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 –
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