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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 –

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 TopicPara NumberPage NumberIllustration Number with Page Number
Annuity Method3.45.12Illustration Number – 4, Page Number – 5.12
Sinking Fund Method3.55.13 Illustration Number – 5 & 6, Page Number – 5.15 & 5.17
Test your knowledge – Theory question 2(ii), Page Number – 5.29
Provision for Repairs85.26 Illustration Number – 14, Page Number – 5.26

Official Link published by ICAI can be accessed from below –

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

Jai Hind, Vande Mataram
Team CA Study

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