Ravi
(181 Points)
Replied 10 May 2007
Hi,
Yes this is true. One year training after inter & two year after final under practicing CMA/ Industrial Training.
[face=Courier]Below is article of The Hindu published on 27.11.2006[/face][color=green][/color]
Practical training for three years has been made compulsory in the new syllabus for the Cost and Works Accountants (CWAs) course conducted by the Institute of Cost and Works Accountants of India (ICWAI), according to C. Dhananjay Vishnu Joshi, national president of the ICWAI. On approval by the Centre, it would come into effect from July 1, 2007.
Addressing the CWA students under the auspices of the Ranipet-Vellore Chapter of Cost Accountants here on Sunday, Mr. Joshi said that the absence of formal practical training for the students was one of the drawbacks, unlike the chartered accountants' course, where there was compulsory training for three years with a practising chartered accountant. This resulted in the less acceptability of the CWAs, compared to the CAs by the industry.
Therefore, the ICWAI had decided to make three years' training compulsory. Unlike the CA students, the CWA students could undergo the practical training either with a practising cost accountant or with an industry having a qualified cost accountant.
He said that the institute had decided to establish Regional Directorates of Training in Kolkata, New Delhi, Chennai and Mumbai. The companies, where the students undergo the training, would provide stipend to them. The ICWAI would prepare a list of industries approved for training, and the Regional Directorates would allot the industry to each student. Though the new syllabus would come into effect from next July, the old syllabus would also be in force and the students would be given the option of preparing either under the old or the new syllabus for another six examinations.
Mr. Joshi said that unlike in the past, abundant job opportunities were available for the CWAs today not only in the manufacturing sector but also in the software industry.
While India needs 25,000 accountants immediately, less than 1,000 cost accountants and less than 3,000 chartered accountants were produced a year. Y. Thyagarajan, Additional General Manager, BHEL, Ranipet, said that the chapter would install more computers. S. Selian, chairman of the chapter, presided. S. Kannan, Deputy General Manager, BHEL, Ranipet welcomed the gathering. Nuzhat Fatima and Aparna, CWA students spoke.
V. Sukavaneshwar, secretary, proposed a vote of thanks.
Bye
Ravi Kant Teltia
CAclubindia
