Is Accounts receivables experience recognized for exemption from ICWAI practical training? Including handling responsibilities such as Bank reconciliation, looking after expenses, maintaining cash book & petty cash book, ledger scrutiny, credit control........
3 Replies
Ankita CWA Final Student
(Principle Internal Auditor)
(348 Points)
Replied 08 October 2012
please Visite following link from icwai website u will get solution for ur querry JAI.
https://students.icwai.org/Training/students-SchemeforPracticalTraining.asp.
Anil.1
(none)
(52 Points)
Replied 09 October 2012
Hi Ankita thanks for Ur reply well I guess my working area does fall under financial accounting & I am working in a pvt ltd co. & of-course turnover is way more than 5 crores
So I just want to know; what are the chances I have of getting exemption from pactical training, if I register for ICWAI
Ankita CWA Final Student
(Principle Internal Auditor)
(348 Points)
Replied 10 October 2012
HI! Jai. i have replied to your querry you had mention above pleas read the following details or you can go through the source it iss also mention below. fpr further querry you can contect a cwa chapter in your nearest area they will guide you more correctly.
Source: https://www.icwai.org/icwainew/docs/FAQ/Training_FAQ.pdf
When can I be exempted from undergoing practical training of 3 years?
ANS: You will get exemption from undergoing practical training equivalent to your working experience in the Organizations listed below provided you are working/worked in the recognized areas listed below:
Organizations recognized for Training: (i) Central/State Government /
Semi-Government / Public Utilities (ii) Banks and other Financial Institutions
(iii) Insurance Company (iv) Public Sector Unit (v) Public Limited Company (vi)
Private Limited Company (vii) Information Technology Sector (viii) KPO / BPO
(ix) Stock Exchange (x) Universities, Management Institutes and any other
educational institute (xi) Limited Liability Partnership Firm (xii) Management
Consultancy Firms (xiii) NGO (xiv)Co-operative societies engaged in Banking
or Manufacturing and (xiii) Any other institution as approved by the Council
from time to time
Recognized areas for Training: (i) Cost Accounting (ii) Financial Accounting
(iii) Financial Management (iv) Auditing (v) Regulatory compliances (vi) Direct
Taxation (vii) Indirect Taxation (viii) Corporate Laws, Industrial Laws and
Commercial Laws (ix) Systems Analysis and Information Technology
(including ERP system) (x) Project Management (xi) Banking Operations (xii)
Insurance (xiii) Valuation (xiv) Financial Services (xv) Teaching in Finance,
Accounts, Costing, Taxation, Management and subjects covered in ICWAI
Syllabus (other than visiting faculty) (xvi) Management Consultancy Services
(xvii) Any other areas approved by the Council from time to time.
2. If I am not working in the recognized areas for training but
Organization(s), will I get the exemption from practical training?
Yes, but not full period of 3 years. You will get exemption equivalent to your
working experience not exceeding 2 years and 6 months. You have to either
gain working experience/or undergo training for a period of six months in the
recognized areas of training in your Organization itself or in other recognized
Organization(s) as listed above.
3. What documents are to be submitted to claim the exemption?
The following Documents should be sent to Delhi Office within 45 days from
the date of registration to claim the exemption:
(i) Application in Form T3 for claiming exemption from practical training.
(ii) Attested copy of the Experience Certificate (if more than one employer,
attach all the certificates from respective employers). Experience Certificate(s)
should clearly mention the areas where student was/is working;
(iii) Demand Draft of Rs. 2000/- towards exemption;
(iv) Attested copy of Form T2 duly verified by the respective Regional
Council/ Chapter mentioning receipt of requisite Training Registration Fee
from the student claiming exemption.
Recent Topics
- How to refund a wrong transaction Phone Pe?
- Avoiding tax audit in case of intraday equity loss
- Form 3CEAB
- Form 3CEAA and Form 3CEAB
- DIR 3 Web KYC
- Can i declare LTCG income as business income if I
- Stock entry in new software
- I have an EMI collection shop, what is its SAC cod
- Making payment once in quarter possible under QRMP
- Master File Documentation related
Related Threads
CAclubindia
