INDUSTRIAL TRAINING Industrial training is a training scheme by which a student can undergo practical training within an industrial undertaking having specified amount of fixed assets or turnover or paid-up share capital. Industrial training can be commenced during the last one year of articleship. Industrial training can be performed in financial, commercial, industrial undertakings with minimum fixed assets of Rs.1 crore; or minimum total turnover of Rs. 10 crore; or minimum paid–up share capital of Rs. 50 lakhs; or such other institutions or organization as may be approved by the Council from time to time. The period of industrial training may range between 9 months and one year. The industrial training shall be received under the member of the Institute. An associate who has been a member for a continuous period of at least 3 years shall be entitled to train one industrial trainee at a time and a fellow shall be entitled to train two industrial trainees at a time. There should be an agreement of industrial training in Form No.104. On satisfactory completion of industrial training by an articled/audit assistant, the associate/fellow member under whom the industrial training is received shall issue a certificate in Form No.105 in respect of the training undergone. It is required to maintain details of work undertaken and training received in the prescribed format. PURSUANCE OF OTHER COURSE OF STUDIES With the permission of the Institute a student can pursue one course of study at a time. A student has to submit application in Form No.112 to the appropriate Regional Office of the Institute seeking permission to pursue other course of study within one month of joining the college/ course. The office shall grant permission within one month from the date of receipt of Form No.112. The students currently undergoing graduation or other course under general permission, which was given for the articled assistant to pursue graduation course, is withdrawn; therefore should obtain the permission within six months of issuance of new guidelines. The students shall, however, be permitted to complete the academic session/year currently undergoing and switch over to correspondence courses or institutions where no classes are conducted between 11.00 a.m. and 5.00 p.m. on any working day. The certificate portion in Form No.112 indicating college timings etc. shall be countersigned by the Principal of the college with the seal and stamp of the college and also indicating the telephone number and full address of the college. In the event of breach of these guidelines and not taking permission as required, the articles already undergone shall be derecognised for such period as the Institute may decide. In case an articled assistant is found not undergoing articles in the manner prescribed, he shall be debarred from appearing in the exam up to 3 consecutive exams besides cancellation of such period of articles. The concerned member who allowed him to be such an articled assistant be subject to punitive action besides withdrawing either partly or fully his eligibility to train articled assistant. In Peer Review, the Reviewer be required to verify whether training is imparted to the articled assistants in the manner prescribed.
CA Articleship: How to perform well and succeed_Part-I
Dear All,
Please find below few tips in my style regarding how to perform well during CA Articleship. Hope these tips would be off some help during your tenure as an article assistant. This article is completely based on my personal observation and no reference taken from anywhere.
1. First understand the concept of articleship and analyse the need to introduce the system of articleship in Chartered Accountancy course.
2. Calculate the necessity of articleship in your life keeping in view your future growth. This calculation is possible only if you follow point no. 1 honestly.
3. After doing UNC analysis [Understand + Need to introduced + Calculate] in accordance with point No. 1 and 2, decide your future course of action i.e. level of seriousness, mental involvement and commitment during your tenure as an article assistant.
4. Keep one “observation diary” with yourself. Note down all the important observations made during your articleship period.
5. As per my personal understanding some special observations, which can play the decisive role in shaping your career as Chartered Accountant, include the following:
i.) Overall attitude of your learned Principal and senior staff. ii.) Approach of your principal towards clients. iii.) Adoption of new amendments by your firms along with their successful implementation.
6. Try and interact more and more with your learned seniors. More interaction with your seniors and Principal will help you to gain confidence and improve your personality along with ability to deal with any kind of catastrophe situation.
7. Give more importance to your career as a successful Chartered Accountant along with continued future growth instead of your personal ego or office politics.
8. Keep yourself updated with latest amendments. If you follow this suggestion honestly then am sure that this point will surely reflect your strong attitude towards professionalism and your desire to a part of prestigious ICAI.
9. The best method to win the confidence of your Principal and other learned seniors is to work very hard with utmost sincerity and dedication. Always follow your ethics and maintain the hard work.
10. Always remember that articleship is a great and once in a life time opportunity directly connected with your future growth and enhancement of your knowledge and other professional skills. So make full use of this great opportunity.
11. Let me tell you one of my experience cum source of my tiny knowledge -Five years back my first boss told me this renowned saying “I learnt because I wanted my boss to teach me” and believe me friends rest is a history. I hope you got the message.
12. Stay away from any kind of office politics and do not engage yourself in useless activities like gossiping etc. as this would be seriously considered as waste of your and firm’s precious time. Always remember time is money.
13. Try, understand and observe the true meaning of -- Discipline in your work + corporate etiquette + positive approach and adopt this meaning to convert yourself in to a super human being and a true professional.
14. Always remember you guys are future professionals so there is no need to take the things personally and follow the policy of “just move with the flow”. Dil pa mat la yaar…
15. Always prefer and maintain good, healthy and long lasting relations with everyone i.e. with your Principal, client or fellow professional. This is one of the essential pre-condition to be a successful professional.
16. Try, improve and workout on your communication skills, dressing sense and ability to learn things quickly. Kindly consider all these things very important in order to make yourself adaptable with corporate environment.
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