CA Inter Advanced Accounting Books for ICAI 2026 Exams | Best Book for Practice & Revision
Advanced accounting is the most important subject in the CA Inter course. This subject requires a high understanding of concepts and practical applications. It is essential for each student to choose the right study material books for their preparation, containing the ICAI latest material. The best reference study books provide students with simple topics from complex topics and are aligned with the ICAI syllabus and exam pattern. In the list of top 10 recommended books for advanced accounting, we have mentioned resources authored by top faculty and trusted publishers that help students to excel in exams, practice different problems, and improve the style of presenting the answers to score high in the exams
Thus, it requires resources that explain these topics with clarity, depth, and practical examples. The mentioned books give detailed explanations of complex transactions such as intercompany elimination, goodwill calculation, and foreign currency translation. It is important to learn the rules of IFRS and GAAP for global compliance. These ten books help you to understand real-life situations and manage advanced accounting concepts.
TOP 10 RECOMMENDED BOOKS FOR ADVANCED ACCOUNTING
Here are the 10 top recommended books that are known to every CA and CS. These continue to guide students through the challenges of advanced accounting, even in 2025.
1. Advanced Accounts – Vol. 1 & 2 by M.C. Shukla, S. C. Gupta, and T.S. Grewal
First, we have Advanced Accounts by M.C. Shukla and others. This textbook is the foundation for Indian accounting students. It gives you a clear understanding of every important topic, like corporate accounting, amalgamation, and consolidation. The authors bring deep explanations, making complicated topics very easy so that each student can grasp the concept easily. Each chapter has practical examples and exercises that will help you understand real-world scenarios. This book is commonly used for professional courses like CA and CMA, and it is really reliable material as it covers every concept of the subject. This book helps the students to get ready for the CA exams. Its structured format allows students to study the topics effectively and understand them better.
2. Taxman Student Guide to Accounting Standards by Dr D.S. Rawat
This is the best advanced accounting book that covers all 21 accounting standards relevant to CA exams. This book structure includes a career introduction to accounting standards and their importance. It details sections relevant to paper 1 (accounting) and paper 5 (advanced accounting) of the CA syllabus. The topics range from the framework for preparing financial statements to specific standards like AS-1 and AS-22. Each chapter includes questions from past exams to help students in their preparation. Dr Rawat is an experienced chartered accountant and has taught CA students for over 35 years. His alignment with international financial reporting standards brings indian accounting standards together.
3. Advanced Accountancy I by R.L. Gupta and M. Radhaswamy
In this book, a wide range of important topics are covered by RL Gupta and M. Radhaswamy, which are really helpful for mastering the accounting principles. This book focuses on financial accounting and financial statements topics in the very first section, involving foundational concepts such as accounting, principal double entry, bookkeeping, and income measurement. Students can learn about the preparation of financial statements, such as balance sheets and trial balance sheets. This book also includes bank reconciliation statements, inventory valuation, bills of expenses, and final accounts. The second section contains advanced accounting topics, exploring complex areas such as depreciation, accounting, investment accounts, departmental accounting, and accounting standards. The final section addresses partnership accounting, covering key concepts related to profit sharing, admission of partners, and dissolution of partnerships. The whole book is detailed with explanations, illustrations, and numerous exercises to enhance student understanding of both theoretical and practical aspects of advanced accountancy.
4. Corporate Accounting by S.P. Jain and K.L. Narang
This book is crucial for aspiring Chartered Accountants at the primary level. Each chapter discusses concepts and details meeting the syllabus requirements of various universities and professional institutes. The book also integrated new problems and illustrations based on recent examination questions. Each of the chapters has graded problems, including objective-type, short, and long answer-type questions to clarify complex topics.
5. Financial Accounting by P.C. Tulsian
This well-structured book is authored by CA & Dr. P.C. Tulsian, Tushar Tulsian, and CA Bharat Tulsian. The book is an essential requirement for B.Com students who aspire to be a CA or a CMA someday. It has an introduction to fundamental accounting concepts, principles, and processes in simple language. The key topics in the books are revenue recognition and accounting for property, plant, and equipment. It also includes financial statements. The authors have taken up a "teach yourself" approach to help you understand complex topics by dividing difficult topics into small, manageable parts that help the students understand the whole explanation.
6. CA Ravi Kanth Miriyala Accounting Standards Made Easy
This comprehensive accounting book is made for CA Inter students. The book is divided in such a way that each student can understand the concepts easily, and they can access it easily. It covers a large number of topics crucial for mastering advanced accounting, including partnership accounts, company accounts, and various accounting standards. Each chapter is structured to facilitate gradual learning, initiates with fundamental concepts, and progresses to more difficult topics. The book covers illustrations and practical examples to help in understanding and retention of information.
7. Financial Reporting and Financial Statement Analysis for Calcutta University
This comprehensive book by Mohammed Hanif and Amitabha Mukherjee has it all. The content is organized systematically, covering theory, illustrative examples, and empirical problems. This book covers various topics on business and economics, including personal finance, finance, and corporate finance. Each chapter in this book includes the previous year questions with solutions and problems from recent professional exams. This structured book is handwritten for professionals and students in CA, CS, and CMA scenarios.
8. Dr. D.S. Rawat Taxmann Students Guide to Accounting Standards
This is the best for CA exams as it covers all 21 accounting standards. This book structure includes a career introduction to accounting standards and their importance. In the syllabus of the ICAI, paper one and paper five, namely accounting and advanced accounting, respectively, relevant sections are involved in detail, ranging from the framework for preparing financial statements to specific standards like AS-1 and AS-22. Dr. DS Rawat Taxmans book includes questions from each chapter, helping the students to get them prepared for their exams.
9. First Lessons in Accounting Standards by M.P. Vijay Kumar
This book brings the foundational test for students and professionals aiming to understand the essential principles of accounting practices. The M.P. Vijay Kumar book covers the most important subjects like AS2, where topics like valuation of inventories and the Revenue Recognition principle are discussed. He also discusses the importance of the IFRS Foundation in promoting global standards for financial transparency and accountability. Kumar work provides an important resource for gaining a clear understanding of these concepts, covering many different types of accounting standards that guide the preparation and presentation of financial information.
10. Padhuka Students Handbook On Advanced Accounting
The book was released on January 1, 2021, providing a complete understanding of the concepts of advanced accounting. It focuses on conceptual understanding and also on practical application, covering complex topics such as mergers and acquisitions. It also includes solved past-year questions.
Conclusion
In conclusion, it is important to choose the right books to prepare for the CA, CS, and CMA exams. The books mentioned above provide a unique lens on complex topics like consolidation, mergers, and international standards. If you do not follow the whole book carefully, then make sure you keep remembering the main principles in your mind. You will find that these methodologies can improve your knowledge in different ways. Do not forget the journey of becoming a CA has not ended yet. You may discover something next that could change the course of your accounting career.
FAQs
- Which book is best for CA Inter Advanced Accounting?
Always prefer ICAI study material as your base, which covers everything, including the syllabus and exam pattern provided by ICAI. You may also choose some of the latest reference books for extra practice.
2. Is ICAI material sufficient for studying, or do I use reference books to prepare myself for my exams?
Well, it is not very important that you have to make use of reference books; however, they are very useful for understanding tricky topics or concepts in easy explanations and solved questions. They are best for students who prefer to do self-study.
3. Are teachers notes sufficient, or do I also use books?
Both are equally important because class notes are helpful for revision, whereas books are helpful for concept clarity and full syllabus coverage. It is very important to go through at least one detailed book along with your notes.
4. Name the books that have the most exam-oriented questions for the CA Inter Advanced Accounting subject.
There are books that contain previous paper questions, RTPs, and ICAI-style problems, and the books names are MP Vijay Kumar, DS Rawat, PC Tulsian, etc.
5. How can I prepare for exams using these books effectively?
Try not to read them all! Select **one primary book + ICAI content**, highlight key points, and make numerous revisions. More important than the quantity of books is consistency.
Source: The information mentioned above is collected from the official ICAI website by our content strategist experts.
