Industrial training

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rahul chauhan

rahul chauhan (Querist)
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25 October 2013 I want to know about the exposure of industrial training.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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25 October 2013 Dear Rahul,

Normally durinetzg the articleship period, you get exposure to audit and tax from consultant angle.

However, in industrial training you get exposure from client side. how a company plans its finances, its tax management, compliances, treasury management etc are the broad exposures you get here. This helps you in getting a much wider view of the CA profession.

Ajay Mishra

Ajay Mishra (Expert)
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25 October 2013 Hi

It may be appreciated that the scheme of industrial training is unique in its character in as much as a trainee gets wide exposure in the areas of professional practice for 24 months or more and thereafter through the industrial training gets a thorough insight of commercial
working from within a specific business unit. He will perceive and realise the commercial way of working and how a business unit practically responds to the framework of theories and laws, to which it is subjected. It may also be noted that the type of industrial training to be received by a trainee largely depends on the nature of the organisation and facilities available there. Normally, large-sized and professionally managed companies offer to impart such training. Such organisations work on the basis of well-defined policies, objectives, controls, systems and procedures. For example, a trainee in a bank naturally can acquire practical exposure in one or more of the distinct activities carried on by the bank depending upon his initiative and facilities made available to him.

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Ajay Mishra

Ajay Mishra (Expert)
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25 October 2013
An outline of the scope of training that can be imparted by a member in industry to an industrial trainee registered under him. As per Regulation 51, it is to be noted that diverse types of industrial units,
financial institutions and commercial houses are recognised by the Institute for the purpose of this training. For example, industries may be as diverse as iron and steel, cement, textiles, cosmetics and newspaper. Fields of banking, financing, insurance, shipping, etc. each having
distinct nature and content of operation are also recognised for the purpose of industrial training. As such, it is not practicable to provide special features of training in each distinct area. Therefore, a programme outline covering points of general application is given to aid the members in planning their respective training programme. Members may suitably modify the given programme outline to meet their individual needs consistent with the responsibility undertaken to enable the trainee to acquire the art, science and knowledge of accountancy. In the industrial training scheme, it is implicit that a thorough and well-rounded training to the trainee, within the unit’s parameters, is intended. Employing the trainee for routine jobs will be inconsistent with such an objective.