Industrial training for ca student
This query is : Resolved
03 March 2012
Hi....Friends
I want to know about Industrial Training for CA Students
if any body know about this please tell me...
each and every thing which you know...
please...
I want to know about Industrial Training for CA Students
if any body know about this please tell me...
each and every thing which you know...
please...
04 March 2012
Hi Lalit
OBJECTIVES OF INDUSTRIAL TRAINING
The Institute, 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 concept, inter alia, envisages the preparation of trainees, who intend to build their careers in industries, after becoming chartered accountants, in a manner mutually beneficial.
Training in an industrial/
commercial/financial environment provides the trainees with the opportunity to develop a problem-solving attitude and to have an insight into the functioning of
the accounts department. It also diversifies their practical experience and helps them in developing the attributes of team work and correlation with members of other professions and disciplines. It is intended to provide the trainees with a new dimension to their experience.
This would necessarily involve exposure of trainees to the entire gamut of activities of industrial establishments in a phased and systematic manner. An exposure to the working environment of a large commercial organisation will give them an integrated view of its operations. It is essential that the member imparting training in industrial including commercial and financial enterprises, recognises that perception of the overall business environment is the prime objective of such training.
Regards
OBJECTIVES OF INDUSTRIAL TRAINING
The Institute, 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 concept, inter alia, envisages the preparation of trainees, who intend to build their careers in industries, after becoming chartered accountants, in a manner mutually beneficial.
Training in an industrial/
commercial/financial environment provides the trainees with the opportunity to develop a problem-solving attitude and to have an insight into the functioning of
the accounts department. It also diversifies their practical experience and helps them in developing the attributes of team work and correlation with members of other professions and disciplines. It is intended to provide the trainees with a new dimension to their experience.
This would necessarily involve exposure of trainees to the entire gamut of activities of industrial establishments in a phased and systematic manner. An exposure to the working environment of a large commercial organisation will give them an integrated view of its operations. It is essential that the member imparting training in industrial including commercial and financial enterprises, recognises that perception of the overall business environment is the prime objective of such training.
Regards
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04 March 2012
Hi
NATURE OF INDUSTRIAL TRAINING
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.
Industrial training also affords 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.
NATURE OF INDUSTRIAL TRAINING
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.
Industrial training also affords 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.
04 March 2012
Hi
What is industrial training?
It is a training scheme by which a student can undergo practical training within an approved industrial undertaking having specified amount of fixed assets or turnover or paid – up share capital.
What are the objectives of industrial training?
Training in an industrial / commercial / financial environment provides the trainees with the opportunity to develop a problem solving attitude and to have an insight into the functioning of the accounts department.
It also diversifies their practical experience and helps them in developing the attributes of team work and correlation with members of other professions and disciplines.
It is intended to provide the trainees with a new dimension to their experience.
This would necessarily involve exposure of trainees to the entire gamut of activities of industrial
establishments in a phased and systematic manner.
An exposure to the working environment of a large commercial organization will give them an integrated view of its operations.
It is essential that the member imparting training in industrial including commercial and financial enterprises, recognizes that perception of the overall business environment is the prime objective of such training.
When can an articled assistant commence industrial training?
An articled assistant after passing PCE can undergo industrial training during last 9-12 months of articled training.
Is it required to take prior permission of the MIT / Principal for joining an industrial training?
Yes. An articled assistant shall intimate to the MIT / Principal about his intention to undergo industrial training at least 3 months before the date on which such training is to commence.
What is the specified size of the organization where in industrial training can be performed?
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.
What is the duration of the industrial training?
The period of industrial training may range between 9 months to 12 months.
Should industrial training be received under the member of the Institute?
Yes. 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.
Is there any agreement of industrial training just like Deed of Articles (standard format of which is available in Form No.102)?
Yes. It is Form No.104. Refer to Training Guide for a specimen copy of this Form.
Is there any industrial training completion of certificate?
Yes. 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. Refer to Training Guide for a specimen copy of this Form.
Is it required to maintain any industrial training record?
Yes. It is required to maintain details of work undertaken and training received in the prescribed format. Refer to Annexure VII of the Training Guide. Record of the industrial training should be signed by the
Principal (the associate / fellow member under which the industrial training is received) in all circumstances.
Regards
What is industrial training?
It is a training scheme by which a student can undergo practical training within an approved industrial undertaking having specified amount of fixed assets or turnover or paid – up share capital.
What are the objectives of industrial training?
Training in an industrial / commercial / financial environment provides the trainees with the opportunity to develop a problem solving attitude and to have an insight into the functioning of the accounts department.
It also diversifies their practical experience and helps them in developing the attributes of team work and correlation with members of other professions and disciplines.
It is intended to provide the trainees with a new dimension to their experience.
This would necessarily involve exposure of trainees to the entire gamut of activities of industrial
establishments in a phased and systematic manner.
An exposure to the working environment of a large commercial organization will give them an integrated view of its operations.
It is essential that the member imparting training in industrial including commercial and financial enterprises, recognizes that perception of the overall business environment is the prime objective of such training.
When can an articled assistant commence industrial training?
An articled assistant after passing PCE can undergo industrial training during last 9-12 months of articled training.
Is it required to take prior permission of the MIT / Principal for joining an industrial training?
Yes. An articled assistant shall intimate to the MIT / Principal about his intention to undergo industrial training at least 3 months before the date on which such training is to commence.
What is the specified size of the organization where in industrial training can be performed?
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.
What is the duration of the industrial training?
The period of industrial training may range between 9 months to 12 months.
Should industrial training be received under the member of the Institute?
Yes. 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.
Is there any agreement of industrial training just like Deed of Articles (standard format of which is available in Form No.102)?
Yes. It is Form No.104. Refer to Training Guide for a specimen copy of this Form.
Is there any industrial training completion of certificate?
Yes. 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. Refer to Training Guide for a specimen copy of this Form.
Is it required to maintain any industrial training record?
Yes. It is required to maintain details of work undertaken and training received in the prescribed format. Refer to Annexure VII of the Training Guide. Record of the industrial training should be signed by the
Principal (the associate / fellow member under which the industrial training is received) in all circumstances.
Regards
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19 December 2012
My pleasure..........................
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