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2
 Detailed Analysis of
Commerce optional and
broad preparation strategy
By CA RS Agrawal

www.rankersclasses.in
7011706418, 9818464467, 9818368018
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3
 Preface
Commerce & Accountancy has been a
consistently winning optional for the
past two decades in the prestigious
exam of Civil Services, popularly
known as IAS & IPS exam.
Commerce candidates have secured top All
India Rank no 2,5,6,8,9,10,11,12,13(4 times),
15,18,21,22,23,23,23, 24, 24, 25, 26, 27 and so
on during past 15 years. It shows the marks
and Rank fetching potential of Commerce &
Accountancy optional.
For any commerce graduate and
professional, commerce is a natural choice.
It is easy, objective, marks fetching and
largely covered. Its success rate (Final
Selections) of 12.9% is among the top three
optionals i.e. Management, Economics and
Commerce. Other humanities optionals like
Political Science & Sociology have less than
10% success rate.

4
Civil Services examination of UPSC has three
stages:
1. Preliminary Examination 400 Marks
2. Mains(written) Examination 1750 Marks
3. Mains(Interview) 275 Marks
For final merit marks secured in Mains (1750+250=
2025) are considered

Mains(written) includes 1000 marks for GS, 250

Marks for Essay and 500 Marks for optional
subjects.

Commerce & Accountancy is one top five highest

marks fetching optional subjects. It consists of
two papers of 250 marks each. Total 500 marks.

Optional subjects are considered crucial to get

selected and secure high rank because they can
fetch more than 60% marks compared to GS that
generally fetches around 40% marks.

The details about Commerce & Accountancy

syllabus, pattern of questions asked by UPSC and
broad preparation strategy are covered in this
book let.

5
 Mains Examination
Commerce & Accountancy
(500 Marks - Two papers of 250
marks each)
Paper I carries 250 marks and
consists of 6 subjects:
1. Financial Accounting
2. Cost Accounting
3. Income Tax
4. Audit
5. Financial Management
6. Financial markets &
Institutions
Detailed syllabus is given below: -
ACCOUNTING & FINANCE
PART I
Accounting, Taxation & Auditing
Financial Accounting
1. Accounting as a financial
Information System; Impact
of behavioral sciences.
2. Accounting Standards e.g.,
accounting for depreciation,
inventories, research and
Development Costs, Long
term construction contracts,
Revenue Recognition, Fixed
Assets, Contingencies,
Foreign Exchange
Transactions, Investments
and government grants. Cash
Flow Statement, Earnings
Per Share.
3. Accounting for Share
Capital Transactions
including Bonus Shares,
Right Shares, Employees
Stock Option and Buy-Back
of Securities.
4. Preparation and
Presentation of Company
Final Accounts.
5. Amalgamation, Absorption
and Reconstruction of
Companies.
Cost Accounting:
1. Nature and functions of Cost
Accounting. Installation of Cost
Accounting System.
2. Cost Concepts related to
Income Measurement, Profit
Planning, Cost Control and
Decision Making.
3. Methods of costing: Job Costing,
Process Costing, Activity Based
Costing.
4. Volume – cost – Profit
Relationship as a tool of Profit
Planning. Incremental Analysis
/Differential Costing as a Tool of
Pricing Decisions, Product
Decisions, Make or Buy
Decisions, Shut Down Decisions
etc.
5. Techniques of Cost Control and
Cost Reduction: Budgeting a Tool
of Planning and Control. Standard
Costing and Variance Analysis.
6. Responsibility Accounting and
Divisional Performance
Measurement.
Taxation:
1. Income Tax: Definitions; Basis
of Charge; Incomes which do
not form Part of Total Income.
2. Simple problems of
Computation of Income (of
Individuals only) under Various
Heads, i.., Salaries, Income
from Business or Profession,
Capital Gains, Income from
other sources.
3. Income of other Persons
included in Assessee’s Total
Income.
4. Set – Off and Carry Forward of
Loss.
5. Deductions from Gross Total
Income.
6. Salient Features/Provisions
Related to VAT and Services
Tax.
Auditing:
1. Company Audit; Audit related
to Divisible Profits, Dividends.
2. Special investigations, Tax
audit.
3. Audit of Banking, Insurance,
Non-Profit Organisations and
Charitable Societies/Trusts/
Organisations
Financial Management,
Financial Institutions and
Markets
Financial Management:
1. Finance Function: Nature, Scope
and Objectives of Financial
Management: Risk and Return
Relationship.
2. Tools of Financial Analysis: Ratio
Analysis, Funds-Flow and Cash-
Flow Statement.
3. Capital Budgeting Decisions:
Process, Procedures and
Appraisal Methods. Risk and
Uncertainty Analysis and
Methods.
4. Cost of capital: Concept,
Computation of Specific Costs
and Weighted Average Cost of
Capital. CAPM as a Tool of
Determining Cost of Equity
Capital.
5. Financing Decisions: Theories of
Capital Structure – Net Income
(NI) Approach, Net Operating
Income (NOI) Approach, MM
Approach and Traditional
Approach. Designing of Capital
structure: Types of Leverages
(Operating, Financial and
Combined), EBIT-EPS Analysis,
and other Factors.
6. Dividend Decisions and Valuation
of Firm: Waltr’s Model, MM
Thesis, Gordan’s Model Lintner’s
Model. Factors Affecting
Dividend Policy.
7. Working Capital Management:
Planning of Working Capital.
Determinants of Working Capital.
Components of Working Capital
Cash, Inventory and Receivables.
8. Corporate Restructuring with
focus on Mergers and
Acquisitions (Financial aspects
only)
Financial Markets and
Institutions:
1. Indian Financial System: An
Over view
2. Money Markets: Participants,
Structure and Instruments.
Commercial Banks. Reforms
in Banking sector. Monetary
and Credit Policy of RBI. RBI as
a Regulator.
3. Capital Market: Primary and
Secondary Market. Financial
Market Instruments and
Innovative Debt Instruments;
SEBI a Regulator.
4. Financial Services: Mutual
Funds, Venture Capital,
Credit Rating Agencies,
Insurance and IRDA.
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 Paper II also carries 250 Functions, Specialization Section B
marks and consists of four and Coordination.
6. Types of Organization Human Resources Mgt.
subjects: 1. Meaning, Nature, and Scope
1. Organisation Theory Structure Functional. Matrix
Structure, Project Structure. of HRM.
2. Organisation Behavior 2. Human Resource Planning,
7. Nature and Basis of Power.
3. Human Resource Job Analysis, Job Description,
Sources of Power, Power
Management Structure and Politics. Job Specification,
4. Industerial Relations 8. Managing Organizational 3. Recruitment Process,
Culture. Selection Process,
Syllabus in Detail: - Orientation and Placement,
Organ. behavior: 4. Training and Development
Section A 1. Meaning and Concept Process.
2. Individual in 5. Performance Appraisal and
Organisation Theory:
organizations: 3600 Feed Back.
1. Nature and Concept of
 Personality, Theories and 6. Salary and wage
Organisation; External
Determinants administration, Job
Environment Organizations
 Perception – Meaning and Evaluation,
Technological, Social,
Process. 7. Employee welfare,
Political, Economic and
 Motivation: Concepts, Promotions, Transfers and
Legal. Impact of Information
Separations.
Technology on Theories and Applications.
Organizational Design and 3. Leadership Theories and Industrial Relations:
Structure. Styles. 1. Meaning, Nature,
4. Quality of work Life Importance and Scope of IR,
2. Organizational Goals – (QWL): Meaning and its 2. Formation of Trade Unions,
Primary and Secondary impact on Performance,
goals, Single and Multiple Trade Union Legislation,
Ways of its Enhancement. Trade Union Movement in
Goals; Management by
Quality Circles (OC) – India. Recognition of Trade
Objectives.
3. Evolution of Organisation meaning and their Unions, Problems of Trade
Theory: Classical, Neo- Importance
Unions in India. Impact of
classical and Systems 5. Management of Conflicts
Liberalization on Trade Union
Approach. Modern in Organizations.
Movement.
Concepts of Organisation 6. Transactional Analysis.
Theory: 7. Organizational 3. Nature of Industrial
4. Organisational Design- Effectiveness, Disputes: Strikes and
Organisational Structure and 8. Management of Change. Lockouts, Causes of
Organisational Culture. Disputes, Prevention and
Organisational Design- Basic Settlement of Disputes.
Challenges;
4. Worker’s Participation in
 Differentiation and
Management: Philosophy
Integration Process;
 Centralization and Rationale, Present Day Status
Decentralization Process; and Future Prospects.
 Standardization / 5. Adjudication and Collective
Formalization and Mutual Bargaining.
Adjustment. 6. Industrial Relations in Public
 Coordinating Formal and
Enterprises,
Informal Organizations.
 Mechanistic and Organic 7. Absenteeism and Labor
Structures. Turnover in Indian
5. Designing Organizational Industries and their Causes
structures – Authority and and Remedies.
Control; Line and Staff 8. ILO and its Functions.

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 Details of Topper’s Marks in Mains 2022
Rank Name Optional Marks in Marks in Essay Written Interview Total
optional GS Marks total

1 Ishita PSIR 147+166 = 313 451 137 901 193 1094

Kishore

2 Garima Commerce 150+125 = 275 470 131 876 187 1063

Lohia

3 Uma Anthro 146+147 = 293 461 119 873 187 1060

Harathi

4 Smriti Zoology 148+133 = 281 456 145 882 173 1055

Mishra

5 Mayur Anthro 154+129 = 283 445 133 861 193 1054

Hazarika

Garima lohia got highest marks in general studies.

She did not invest much time in Commerce optional.
Paper I was done with minimum investment of time.
In paper II she did hard work and secured 150 marks.

During past 20 years Commerce candidates have secured more

than 20 Ranks with Commerce optional in top 30 such as:
Rank 2 by Garima Lohia, Rank 6 by Ravi Dhawan, Rank 9 by Arvind Agrawal,

Rank 10 by Khusboo Goyal, Rank 11 by Siddharth Jain, Rank 13 by Sonal Goyal,

Rank 13 by Namit Mehta, Rank 13 by Ronak Agrawal, Rank 15 by Shivani Goyal,

Rank 22 by Mandeep Kaur, Rank 22 by Saloni Rai, Rank 22 by Nitesh Kr Jain,

Rank 24 by Rahul Jain, Rank 24 by Abhishek Jain, Rank 25 by Shilpa Gorisaria,

Rank 25 by Shubham Agarwal, Rank 26 by Himanshu Nagpal, and so on.

All of these have been students of Rankers Classes. Students other than Rankers
Classes have also secured ranks in top 30 such as Rank 5, 18, 22.

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 Why to stay with your back-ground optional for IAS preparation:

13 strong reasons

1. All background optional subjects like commerce, management, economics have very high
success rate of more than 12.9%. Optional subjects like anthropology, political science, sociology,
and public administration that have success rate between 5% to 10% only. (UPSC Annual Reports)
2. How many commerce graduates have secured ranks in top 10, even in top 20 with other optional
like sociology or political science or public admin etc. ? Answer is nil. We did not hear about any
rank in even top 30 by commerce graduate with non-commerce optional.
3. If you are good in commerce, why take other optional. If you are average in commerce, it is
sensible to put extra efforts to be good in commerce, not huge efforts to prepare new optional.
4. With commerce optional more than 20 ranks have been secured by commerce back-ground
candidates during past 20 years including ranks 2, 5, 6, 9, 10, 11, 12, 13, 13, 13, 15, 18, 20, 21, 22,
22, 22, 24, 24, 25, 25, 26, 27, 30 and so on. From Ranker’s Classes itself a total of more than 270
ranks have been secured by commerce candidates with Commerce & Accountancy optional during
past 20 years including most the above top ranks in top 30. Garima Lohia secured Rank 2 last year.
5. Intellectually it is easy to reach kind of depth required by UPSC. You have studied background
subject for a minimum of 5 years. New optional can not equate that broad and deeper knowledge
and understanding. It is due to this reason that background optional candidates qualify early or
even in the first attempt. The new optional takes a minimum of 2 years to develop kind of depth and
understanding required by UPSC.
6. Emotionally you relate to Commerce & Accountancy from a younger age. It has become part of your
thinking DNA. Reading COMMERCE is akin to listening to your favorite music. Reading and writing
commerce is not stressful. Rather stress buster. New optional would require full attention to every
word and sentence. After reading the new optional you may feel exhausted. In commerce you may
read at para level by just reading headings in most of the topics. Read commerce in the evening, you
will feel fresh as you have read the subject of your emotions. Garima Lohia says that ‘After a day’s
study you need to read something which you are comfortable about. That is your background subject.’
7. Time consumption- new optional will take almost double the time required to prepare back-ground
optional. You can save around 50% of your time by taking commerce optional. Saved time can be
put for better preparation of General studies and essay. Garima Lohia did it. She got 2nd rank by
putting less time in commerce preparation and more time for GS. She has highest marks in GS.
8. Lower marks in new optional. Visit any telegram channel of sociology or political science or
anthropology. You will find more than 95% of candidates lamenting about poor score in these

9
 optionals. In first attempt, it is difficult to cross 200 in new optional. In commerce you can get 280
with good preparation, that too with self- study. Getting 280+ in new optional is tough task today( It
is possible only after good study + lots of writing practice of 2 years).
9. Candidates turning back to commerce: Every year many students take commerce after facing
difficulties in sociology and political science. Really grass is green from a distance. Every optional
looks easy until you read. Once you read 5-10 pages, you come to know the true nature of optional.
Candidates are suggested to read one or two chapters before finalizing any new optional.
10. Open vs limited competition: in optionals like sociology there is tough competition among
thousands of candidates. It is difficult to write something better than others. In commerce around
250 candidates appear. Limited competition is an edge. In Commerce, you can write better answers
and get more marks with lesser time and efforts.
11. Facing unexpected questions in new optional becomes out of the blue and high chances of getting
blank, particularly in compulsory short notes and analytical questions. There is no such issue in
Commerce. No one can be blank in even unique question. Even analytical questions can be
answered well in commerce. You comprehensive knowledge of commerce protects against risk.
12. Coaching dependence- new optional necessarily requires joining coaching to gain knowledge &
understanding. Coaching is not essential in back-ground optionals. One may prepare commerce by
self-study. Only test series may be joined for good answer-writing practice. Full course coaching in
commerce can help add more value to your existing knowledge and makes you more exam focused.
In new optional students have to struggle for 6-8 months to get basic understanding and little hold
over concepts. No such issue in background optional like commerce.
13. Government needs people from commerce and economics. By choosing a new optional you give
a message of lack of interest in commerce while facing interview. It is easy and natural to justify
taking commerce in mains. In new optional unexpected questions may be asked by the interview
board that may be difficult to answer.

Hence, it is suggested that choose your background optional and give

competition.

Do not unnecessarily borrow competition by taking new optional.

CA RS Agrawal

Ranker’s Classes

10
 Kind of questions asked in Commerce: Subject (Theory/Numerical) Marks
Paper I Section A:
Qn. 2023 2022 2021 2020 2019 2018 2017 Observations

1(a) FA (T)10 FA (T)10 FA (T)10 FA (T)10 FA (T)10 FA (T)10 FA (T)10 Observations:

Tax and Audit: only one

(b) Cost (T)10 Cost (T)10 FA (T)10 FA (T)10 FA (T)10 Cost (T)10 FA (T)10
compulsory short note.
Two short notes from
(c) Audit (T)10 Audit (T)10 Cost (T)10 Cost (T)10 TAX (T)10 TAX (T)10 Cost (T)10 tax in 2018.
FA and Cost: one and
(d) FA (T)10 Cost (T)10 TAX (T)10 TAX (T)10 Cost (T)10 TAX (T)10 TAX (T)10 two short notes
alternatively.
FA has greater frequency
(e) Tax (T)10 Tax (T)10 Audit (T)10 Audit (T)10 Audit (T)10 Cost (T)10 Audit
of two short notes.
(T)10

2(a) FA (N)20 FA (N)20 FA (N)20 FA (N)20 FA (N)20 FA (N)20 FA (N)20 FA Numerical only

(b) Cost (N)15 Cost (N)15 Cost (T)15 Cost (N)15 Cost (N)15 Cost (N)15 Cost (T)15 Mostly Cost Numerical.
Sometimes cost Theory

(c) TAX (T)15 TAX (T)15 TAX (T)15 TAX (T)15 TAX (T)15 TAX (T)15 TAX (T)15 Tax Theory Only

3(a) Cost (N)20 TAX (N)20 TAX (N)20 TAX (N)20 TAX (N)20 TAX (N)25 Cost (N)15 Tax(N) for past 5 years.
Cost(N) in 2023
(b) TAX (N)15 FA (T)15 FA (T)15 Cost (T)15 Cost (T)15 Audit (T)15 FA (T)15 Mix(T) of FA, Cost,
Audit. Tax(N) in 2023
(c) Audit (T)15 Cost (T)15 Cost (N)15 Cost (T)15 Cost (T)15 FA (T)10 TAX (N)20 Mix of T/N of FA, Cost,
Audit and Tax

4(a) FA (N)20 Cost (N)20 Cost (N)20 FA (N)20 FA (T)20 FA (N)20 Audit Numerical Mix all
(T)15
(b) Cost (T)15 FA (T)15 FA (T)15 Cost (T)15 Cost (T)15 Audit (T)20 Cost (T)15 Mix(T) of FA, Cost,
Audit
(c) TAX (T)15 Audit (T)15 Audit (T)15 Audit (T)15 Audit (T)15 Cost (T)10 TAX (N)20 Mostly Audit,
Tax(T) in 2023

T = Theory questions

N = Numerical Questions
 Paper 1 Section B FM & FMIs
Qn
No.

5(a) FM (T)10 FM (T)10 FM (T)10 FM (T)10 FM (T)10 FM (T)10 FM (T)10

Generally,
(b) FM (T)10 FI (T)10 FM (T)10 FM (T)10 FM (T)10 FM (T)10 FM (T)10
3 from FM
(c) FI (T)10 FM (T)10 FM (T)10 FM (T)10 FM (T)10 FM (T)10 FI (T)10
(d) FI (T)10 FM (T)10 FI (T)10 FI (T)10 FI (T)10 FI (T)10 FM (T)10
2 from
(e) FM (T)10 FM (T)10 FI (T)10 FI (T)10 FI (T)10 FI (T)10 FM (T)10 FMIs
6(a) FM (N)20 FM (N)20 FM (N)20 FM (N)20 FM (N)20 FM (N)20 FM (N)20 FM (N) only
(b) FM (N)15 FM (N)15 FM (T)15 FM (T)15 FM (N)15 FM (N)15 FI (T)15 Mix trend.
(c) FI (T)15 FI (T)15 FI (T)15 FM (T)15 FM (T)15 FM (T)15 FM (T)15 FM, FI
Mix

7(a) FM (N)20 FM (N)20 FM (N)20 FM (N)20 FM (N)20 FM (N)20 FM (N)20 FM Numerical

(b) FM (T)15 FM (N)15 FM (N)15 FM (N)15 FM (N)15 FM (N)15 FM (T)15 & Theory Mix
(c) FI (T)15 FM (T)15 FI (T)15 FI (T)15 FM (T)15 FM (T)15 FI (T)15 FM, FI
Mix

8(a) FM (N)20 FM (N)20 FM (N)20 FM (N)20 FM (T)20 FM (T)20 FM (N)20 FM Numerical

& Theory Mix
(b) FM (N)15 FI (T)15 FM (T)15 FM (T)15 FI (T)15 FI (T)15 FM (T)15
FM, FI
(c) FI (T)15 FM (T)15 FM (T)15 FI (T)15 FI (T)15 FM (N)15 FM (T)15
Mix
T = Theory questions
N = Numerical Questions

12
 Structure/Trend of UPSC questions in Paper II (All Theory)
Qn 2023 2022 2021 2020 2019 2018 2017 Observations
Section A
1(a) 10 OT 10 OT 10 OT These 5 short
10 OT 10 OT 10 OT 10 OT
notes are asked
(b) 10 OT 10 OT 10 OT 10 OT 10 OT 10 OT 10 OT from both OT &
(c) OB evenly. 2-3
10 OT 10 OB 10 OB 10 OB 10 OB 10 OB 10 OT short notes from
(d) 10 OB 10 OT 10 OT 10 OT 10 OB 10 OB 10 OB OT & 2-3 or rest
from OB.
(e) 10 OB 10 OB 10 OB 10 OB 10 OB 10 OT 10 OB 10 Marks Each
2(a) 20 OT 20 OT 20 OT 20 OT 20 OT 20 OT 20 OT Out of these 3
(b) questions,
20 OT 20 OB 20 OB 20 OB 20 OT 20 OT 20 OT
around 2/3rd
(c) 10 OB 10 OB 10 OB 10 OB 10 OT 10 OT 10 OT are asked from
OT and 1/3rd
3(a) 20 OB 20 OT 20 OT 20 OT 20 OT 20 OB 20 OB from OB till
2017.
(b) 20 OB 20 OB 20 OT 20 OT 20 OB 20 OB 20 OB
(c) 10 OB 10 OT 10 OB 10 OB 10 OB 10 OB 10 OB
Since 2018 OT:
OB ratio has
4(a) 20 OB 20 OB 20 OB 20 OB 20 OB 20 OB 20 OT been around
60:40.
(b) 20 OT 20 OT 20 OT 20 OT 20 OB 20 OB 20 OT
(c) 10 OB 10 OT 10 OT 10 OT 10 OB 10 OT 10 OT 50/84 OT

Section B
5(a) 10 HRM 10 HRM 10 HRM 10 HRM 10 HRM 10 HRM 10 HRM These 5 short
notes are asked
(b) 10 HRM 10 HRM 10 IR 10 IR 10 HRM 10 HRM 10 HRM from both HRM
(c) & IRs evenly. 3- 4
10 IR 10 IR 10 HRM 10 HRM 10 IR 10 HRM 10 HRM short notes from
(d) 10 IR 10 IR 10 HRM 10 HRM 10 HR/IR 10 IR 10 IR HRM & 1-2 or
(e) rest from IRs. 10
10 IR 10 IR 10 HRM 10 HRM 10 HRM 10 IR 10 IR Marks Each
6(a) 20 IR 20 HRM 20 HRM 20 HRM 20 HRM 20 HRM 20 HRM Out of these 3
(b) questions,
20 HRM 20 IR 20 IR 20 IR 20 IR 20 HRM 20 HRM
around 2/3rd
(c) 10 HRM 10 HRM 10 IR 10 IR 10 IR 10 IR 10 HRM are asked from
20 IR HRM and 1/3rd
7(a) 20 IR 20 HRM 20 HRM 20 HRM 20 IR 20 HRM from IRs.
(b) 20 IR 20 HRM 20 HRM 20 HRM 20 HRM 20 IR 20 HRM This ratio may
(c) be 60:40 and
10 HRM 10 IR 10 HRM 10 HRM 10 HRM 10 HRM 10 IR
50:50 as well.
8(a) 20 HRM 20 IR 20 HRM 20 HRM 20 HRM 20 IR 20 IR Hence,
prepare
(b) 20 IR 20 IR 20 IR 20 IR 20 IR 20 IR 20 HRM accordingly.
(c) `10 HRM 10 IR 10 IR 10 IR 10 IR 10 HRM 10 HRM 51/84 HRM

Green Cells: OT & HRM Orange Cells: OB & IRs

13
Overall Structure of the question Papers (by Total Marks)
Paper I Paper II
 Accounts 40-60-70  OT 100-120
 Cost 50-60-70
 Tax 40-50  OB 80-100
 Audit 30-35  HRM 100-120
FM 100-120-150
 IRs 80-100

 FIs 30-50
(out of 400)
(out of 400)

Numerical: 75 to 125 marks

Theory : 125 to 175 marks
(out of 250 marks answerability)

Type of questions asked:

1. Direct concept question. Write a short note on Expectancy theory
of motivation.
2. Analytical questions: three features
 Writing on positives and negatives of any concept and your final view.
 Comparison among concepts.
 Past-present-future of the concept or institution or practice.
3. Numerical questions in paper I.
4. Application based questions in paper II (rarely).
5. Current affairs-based questions in both the papers (20-50 marks
each paper, occasionally)

Further, theory questions(both papers) may be classified in two broad categories:

1. Explanatory: key terms in use: explain, elaborate, expound.

2. Critical analysis: key terms in use: examine, critically
examine, discuss, through light, evaluate, assess etc.

14
Level of difficulty of UPSC questions- three levels: (out of 400)
 40% (Minimum 20 %) very easy and direct questions such as issue of shares,
direct question on accounting standards, theories etc. in case UPSC is positive
about the optional, even 40% -50% of the questions may be easy.
 50% to 60% standard questions with honors level answering requirement such
as numerical questions on computation of taxable income, computation of NPV,
preparation of final accounts, critical review questions on theory etc.
 15% to 20% Tough questions may be asked. Generally it happens in case there is
very good result with the optional ( 2-4 ranks in top 20). Generally, 30-50-mark
tough questions are asked covering short notes in both the papers. Here tough
means: unexpected concept, associated concept or theory, interpretation of
current development, out of syllabus things.

Strategy for good score in commerce: General guidelines:

 Perfect conceptual and factual hold and writing practice of ‘triple tick mark’
 items. You may go for additional source or Google search over the topic.
 Good hold over ‘double tick mark’ items. Writing practice and Google
search may not be done.
 Memory of key points (3 to 4) in case ‘single tick mark’ 'items.
 Be aware about core idea in case of items marked ‘see’.
 Certain concepts and topics are covered for sense of security or
coverage only, marked by ‘x’. Skip reading thereof.
It is not advisable to leave any topic completely. Compulsory short notes are
asked from all the topics, in theory only. Selective preparation can be made
from within topics as per tick marks mentioned above.
Making notes- is advisable for:
 better hold over facts,
 faster and relevant revision
 Saving revision time and reducing exam day pressure.
Notes should be in synopsis form containing around 8-10% of the facts or key
ideas and points only.

15
How to make notes:
1. Mind map or flow-chart of facts or points.
2. Pictures may be jotted to remember facts. Acronyms may be written
to remember many facts.
3. Synopsis of concepts, features, significance, assumptions, merits,
demerits, examples: here following approach should be adopted:
• If para heading or point is easy that can be explained by you
logically, just write heading.
• In case heading is easy, but inside para there are many things,
facts, ideas prone to get missed from memory: write the key words
with heading of the para.
• If full para is important and highly factual, such as core propositions
of theory- a brief sentence should be noted.

Frequency of Revisions:

 One with classes

 One detailed revision before prelims, if time permits. Else revision of
key concepts or part of syllabus before prelims.
 One detailed +One brief revision after prelims. Alongside this
revision tests should be written( one page or section tests)
 Final touch, within three to five day prior to exam. More emphasis on
theory, formulae, key concepts, thinker propositions, and legal
provisions with triple tick marks. Things to be revised are identified as
the stage of brief revision.

Brief strategy for Paper I: (Target 150 – 180 marks) :

1. Exact Conceptual clarity and prefect hold over Meanings,

definitions, assumptions, thoughts, core propositions, formulae.

2. Analytical understanding of concepts, theories, practices, and

institutions. Such as critical understanding of CVP analysis, ABC, BEP, SEBI
Role, RBI Role. Analytical understanding means knowledge of positives-
negative-net conclusion; past-present-future of any institution etc.

3. Good hold/memory of facts. Three to five points each on Merits, time

lines, multiple ideas, limitations, demerits, critique, examples etc.
16
4. Practice of numerical questions- fast speed needed. Good speed not
sufficient. Possible through hold over concepts, treatments, formulae, flow
of calculations and frequent and challenging time bound answering
practice.

How much numerical questions should be practiced?

• Must solve 20% of the questions given in study material in proper
format (incl easy, standard, difficult/exercise, illustration & homework)
• Work out rest the 80 % in various alternate forms such as:
 Calculator based calculations and matching answer.
 Mind map of solution.
 Read question and move ahead if found easy to do.

Brief Strategy for PAPER II (Target 150 - 180):

1. Exact Conceptual clarity and prefect hold over Meanings,

definitions, assumptions, thoughts, core propositions, formulae.
2. Analytical understanding of concepts, theories, practices, and
institutions. Such as comparative understanding of various decision
making and goal setting approaches; critical analysis of Taylor’s Scientific
Management; Weberian Bureaucracy; Methods of dispute resolutions
and conflict handling etc.
3. Good hold/memory of facts. Three to five points each on Merits, time
lines, multiple ideas, limitations, demerits, critique, examples etc. Why
not all/most the facts?
4. Ability to apply concepts to practice or link with current affairs. Such
as how ‘would you create a culture of honesty in an organization
dented by corruption’? How would you design organisation structure
any newly established bank?
5. Answer writing practice of past year questions and questions given at
end of every chapter. How much?
• Write full length answers of around 20 % questions.
• Work out rest the 80% in various alter forms such as
 Skeleton of the answer in writing.
 Mind map or contemplation of answer to questions already
covered or easy to answer.
 Full reading of question, moving ahead in case of easy to do. Not
exceeding 20% of all the questions.
17
 Books in English Medium for Commerce and Accountancy:
Paper I:
1. Financial Accounting: DK Goel or TS Grewal or SM Shukla(go for
latest edition with Companies Act 2013)
2. Cost Accounting: M.L. Agrawal. or Mittal Maheshwari, Porwal.
3. Income Tax: H.C.Mehrotra, or Girish Ahuja, Singhania.
4. Audit: any book matching syllabus of UPSC with latest companies act
2013 provisions such as Aruna Jha.
5. Financial Management: R.P. Rustogy or Khan & Jain
6. Financial Markets and Institutions: Khan and Jain or L.M. Bhole + focus
on current affairs as per syllabus

Paper II
1. Organisation Theory and Behaviour: BP Singh & TN Chhabbra + SP Robbins
2. HUMAN RESOURCE MANAGEMENT: CB Gupta
3. Industrial Relations: Memoria and Memoria or CS Venkataratnam

• Current affairs in Commerce: The Hindu: The Opportunities page (Wednesday)

and Business Page. No need to see Economic Time for commerce. It is too heavy
and unnecessary.

If above books are not available, one can go for other books containing UPSC syllabus

One Stop Solution: Rankers Classes Study Material+ Green font Material+ Class Notes

For Most Comprehensive, Qualitative, and focused Coverage:

Join Ranker’s Classes online or face to face classes.

18
 About Rankers’ Classes
Since its establishment in 2002, Rankers Classes is dedicated to Commerce & Accountancy
Optional in Civil Services. CA RS Agrawal is director, academic head, and main faculty at
Rankers Classes. Alongwith having professional degrees of CA and CS, RS Agrawal appeared
UPSC(Mains) four times till 2001.

Focus and dedication to the subject provided 100% result within two years with Mr. Vishnu
Kumar and CA Rahul Jain both qualifying Civil Services in the year 2004. Since then, Rankers
Classes has delivered dozen of Ranks in top 30 including: Rank 2 by Garima Lohia, Rank 6 by
Ravi Dhawan, Rank 9 by Arvind Agrawal, Rank 10 by Khusboo Goyal, Rank 11 by Siddharth
Jain, Rank 13 by Sonal Goyal, Rank 13 by Namit Mehta, Rank 13 by Ronak Agrawal, Rank
15 by Shivani Goyal, Rank 22 by Mandeep Kaur, Rank 22 by Saloni Rai, Rank 22 by Nitesh
Kumar Jain, Rank 24 by Rahul Jain, Rank 24 by Abhishek Jain, Rank 25 by Shilpa
Gorisaria, Rank 25 by Shubham Agarwal, Rank 26 by Himanshu Nagpal, and so on.

1. Commerce Foundation Course (CFC) for detailed and focused preparation

2. Commerce Advanced Course (CAC) for time saving and focused preparation.

3. Intensive Test Series to write chapter, subject, and comprehensive tests

4. Enriched Test Series to write Subject Tests and Comprehensive Tests
5. Standard Test Series to write Sectional Tests and Comprehensive Tests
6. Perfection in Numericals to develop excellence in numericals of Paper I

7. Postal Course for study material on Commerce

8. Interview guidance.

19
 Know us more:-

CA RS AGRAWAL IS
Our Results Follow us:-
DIRECTOR, ACADEMIC
Ranks in top 30 including
HEAD, AND MAIN Ranks 2 by Garima Lohia,
FACULTY AT RANKERS
CLASSES. ALONGWITH
Rank 6 by Ravi Dhawan, Rank
HAVING PROFESSIONAL 9 by Arvind Agrawal, Rank 10
DEGREES OF CA AND CS,
RS AGRAWAL APPEARED
by Khusboo Goyal, Rank 11
UPSC(MAINS) FOUR by Siddharth Jain, Rank 13 by
TIMES TILL 2001.
Sonal Goyal, Rank 13 by
Namit Mehta, Rank 13 by
Ronak Agrawal and so on