debit is the LEFT side of an account. Credit is the RIGHT side. The Golden Rules tell you which side to use for which account type. Memorize the rules, not the intuition.
-
Not practising journal entries daily. Accountancy is a skill, not a knowledge subject. You learn by doing, not by reading. 30 minutes of daily practice beats 5 hours of weekend cramming.
-
Skipping narration in journal entries. The narration line ("Being goods purchased for cash") is part of the entry format. Board examiners expect it. Skipping it costs marks.
-
Not balancing ledger accounts. After posting all entries to a ledger account, ALWAYS balance it. The balance is what goes into the Trial Balance. An unbalanced ledger leads to a wrong Trial Balance leads to wrong Final Accounts.
-
Trying to "understand" rather than "follow the rules" initially. In the beginning, follow the Golden Rules mechanically. Understanding WHY debits and credits work the way they do comes later, after you have practiced hundreds of entries. Trying to understand the theory before practising the skill creates confusion.
Daily Practice Routine (45 Minutes)
| Component | Time | Activity |
|---|---|---|
| Theory review | 10-15 min | Read NCERT or notes for the current topic. Focus on format and rules. |
| Problem solving | 25-30 min | Solve 5-8 problems. Journal entries, ledger, BRS, depreciation, or final accounts depending on the week. |
| Error review | 5 min | Check answers. Note every mistake in an error log. |
This routine, followed daily for 30 days, is enough to take you from zero to confidently handling Final Accounts with adjustments.
Frequently Asked Questions
I have no Commerce background. Can I still learn Accountancy?
Yes. Accountancy does not require prior Commerce knowledge. It is a new subject for everyone in Class 11. The 3 Golden Rules and the Double Entry System are taught from scratch. Follow the 30-day plan and you will be at the same level as anyone else.
Is Accountancy like Maths?
Partly. It involves numbers and calculations, but the thinking is different. Maths is about finding answers using formulas and logic. Accountancy is about recording transactions using rules and formats. If you like systematic work and following structured processes, you will likely enjoy Accountancy.
How many journal entries should I practice daily?
Minimum 10 during Weeks 1-2. After that, shift to composite problems (ledger, trial balance, final accounts) which inherently involve multiple entries. By Day 30, you should have solved approximately 250-300 journal entries total.
What if I fall behind on the 30-day plan?
The plan is flexible. If a topic takes longer, spend an extra day on it. Better to understand one topic thoroughly than to rush through two topics superficially. The most important thing is daily practice — even on "bad" days, solve at least 5 problems.
Which reference book should I use for Accountancy?
NCERT is the primary text. For additional practice problems, DK Goel or TS Grewal are the standard references for CBSE Commerce students. You do not need both — pick one and complete it. DK Goel has more solved examples, TS Grewal has more practice variety.
How does this 30-day plan connect to the full-year Commerce strategy?
This plan covers the core Accountancy skills you need for the year. After completing it, continue daily Accountancy practice (30 minutes minimum) while adding BST and Economics. See our complete Commerce study guide for the full-year timetable.
Start Day 1 Today
Accountancy is one of the most scoring subjects in Commerce if you build the foundation right. The 30-day plan gives you that foundation. Every day you delay is a day where the backlog grows and the concepts pile up.
Open your NCERT Chapter 1. Learn the three types of accounts. Classify 20 accounts. That is Day 1. Start now.
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