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link to this site : https://www.carockers.org/2013/08/ipcc-hire-purchase-stock-and-debtors-method-exclusion.html#.UxK3YuOSxn0
Query: Whether 'Hire Purchase Trading Account, Stock and Debtors method' is applicable/relevant for IPCC November 2013 exams or not?
Board of Studies has decided to exclude the Hire Purchase Trading Account (Debtors) Method and Stock and Debtors Method in the Paper 1: Accounting Study Material at Intermediate (IPC) level. The new books to be released in this July will not have these topics.
ICAI has also made it clear that, these topics are no longer relevant and they are in wrong motion. By this, it is quite clear that ICAI has decided to exclude these topics with immediate effect and so will not be applicable for the upcoming November 2013 exams.
The same has been confirmed to a query in e-sahaayata.
You can view the original announcement by ICAI below:
Accordingly, students of Intermediate (IPC) Course Paper 1: Accounting are advised not to read the said methods given in Chapter 11 of the Study Material. The details of the relevant page nos. and questions in the Study Material and Practice Manual of July, 2013(Revised edition) respectively, are given hereunder:
Volume I Study Material Para 9 to 13 and Illustrations 13 to 19 in Page nos. 11.32 to 11.50
Volume II Practice Manual Questions 1, 2, 4, 5, 6, 7, 8 and 10 in Page nos. 11.1 to 11.20
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