Industrial training

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 October 2013 My name is Ramkumar.I am eligible apply for industrial training.I want to know how to apply for industrial training and whom to contact for industrial training.
Please help me in this regard.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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15 October 2013 The Institute of Chartered Accountants of India (ICAI), in furtherance of its objectives of providing to the industries, members with adequate knowledge and background of industrial functioning, conceived the concept of industrial training.

The period of industrial training may range between nine months and twelve months during the last year of the prescribed period of practical training. The minimum time duration for Industrial Training is 9 months and the mximum being 12 months.

An articled assistant who has passed the IPCC/ PCC or Intermediate examination by whatever name under ICAI, can serve as an industrial trainee for the period specified in any of the financial, commercial, industrial undertakings with minimum fixed assets or minimum total turnover or minimum paid-up share capital as may be specified by the Council.

An Associate who has been a member for a continuous period of at least three 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, whether such trainees be Articled Assistants or Audit Assistants.

To avail Industrial Training, a student has to submit Form 104 with ICAI and on satisfactory completion of the Training,member under whom the industrial training is received shall issue a certificate in Form No.105 in respect of the training undergone.

Ajay Mishra

Ajay Mishra (Expert)
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15 October 2013
ELIGIBILITY AND OTHER CONDITIONS FOR UNDERGOING INDUSTRIAL TRAINING

(i) An articled assistant who has passed the Integrated Professional Competence Examination / Professional Competence Examination/ Professional Education (Examination - II) or Intermediate examination can serve as an Industrial trainee in any of the financial, commercial, industrial undertakings as may specified by the Council or such other institution or organization as may be approved by the Council from time to time.
(ii) Articled assistant before proceeding for Industrial Training has to intimate his principal at least three months before the date on which such training has to commence.
(iii) Minimum period of Industrial Training may range between nine months and twelve months during the last year of prescribed period of practical training.
(iv) The Industrial Training shall be received under a member of the Institute. An Associate who has been a member for a continuous period of at least three years is entitled to train one industrial trainee and fellow is entitled train two industrial trainee at a time, whether
such trainees are articled assistants or audit assistants.
(v) An agreement of training is to be entered in the approved form i.e. Form No. 104
(vi) On satisfactory completion of industrial training, the principal has to issue service certificate in the approved form i.e. Form No. 105.

Industrial training also offers an opportunity to the trainees to take part in specialised accounting exercises. Thus, for instance, the closing of accounts provides an opportunity for them to acquire the skills necessary as a concomitant to the theoretical knowledge which they have acquired earlier.

Industrial training may also expose the trainees to management accounting, cost accounting, management information system, EDP, etc. It also provides an opportunity to them to participate in the work relating to corporate laws, taxation and secretarial practice.

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CA Pallav Singhania

CA Pallav Singhania (Expert)
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15 October 2013 You can go thru this link,

http://www.charteredclub.com/tag/industrial-training-vacancies/

regards,

Ajay Mishra

Ajay Mishra (Expert)
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15 October 2013
For more Industrial Training Vacancies, go to the following link:

http://www.icai.org/post.html?post_id=823