Commerce and Accountancy Books for UPSC

Commerce and Accountancy books hold significant importance for UPSC optional preparation as they are a key resource for candidates who have chosen this subject. These books provide an in-depth understanding of fundamental concepts, principles, and theories related to commerce, accounting, and business. The syllabus for Commerce and Accountancy covers a broad range of topics, including financial accounting, corporate accounting, business finance, auditing, and economics. Thoroughly studying these books equips candidates with the knowledge and analytical skills needed to tackle complex questions in the exam.

UPSC Commerce and Accountancy Optional Books

Commerce and Accountancy is considered a scoring optional subject in UPSC, and a strong command over the subject can contribute significantly to a candidate’s overall performance. The practical applications of accounting principles and business concepts are essential in understanding economic trends, financial management, and corporate governance, which are relevant for the optional paper.

Overall, the importance of Commerce and Accountancy books lies in their role in building a comprehensive foundation and strategic approach for UPSC optional preparation, contributing to a candidate’s success in the examination.

Books for Commerce Optional Paper I

This paper deals with the theoretical and practical aspects of accounting, auditing, financial management, taxation, and business finance. It requires candidates to have a good knowledge of accounting standards, principles, methods, and techniques. It also tests candidates’ ability to solve numerical problems, analyze financial statements, and apply accounting concepts to various situations. Here is a list of recommended books:

• Accounting Corporate Accounting – Naseem Ahmed
• Accounting Standards- D. S. Rawat
• Auditing Students’ Guide to Auditing- Aruna Jha
• Income Tax book by- V.K. Singhania or Girish Ahuja
• Cost Accounting; Theory & Problems- Maheshwari & Mittal
• Financial Management
• Taxation- Income Tax, Service Tax & VAT
• Financial Management; Text and Problems- Khan and Jain
• Financial Markets & Institutions
• Indian Financial System- M.Y. Khan
• Financial Institutions & Markets- L.M. Bhole

Books for Commerce Optional Paper II

This paper deals with organizational behaviour, human resource management, industrial relations, marketing management, and business environment. It requires candidates to have a good understanding of the concepts, theories, and practices of management and administration. It also tests candidates’ ability to apply management skills, tools, and strategies to various scenarios. Here is a list of recommended books:

• Human Resource Management- C.B. Gupta
• Industrial Relations- T.N. Chabra and R.K. Suri
• Dynamics of Industrial Relations- C.B. Mamoria and Satish Mamoria
• Human Resource Management- K. Aswathappa
• Organisation Theory and Behaviour- B.P. Singha and T.N. Chabra
• Organization Behaviour- L.M. Prasad

How to prepare with Commerce and Accountancy Books?

Commerce and Accountancy is a popular optional subject for the UPSC Mains exam, especially for those who have a background in commerce. However, it requires extensive reading and integration from different sources, as well as regular practice of numerical and theoretical questions. Here are some tips on how to use commerce and accountancy books to prepare for this optional:

• First, you should read the NCERT books for commerce and accountancy to get a clear understanding of the fundamentals and basic concepts. These books will also help you to cover the static portion of the syllabus.
• Next, you should refer to the recommended books for commerce and accountancy optional, such as Financial Accounting by S.N. Maheshwari, Cost Accounting by Jawahar Lal, Taxation by Girish Ahuja, Human Resource Management by C.B. Gupta, etc. These books will help you to cover advanced topics and provide you with sufficient practice material.
• You should also keep yourself updated with the current affairs related to commerce and accountancy, such as the latest budget, economic survey, GST, corporate governance, etc. You can use newspapers, magazines, and online sources for this purpose. You should also make notes of the important facts and examples that you can use in your answers.
• You should also solve the previous year’s question papers and mock tests for Commerce and Accountancy Optional to assess your preparation level and identify your strengths and weaknesses. You should also revise your notes and books regularly to retain the concepts and formulas.