How to prepare for Commerce & Accountancy Optional Subject for UPSC IAS Exam?

Commerce & Accountancy is one among the optionals offered by the UPSC for the mains exam. It finds a couple of takers per annum though not the maximum amount as public administration or geography. it's generally recommended for people that have had commerce in their graduation or higher levels. this text gives a couple of tips to organize for commerce & accountancy optional within the UPSC mains exam.

Commerce may be a technical subject then only suggested to those with prior knowledge about it. it's also a tad lengthy in terms of the syllabus. inspect the UPSC syllabus for commerce here. However, a plus point of this subject is that you simply can score good marks in numerical problems. The only thing is you would like to practice and have sound knowledge of it. additionally, most of the concepts would have already been done by you during graduation.

There are two papers within the optional subject – Paper I and Paper-II.

Commerce and Accountancy Optional Syllabus

Commerce & Accountancy Paper I

• Financial Accounting: ask J R Monga & D S Rawat. Focus area should be accounting standards. For the numericals, presentation is vital , so give proper working notes along side them.
• Cost Accounting: ask Maheshwari & Mittal. specialise in theory and numericals equally.
• Taxation: ask Girish Ahuja. Here questions are of a graduation level only. The theory is vital here also like exceptions to any rule/section, etc.
• Auditing: ask Aruna Jha.
• Financial Management: ask R P Rastogi. This portion could seem a touch tough. While you prepare specialise in the various models, concepts, terms, etc.
• Financial Markets and Institutions: ask Bharati V Pathak. Also search steps taken by RBI, IRDA, SEBI, etc.
• Focus on numericals as they will fetch you actually high marks.
• Keep a note of formulas and adjustments. Make a sheet of them in order that your revision is simpler .

Commerce & Accountancy Paper II

• This paper consists of theory only and includes organization theory, organization behavior, human resource management, and industrial relations.
• Make suitable notes for the topics during this paper.
• Make sure that while you write your answers you give more of an HR tone instead of a general or GS paper tone.
• Use examples to justify and explain your answers.
• You should also use diagrams wherever possible.

Commerce & Accountancy is optional where you'll score brilliantly if you apply properly. With the proper preparation strategy and good answer writing practice, you ought to be ready to get good marks within the two optional papers. 

Those who are preparing for the IAS Exam and not comfortable joining offline classes because of the covid-19 situation, you can join the IAS Online Course to start your preparation at home.