Please help me vv urgent - icwai

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kishore (Querist)
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06 August 2012 Sir, I Joined ICWAI INTER and working in Banking Sector as from 5 years.

my doubt is Can I take exemption of articleship of 3 years.

is there any process that, articleship of 3 year can be reduced to 1 or 2 years.

please help me in this regard

Pralay Chakraborty

Pralay Chakraborty (Expert)
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06 August 2012 Scheme for Practical Training to ICWAI students
With effect from 1st day of January 2008, every registered student under the Revised syllabus 2008 shall be required to undergo practical training for a period of 3 years on whole time basis to the satisfaction of the Council in any one or more of the following organizations given under clause 2 and in the areas given in clause 3 for the purpose of recognition for training.

A student working in any of the organizations specified in clause 2 in the functional areas given in clause 3 below shall be exempted from training.

1. Objectives of the Practical Training
To develop among the students the necessary skills required to apply theoretical knowledge of cost and management accounting to practical situations in different professional fields

Exposure to environments under which different organizations work

Providing on-job experience of practical aspects of Cost and Management Accounting

Developing disciplined attitude required for a professional

Awareness on ethical values in professional work

2. Organizations recognized for Training
Student working as Trainee will be hereinafter referred to as Cost & Management Trainee. The Cost & Management Trainee shall undergo practical training under (1) Practicing Cost Accountant or (2) a firm of Cost Accountants or (3) in any of the following organizations under a professionally qualified person. The organizations other than the firms of professionals will be recognized for the purpose of training of the students if its annual turnover is Rs 5 crores or more. The authority under which the training is undertaken is referred to as Principal hereinafter.

Central/State Government / Semi-Government / Public Utilities
Banks and other Financial Institutions
Insurance Company
Public Sector Unit
Public Limited Company
Private Limited Company
Information Technology Sector
KPO / BPO
Stock Exchange
Universities, Management Institutes and any other educational institute
Limited Liability Partnership Firm
Management Consultancy Firms
NGO
Co-operative societies engaged in Banking, Manufacturing
Any other institution as approved by the Council
3. Recognized areas for Training:
Management Accounting
Cost Accounting
Financial Accounting
Financial Management
Auditing
Regulatory compliances
Direct Taxation
Indirect Taxation
Corporate Laws, Industrial Laws, Commercial Laws
Systems Analysis, Information Technology (including ERP system)
Project Management
Banking Operations
Insurance
Valuation
Financial Services
Teaching in Finance, Accounts, Costing, Taxation, Management and subjects covered in ICWAI Syllabus (other than visiting faculty)
Management Consultancy Services as defined in appendix 6 under Regulation 111 of CWA Regulation, 1959
Any other areas approved by the Council
4. Procedure for Registration of Trainees
A student required to undergo training may arrange training on his own or may seek assistance from the Institute for the arrangement of Training. The Institute will maintain information on different organizations and firms interested to train the students and their respective areas of training to facilitate placing of the students for training.
The registration of trainees with the Institute shall be done by the student within a period of 45 days from the date of execution of the deed, arrangement of training in an organization or employment, as the case may be. In case of students already employed, the period of 45 days will be counted from the date of registration as student.

A student shall inform any change in the Principal or Employer to the Institute with all relevant documents within 45 days from such change.

A. Documents to be submitted The Institute shall maintain a register of Cost & Management Trainees to keep records on fulfillment of different requirements for training such as period of training, name of Principal or Employer under which training is undertaken etc. A student shall register with the Institute for the purpose of training with the following documents:

In case of training in the Cost Accounting Firm, the Deed of training executed by the Principal and the student in the prescribed form.

In case of training in an organization, the documents for deployment of trainee signed by an authority of the organization and the student in the prescribed form.

In case of students who are working, the document(s) of his employment.

B. Fees for the Registration of Trainees

A student shall pay Rs 1000/- as registration fees.

A student who is working shall pay Rs 1000/- as registration fees and additional Rs 2000/- as exemption fees.

In case of change of the principal or employer, the trainee shall have to register the necessary documents along with the fees of Rs 300/-.

for details: http://students.icwai.org/Training/students-SchemeforPracticalTraining.asp

Courtesy: The Institute of Cost Accountants of India(ICAI).

kishore

kishore (Querist)
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07 August 2012 Very Very Thank Q Sir

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