18 Recommended Books For Financial Accounting Subject Of BAF Course

In BAF course, Financial Accounting is a subject taught in First year. Financial Accounting which is also known as Financial Accountancy involves summary, analysis and reporting of financial transactions related to the business. In this subject, you will learn about preparing financial statements for the suppliers, banks, government agencies, business owners and other stakeholders. Financial statements are prepared in order to make proper financial decisions. Financial accounting helps to prepare the accounting information for the stakeholders outside the organization and whereas management accounting helps managers to make the decisions to manage the business. 

The objectives of financial accounting are: systematic recording of transactions, knowing the results of business operations, knowing the profits or loss of business, providing financial information to users for decision making and knowing the solvency position of the enterprise.




  1. Introduction to Accountancy by T. S. Grew al, S. Chand and Company (P) Ltd., New Delhi

  2. Advance Accounts by Shukla & Grewal, S. Chand and Company (P) Ltd., New Delhi

  3. Advanced Accountancy by R. L Gupta and M Radhaswamy, S. Chand and Company (P) Ltd.,

  4. New Delhi

  5. Modern Accountancy by Mukherjee and Hanif, Tata Mc. Grow Hill & Co. Ltd., Mumbai

  6. Financial Accounting by Lesile Chandwichk, Perentice Hall of India Adin Bakley (P) Ltd.

  7. Financial Accounting for Management by Dr. Dinesh Harsalekar, Multi-Tech. Publishing Co. Ltd., Mumbai.

  8. Financial Accounting by P. C. Tulsian, Pearson Publications, New Delhi

  9. Accounting Principles by Anthony, R.N. and Reece J.S., Richard Irwin Inc.

  10. Financial Accounting by Monga, J.R. Ahuja, Girish Ahujaand Shehgal Ashok, Mayur Paper

  11. Compendium of Statement & Standard of Accounting, ICAI.

  12. Indian Accounting Standards, Ashish Bhattacharya, Tata Mc. Grow Hill & Co. Ltd., Mumbai

  13. Financial Accounting by Williams , Tata Mc. Grow Hill & Co. Ltd., Mumbai

  14. Company Accounting Standards by Shrinivasan Anand, Taxman, New Delhi.

  15. Financial Accounting by V. Rajasekaran, Pearson Publications, New Delhi.

  16. Introduction to Financial Accounting by Horngren, Pearson Publications.

  17. Financial Accounting by M. Mukherjee.M. Hanif. Tata McGraw Hill Education Private Ltd; New Delhi

  18. Financial Accounting a Managerial Perspective, Varadraj B. Bapat, Mehul Raitha, Tata McGraw Hill Education Pvt. Ltd., New Delhi


financial accounting

By BAF team

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