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