Exclusions from CA Foundation : Principles & Practice of Accounting – New ICAI Announcement

CA Study

Hello Everyone,

Please find below the text of the notification issued by ICAI today dated 18 July 2019 for CA Foundation Students –

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Exclusion of Annuity Method, Sinking Fund Method and Provision for Repairs from

Chapter 5 of Paper 1: Principles and Practice of Accounting Foundation Course

It has been observed that ‘Annuity method’, ‘Sinking Fund Method’ and ‘Provision for Repairs’ given under Chapter 5: ‘Concept and Accounting of Depreciation’ of Study Material of Paper 1: ‘Principles and Practice of Accounting’ at Foundation level are not relevant in the current scenario.

Accordingly, students are advised not to read the following paras and illustrations/questions of the Study Material (for November, 2019 Examination and onward):

Sub Topic	Para Number	Page Number	Illustration Number with Page Number
Annuity Method	3.4	5.12	Illustration Number – 4, Page Number – 5.12
Sinking Fund Method	3.5	5.13	Illustration Number – 5 & 6, Page Number – 5.15 & 5.17 Test your knowledge – Theory question 2(ii), Page Number – 5.29
Provision for Repairs	8	5.26	Illustration Number – 14, Page Number – 5.26

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Official Link published by ICAI can be accessed from below –

https://resource.cdn.icai.org/55868bos45247.pdf

That’s all for now. Stay Connected for more such authentic updates.

Jai Hind, Vande Mataram
Team CA Study