ICAI announces changes in the syllabus of Foundation course

Last updated: 22 July 2019

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 onwards):

Sub-topic		Para number	Page number	Illustration number with page number
Annuity method		3.4	5.12	4	5.12
Sinking Method	Fund	3.5	5.13	5 and 6	Page 5.17	5.15	&
				Test your knowledge - Theory question 2(ii)	5.29
Provision Repairs	for	8	5.26	14	5.26