This study aimed at investigating the impact of reference groups and school location on academic achievement of secondary financial accounting students in Adamawa State. To achieve this, the study had four objectives, four research questions and four hypotheses. The study used survey as a research design. The population of the study comprised of408 senior secondary schools, housing 129,177 teachers and students respectively. Out of this population, 6709 were teachers while 122,468 were students respectively. The sampled of the study was based on five educational zones in the State. These zones are Yola, Mubi, Gombi, Numan and Ganye zones.Under each zone a sampled of ten (10) senior secondary schools were purposively selected using non-proportional sampling technique. This gave a total of fifty (50) schools selected as sampled for the study. Furthermore, from these sampled schools, fifty-four (54) financial accounting teachers were selected. This is because, some secondary schools were not offering financial accounting subject and without qualified accounting teachers. For that reason, It was only those schools offering financial accounting subject with qualified teachers were selected.Again, only SSII students were sampled for the study. A total number of Seven Hundred and Ninety-Four (794) students were selected for the study. This made up a total sampled of the study to be eight hundred and forty-eight(848) respondents comprises but teachers and students respectively. Structured Questionnaire were used as an instrument for data collection. The questionnaireswere structured into four liker scale. The collected data were analyzed using both descriptive and inferential statistics. The descriptive statistics of mean and standard deviation were used to answer the research questions while inferential statistics of regression analysis were used to test the null hypotheses at 0.05 level of significant. The study revealed that the reference groups and school location had a positive impact on academic achievement of secondary financial accounting students in Adamawa State, Nigeria. The study therefore, recommended and one of the recommendations was that Parent Teachers’ Association (PTA) should conduct regular public awareness on the role of parental background in the education of their wards as it was found useful in promoting students’ academic achievement.