Pls clarify
This query is : Resolved
03 October 2009
Hi,
What is Industrial Training under CA course?what is the difference between Industrial Training and Articale ship ?who need to undergo the same & when? what is the duration?. Pls clarify
waiting 4 ur updates....
What is Industrial Training under CA course?what is the difference between Industrial Training and Articale ship ?who need to undergo the same & when? what is the duration?. Pls clarify
waiting 4 ur updates....
03 October 2009
Articleship is done under a practicing chartered accountant for a period of 3.5 years. There you get to know how practicing ca works. But due to articleship the student wont get industrial exposure. For that purpose system of industrial training was introduced.Under IT you can undergo training in a company which has a chartered accountant employed with it.This can be done during the last 1 year of your articleship tenure. This is meant to provide you with exposure in the industry as how do a chartered accountant works in industry.
I hope you are satisfied with my reply.
Regards,
Manish Soni
I hope you are satisfied with my reply.
Regards,
Manish Soni
03 October 2009
agree
05 October 2009
Hi,
Thanks for your clarification.
at present Im working in a Multinational manufacturing Industry under a CA from the last 2 Yrs.
According to the (new scheme) IPCC i have to under go 3 Yrs of Article ship after completion IPCC 1st GP.So can I take exemption for industrial Training as i already have 2 yrs of Industrial Experience and complete remaining 2 yrs of Article ship
or
after IPCC 1st GP shall i register for Industrial Training first instead of article ship and after Industrial Training of 1yr, i'll resign my job and register for article ship.
The main reasons for asking this clarification is becoz i hav completed CWA Inter and hav to appear for final which requires 3yrs of Experience so i can avail exemption if i work upto june 2010.
So Im waiting for an option which is helpful to complete both the courses by saving time.
Pls analyse my case and tell me any of these options will works out or not..
or is there any other option.
UR updations are higly helpful & Required.
Thanks for your clarification.
at present Im working in a Multinational manufacturing Industry under a CA from the last 2 Yrs.
According to the (new scheme) IPCC i have to under go 3 Yrs of Article ship after completion IPCC 1st GP.So can I take exemption for industrial Training as i already have 2 yrs of Industrial Experience and complete remaining 2 yrs of Article ship
or
after IPCC 1st GP shall i register for Industrial Training first instead of article ship and after Industrial Training of 1yr, i'll resign my job and register for article ship.
The main reasons for asking this clarification is becoz i hav completed CWA Inter and hav to appear for final which requires 3yrs of Experience so i can avail exemption if i work upto june 2010.
So Im waiting for an option which is helpful to complete both the courses by saving time.
Pls analyse my case and tell me any of these options will works out or not..
or is there any other option.
UR updations are higly helpful & Required.
10 August 2024
### Understanding Industrial Training vs. Articleship in the CA Course
**1. What is Industrial Training?**
**Industrial Training** is a specific training module within the Chartered Accountancy (CA) course offered by the Institute of Chartered Accountants of India (ICAI). It is designed for CA students to gain practical experience in an industrial or corporate environment, different from traditional articleship training.
**Key Aspects:**
- **Duration:** 9 months to 12 months (depending on the scheme).
- **Eligibility:** Generally undertaken after the completion of the first group of CA Intermediate (IPCC) or CA Foundation under the new scheme.
- **Objective:** To provide students with exposure to real-world business scenarios, financial management, and corporate governance.
- **Types of Organizations:** Large corporate entities, public sector companies, and multinational corporations.
**2. What is Articleship?**
**Articleship** is the mandatory practical training required for all CA students. It provides hands-on experience in various areas of accounting, auditing, taxation, and financial management under the guidance of a qualified CA.
**Key Aspects:**
- **Duration:** 3 years.
- **Eligibility:** Must be undertaken after completing CA Intermediate (IPCC) or CA Foundation and before the final examination.
- **Objective:** To prepare students for the diverse challenges of the accounting profession by providing comprehensive practical training.
- **Types of Organizations:** CA firms, corporate sectors, and other institutions where the training is supervised by a qualified CA.
**3. Difference Between Industrial Training and Articleship:**
- **Focus:**
- **Industrial Training:** Focuses on practical exposure in a corporate or industrial setting, providing insights into managerial and operational aspects of business.
- **Articleship:** Focuses on practical training in accounting, auditing, taxation, and related fields under the supervision of a CA.
- **Duration:**
- **Industrial Training:** Typically 9 to 12 months.
- **Articleship:** 3 years.
- **Eligibility and Timing:**
- **Industrial Training:** Typically undertaken after passing the first group of IPCC and before registering for the CA Final exams.
- **Articleship:** Can be started immediately after passing the CA Intermediate exams.
**4. Who Needs to Undergo Industrial Training?**
- Students who have completed the first group of IPCC or the relevant exams under the new scheme and are looking for a different exposure in the corporate sector.
- It is optional but beneficial for those seeking broader industry experience.
**5. Can You Use Industrial Training Experience Towards Articleship?**
Based on the new scheme of CA:
- **Option 1:** **Register for Industrial Training after IPCC Group 1.** This will allow you to gain 1 year of industrial experience. After completing the industrial training, you will need to complete the remaining 2 years of articleship. The industrial training cannot fully substitute for articleship; you will still need to complete the remaining duration of articleship to meet the total 3-year requirement.
- **Option 2:** **Register for Articleship after IPCC Group 1.** Complete the full 3 years of articleship to fulfill the practical training requirement. You can continue working in your current role if it is under a qualified CA and covers relevant experience.
**6. Impact on CWA (Cost and Works Accountancy) Final:**
If you are aiming to complete both CA and CWA:
- **Industrial Training Experience:** Your 2 years of industrial experience might be considered for exemptions or credit in CWA. However, this should be confirmed with the CWA Institute regarding their specific requirements and how they recognize industrial training.
**7. Recommendations:**
- **Verify with ICAI:** Confirm the exact eligibility criteria and rules with ICAI for industrial training and articleship, as policies may vary or be updated.
- **Consult with CWA Institute:** Confirm how the CA and CWA experience requirements can be aligned or credited towards each other.
- **Consider Practical Aspects:** Evaluate the feasibility of managing both training and work experience within your career goals.
**Summary:**
- **Industrial Training** can be pursued after completing the first group of IPCC and is designed to provide corporate experience.
- **Articleship** is mandatory and needs to be completed in full.
- You can start industrial training post-IPCC, but you must complete the remaining 2 years of articleship.
- Ensure to verify details with ICAI and CWA regarding experience recognition and exemptions.
Make sure to follow up with the respective institutes to ensure you meet all the requirements and maximize your training benefits.
**1. What is Industrial Training?**
**Industrial Training** is a specific training module within the Chartered Accountancy (CA) course offered by the Institute of Chartered Accountants of India (ICAI). It is designed for CA students to gain practical experience in an industrial or corporate environment, different from traditional articleship training.
**Key Aspects:**
- **Duration:** 9 months to 12 months (depending on the scheme).
- **Eligibility:** Generally undertaken after the completion of the first group of CA Intermediate (IPCC) or CA Foundation under the new scheme.
- **Objective:** To provide students with exposure to real-world business scenarios, financial management, and corporate governance.
- **Types of Organizations:** Large corporate entities, public sector companies, and multinational corporations.
**2. What is Articleship?**
**Articleship** is the mandatory practical training required for all CA students. It provides hands-on experience in various areas of accounting, auditing, taxation, and financial management under the guidance of a qualified CA.
**Key Aspects:**
- **Duration:** 3 years.
- **Eligibility:** Must be undertaken after completing CA Intermediate (IPCC) or CA Foundation and before the final examination.
- **Objective:** To prepare students for the diverse challenges of the accounting profession by providing comprehensive practical training.
- **Types of Organizations:** CA firms, corporate sectors, and other institutions where the training is supervised by a qualified CA.
**3. Difference Between Industrial Training and Articleship:**
- **Focus:**
- **Industrial Training:** Focuses on practical exposure in a corporate or industrial setting, providing insights into managerial and operational aspects of business.
- **Articleship:** Focuses on practical training in accounting, auditing, taxation, and related fields under the supervision of a CA.
- **Duration:**
- **Industrial Training:** Typically 9 to 12 months.
- **Articleship:** 3 years.
- **Eligibility and Timing:**
- **Industrial Training:** Typically undertaken after passing the first group of IPCC and before registering for the CA Final exams.
- **Articleship:** Can be started immediately after passing the CA Intermediate exams.
**4. Who Needs to Undergo Industrial Training?**
- Students who have completed the first group of IPCC or the relevant exams under the new scheme and are looking for a different exposure in the corporate sector.
- It is optional but beneficial for those seeking broader industry experience.
**5. Can You Use Industrial Training Experience Towards Articleship?**
Based on the new scheme of CA:
- **Option 1:** **Register for Industrial Training after IPCC Group 1.** This will allow you to gain 1 year of industrial experience. After completing the industrial training, you will need to complete the remaining 2 years of articleship. The industrial training cannot fully substitute for articleship; you will still need to complete the remaining duration of articleship to meet the total 3-year requirement.
- **Option 2:** **Register for Articleship after IPCC Group 1.** Complete the full 3 years of articleship to fulfill the practical training requirement. You can continue working in your current role if it is under a qualified CA and covers relevant experience.
**6. Impact on CWA (Cost and Works Accountancy) Final:**
If you are aiming to complete both CA and CWA:
- **Industrial Training Experience:** Your 2 years of industrial experience might be considered for exemptions or credit in CWA. However, this should be confirmed with the CWA Institute regarding their specific requirements and how they recognize industrial training.
**7. Recommendations:**
- **Verify with ICAI:** Confirm the exact eligibility criteria and rules with ICAI for industrial training and articleship, as policies may vary or be updated.
- **Consult with CWA Institute:** Confirm how the CA and CWA experience requirements can be aligned or credited towards each other.
- **Consider Practical Aspects:** Evaluate the feasibility of managing both training and work experience within your career goals.
**Summary:**
- **Industrial Training** can be pursued after completing the first group of IPCC and is designed to provide corporate experience.
- **Articleship** is mandatory and needs to be completed in full.
- You can start industrial training post-IPCC, but you must complete the remaining 2 years of articleship.
- Ensure to verify details with ICAI and CWA regarding experience recognition and exemptions.
Make sure to follow up with the respective institutes to ensure you meet all the requirements and maximize your training benefits.
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