Articleship

This query is : Resolved

Chandan Babu Gupta (Querist)
Follow

22 December 2012 Hello Im Chandan & im pursuing IPCC. Can anyone tell me about various fields of working under 3 years articleship which we will be exposed during our articleship period. Please reply

Ajay Mishra

Ajay Mishra (Expert)
Follow

22 December 2012 Hi

DESIGN OF TRAINING PROGRAMME

6.2.1 The Member Incharge of Training (MIT)/Principal may make a detailed assessment of the training environment so as to identify the areas in which the firm must provide training and the contribution which the firm can expect from trainees. Such an assessment will ensure that the training programme is relevant to the needs of the trainees and the firm. The following factors may be considered in this context:
(i) a review of the timing, type and total amount of work generated by the firm;
(ii) an assessment of the partners and staff with the experience, skills and qualifications needed to undertake the work and to provide supervision to trainees;
(iii) availability or otherwise of senior trainees for supervising the work done by junior trainees;
(iv) reviewing the arrangements for instructions, particularly experience needs to be supplemented by theoretical training;

(v) The period for which trainees will be available for work. (The effect of releasing trainees from assignments for courses or study leave must be taken into account); and
(vi) whether there are any deficiencies in the work experience available to trainees and how these may be overcome e.g. by secondment etc.
6.2.2 In designing the training programme, the following components are considered simultaneously so as to make it meaningful:
(i) Categories of work experience
(ii) In-house theoretical training
(iii) Development of professional attitude
(iv) Phasing of training programme.
The training programme is planned to ensure that the above components are included therein. The above components which are integrated into a logical sequence and which will provide trainees with the skills expected of them, are considered in detail in later paragraphs.
6.2.3 While considering integration of various components of a training programme the following elements are noteworthy:
(i) Assigning progressive work experience commensurate with the expanding abilities of the trainees around:-
a number of ‘core’ assignments for each trainee; and
further assignments selected to broaden the trainee’s experience which will not necessarily be repeated.
(ii) Designing a study plan to ensure that trainees are fully prepared to take examinations for which they are eligible.
(iii) Ensuring that work experience is preceded and backed by practical instruction including briefing before each assignment to ensure that the requirements of Accounting Standards and Auditing Standards relevant to the business of the auditee, etc. are fulfilled and that application of practical techniques to the circumstances of individual clients is properly understood.
(iv) Ensuring that any in-house theoretical training is integrated with practical work experience, which will update the Trainees/Students with latest knowledge and developments.
(v) Assigning higher levels of technical and supervisory responsibility and client contact designed to ensure that personal and managerial skills are developed.
(vi) Ensuring that professional attitude and an understanding of professional ethics are developed by all trainees.

Ajay Mishra

Ajay Mishra (Expert)
Follow

22 December 2012
Categories of work experience:

The categories of work experience are generally grouped as under:
Accounting
Auditing (including internal audit)
Taxation (direct and indirect)
Information technology
Management services (including services in the field of financial management and
corporate affairs)
Other areas, if any.

Message likes : 1 times

Ajay Mishra

Ajay Mishra (Expert)
Follow

22 December 2012
(i) Accounting includes Financial Accounting and Management Accounting:
Maintaining of books of accounts, manual or computerised
Preparing final accounts
Application of statutory provisions, compliances of Accounting Standards
and other pronouncements of the Institute, etc.
Analysis and interpretation of financial statements
Preparing and reviewing budgets
Preparing and reviewing fund flow and cash flow statements.

Ajay Mishra

Ajay Mishra (Expert)
Follow

22 December 2012 (ii) Auditing includes statutory audits, audit of various type of business and non-business organisations, tax audit, EDP audit, internal audit, operational audit, management audit and certification work:
Preparing audit programmes
Audit working papers and documentation
Understanding, recording and evaluating internal control system
Performing substantive audit procedures
Scrutinising financial statements
Compliance with auditing and assurance standards
Drafting audit report

Ajay Mishra

Ajay Mishra (Expert)
Follow

22 December 2012
(iii) Taxation includes both direct and indirect taxes:-
Computation of total income under Income Tax Law
Computation of total wealth under Wealth Tax Law
Preparation and filing of returns under various direct tax laws like Income-tax, Wealth-tax etc.
Valuation of stocks, securities, etc. for the purpose of various direct tax laws e.g. Wealth Tax, Income from Capital Gains, etc.
Tax planning
Drafting of relevant deeds, documents, schemes, etc.
Preparation and filing of returns under various indirect tax laws like Excise
Law, Central Sales Tax, State Sales Tax, VAT, Service Tax, Expenditure Tax, etc.
Classification and valuation under various indirect tax laws like Excise Law, etc.
Procedural compliance under various direct and indirect tax laws e.g. tax deduction/collection at source, interest for late payment of taxes, appeals etc.

Ajay Mishra

Ajay Mishra (Expert)
Follow

22 December 2012
(iv) Information technology including computer applications:
Use of skills acquired by the students during the 100 hours Information
Technology Training in their actual work areas such as:
Use of customised or standard accounting packages, enterprise resource
planning, etc.
Developing and maintaining data bases
Data extraction and analysis techniques
E-commerce – audit and legal considerations
System development life cycle
Business continuity planning
Information security
Information systems audit
Cyber laws and information technology

Ajay Mishra

Ajay Mishra (Expert)
Follow

22 December 2012
(iv) Information technology including computer applications
Use of skills acquired by the students during the 100 hours Information
Technology Training in their actual work areas such as:
Use of customised or standard accounting packages, enterprise resource
planning, etc.
Developing and maintaining data bases
Data extraction and analysis techniques
E-commerce – audit and legal considerations
System development life cycle
Business continuity planning
Information security
Information systems audit
Cyber laws and information technology

Ajay Mishra

Ajay Mishra (Expert)
Follow

22 December 2012
(v) Management consultancy and other services including services in the field
of financial management and corporate affairs such as:
Preparation of fund flow and cash flow statements and forecasts
Projection of working capital requirements
18
Preparation of project reports
Preparation and processing of loan applications
Amalgamation and merger schemes
Planning capital structure
Drafting of Memorandum and Articles of Association
Formation of Companies
Preparation and analysis of Prospectus
Raising of capital, new issues and matters concerned therewith including SEBI
Guidelines
Drafting of Minutes
Insolvency/Liquidation proceedings.
(vi) Other areas may include work study, organisational structure, design and conduct of training programmes, corporate planning.

Ajay Mishra

Ajay Mishra (Expert)
Follow

22 December 2012 The categorization of work experience as above should not be considered exhaustive or
rigid as it is quite likely that working in a particular field may also overlap with other areas.
For instance, work experience in the area of accounting and auditing may not be
distinguishable in actual practice as both areas are quite inseparable from each other.
Further, computers may be used in any of the aforesaid categories of work experience.

Chandan Babu Gupta

Chandan Babu Gupta (Querist)
Follow

24 December 2012 Thanks for the reply sir, it was very good and elaborate.

Chandan Babu Gupta

Chandan Babu Gupta (Querist)
Follow

24 December 2012 Thanks for the reply sir, it was very good and elaborate.

Ajay Mishra

Ajay Mishra (Expert)
Follow

24 December 2012 My pleasure.................

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Rubal Singhal

Ravi Varshney

Shivchandra Jakhotia

DHANASHRI KARMARKAR

Sneh Choraria

Subscribe Now

Articleship

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

GST CONSULTANCY

Manager- Finance and Compliance

Senior Executive

Accountant

CA Final