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Icwai - training

Rajeev (Student) (83 Points)

07 January 2012

Wheather working as an accountant in PARTNERSHIP FIRM is eligible for claiming exemption from 3years practical training of ICWAI??? Please give me a reply.

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Hemant Kumar (Accounts Manager MBA (Fin) CMA*) (6450 Points)
Replied 07 January 2012

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.

go through following link for more details.

https://www.icwai.org/icwainew/docs/FAQ/Training_FAQ.pdf

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srinivas (Assistant account) (21 Points)
Replied 02 February 2012

I am working at now charterted accountant pantership firm if I continue same firm its useful icwai for the perpose of examination pls give me good suggestion ...weather i ll be continue or not ..

sachin (CMA Student) (59 Points)
Replied 20 March 2012

dear sir

i m persuing CMA inter-I along with job as a Accountant in a pvt ltd co. whose turnover is above 25 cr..

my quistion is can i get an exemption for training for appearing Final exam in next year...?

(Guest)

@ sachin, yes, you can get exemption...

sachin (CMA Student) (59 Points)
Replied 22 March 2012

@ harini but in prospectus there is condition that if any CO. carrying any cost accountant already working there then you can get exemption. please clarify....

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sachin (CMA Student) (59 Points)
Replied 22 March 2012

harini but in prospectus there is a condition mention already that if any co. carrying any cost accountant as a admin. there then you can get an exemption . but in my co. there is not any such thing..

please clarify

(Guest)

@ Sachin, can you please tell me the page no., of prospectus,... or any link.. As per my knowledge, the information given by Hemant kumar (check the above replies), is correct one, As institute mentioned clearly, what companies are covered for exemption..

sachin (CMA Student) (59 Points)
Replied 23 March 2012

@ harini i am bit confused about the line mention page no. 78 of prospectus there are three condition where i can get an exemption the last one is confusing that ANY ORGANISATIONS UNDER A PROFESSIONELY QUALIFIED PERSON. here what the meaning of professionaly qualified .

please clarify

sachin (CMA Student) (59 Points)
Replied 29 March 2012

@ harini did you get that page no. of the prospectus . still my question is pending. could you please explain it.. please reply

(Guest)

@ sachin, the 3 conditions you are talking about, are not regarding exemption, these apply to the organisations recognised for training, If you opt for practical training, the company you choose must satisfy any of the 3 conditions, hope you got it..

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sachin (CMA Student) (59 Points)
Replied 29 March 2012

my oranisation is a pvt ltd. but there is not any professionally qualified person. under i can get training..

(Guest)

If you want exemption, I think its enough that you are working in areas given by institute, and under eligible orgns... as earlier I said.. if you want to go undergo practical trng, then you shd work under professionally qualified person..., Are you applying for exemption or willing to go for practical trng..?