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

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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 –

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Jai Hind, Vande Mataram
Team CA Study


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Watch this short video for May 2022 CA Final Exams covering full strategy to score Exemption in Audit with full plan to prepare with appropriate study materials and revision strategy before exams! All the best 🙂

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