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Best Books for SSC CGL Finance and Economics

Updated On -

Mar 3, 2020

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Anil Tigga

University Data Specialist

Assistant Audit Officer is the only Gazette officer post through SSC CGL. It is a Group-B Gazette Officer Post. Similar to other posts, candidates to this post are recruited through SSC CGL. However, candidates applying for Assistant Audit Officer are required to appear for additional Statistics and General Studies paper which includes Finance and Accounting along with Quantitative Ability and English Comprehension in SSCCGL Tier II.

Staff Selection Commission (SSC) conducts Combined Graduate Level Examination which includes the post of Assistant Audit Officer(AAO) in Indian Accounts Department under CAG in the scheme of Combined Graduate Level (CGL) Examination as well as Accountant/Junior Accountant in C&AG Offices and CGA.

Papers Subjects Questions Marks
4 General Studies(Finance and Economics) 100=(60+40) 200
3 Statistics 100 200
2 Quantitative Abilities 100 200
1 English Language & Comprehension 200 200

Paper-4 will be for those candidates who have applied for the post of Assistant Audit Officer (AAO) in C&AG. General Studies examination comprises of two parts, one is Finance and Accounts comprising of 40 questions carrying 80 marks and other is Economics and Governance comprising of 60 questions carrying 120 marks.

Finance and Accounts Syllabus

Finance and Accounts is the first part of the general studies paper which is of 80 marks. Following are the topics covering the syllabus for the Finance and Accounts:

Financial Accounting

Topics important from the financial accounting subject is nature and scope, limitations of financial accounting, basic concepts and conventions, generally accepted accounting principles.

Basic concepts of Accounting

Few of the important topics to cover the basic concepts are Single and double entry, Books of original Entry, Bank Reconciliation, Journal, Ledgers, Trial Balance, Rectification of Errors, Manufacturing, Trading.

Other topics includes Profit & loss Appropriation Accounts, Balance Sheet, Distinction between Capital and Revenue Expenditure, Depreciation Accounting, Valuation of Inventories, Non-profit organisations Accounts, Receipts and Payments and Income & Expenditure Accounts, Bills of Exchange, Self Balancing Ledgers.

Finance and Accounts Important Topics with Preparation Tips

With a few preparation tips, one can easily score good marks in this part of the paper. Following tips must be followed by the aspirants as guidance for better preparation:

  1. One must not go deep in the topics. Reading basic definitions and it's characteristics is enough.
  2. Numerical is an important part of accounting section and must be practiced thoroughly.
  3. Understanding the rectification of error can be difficult for the aspirants from the non accounting background, thus, one must try understand the basics of this chapter.
  4. One must stick to the official syllabus of SSC while preparing for this paper.

Book Recommended for Finance and Accounts

The book recommended for Accounting and Finance is Bankers’ by Macmillan Education

Economics and Governance Syllabus

Economics and Governance is the second part of the general studies paper which is of 120 marks. Following are the topics covering the syllabus for the Economics and Governance:

  1. Comptroller & Auditor General of India:

Constitutional provisions, Role and responsibility

  1. Finance Commission:

Important topics from Finance commission are its role and functions, basic concept of Economics and introduction to Micro Economics, definition, scope and nature of Economics, methods of economic study, central problems of an economy, production possibilities curve

  1. Theory of Demand and Supply

It includes topics such as Meaning and determinants of demand, Law of demand and Elasticity of demand, Price, income and cross elasticity, Theory of consumer’s behaviour-Marshallian approach and Indifference curve approach, Meaning and determinants of supply, Law of supply and Elasticity of Supply.

  1. Theory of Production and cost

Meaning and Factors of production, Laws of production- Law of variable proportions and Laws of returns to scale.

  1. Forms of Market and price willpower in different markets

Various forms of markets-Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly ad Price determination in these markets

  1. Indian Economy

Topics covered in Indian Economy are nature of the Indian Economy, role of different sectors-role of Agriculture, Industry and Services-their problems and growth, National Income of India-Concepts of national income.

Other topics include Different methods of measuring national income, Population-Its size, rate of growth and its implication on economic growth, Poverty and unemployment- Absolute and relative poverty, types, causes and incidence of unemployment, Infrastructure-Energy, Transportation, Communication

  1. Economic Reforms in India:

Economic reforms since 1991, Liberalisation, Privatisation, Globalisation, Disinvestment

  1. Money and Banking:

Monetary/Fiscal policy- Role and functions of Reserve Bank of India; Functions of commercial Banks/RRB/Payment Banks Budget and Fiscal deficits and Balance of payments Fiscal Responsibility and Budget Management Act, 2003

Economics and Governance Important Topics for Preparation Tips

One must give more emphasis in macro economics on understanding Graphs related concepts ( for example graph on Marginal cost, Shut down point, demand and supply, monopoly, oligopoly, monopolistic, perfect competition curve in short as well as long run, PPC, budget line, IC )

Book Recommended for Economics and Governance

The main book recommended for the preparation of Economics and Governance is Indian Economy by Ramesh Singh

Finance and Economics Previous year Cut off

The following table represents the cut off for different post with category wise bifurcation.

Department/Post UR OBC SC ST
Accountant/Junior Accountant C&AG Offices 426.75 410 363.75 348.25
Accountant/Junior Accountant CGA & others - 408 361.75 347.25
Auditor in C&AG Offices 430.25 412.5 368 351.5
Auditor in Offices under CGA & Others 432.5 421 378.75 369

*The article might have information for the previous academic years, please refer the official website of the exam.