Industrial training

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shalini (Querist)
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02 May 2013 Sir iam in 2nd year of articles, i wanted to pursue Industrial Training. My sir is not accepting for industrial training. Even i want to take final coaching. My eligibility for industrial training is on Oct 2013. Can i take termination from my Principal on Oct 2013 and join in industrial training after 6 months?

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Guest (Expert)

02 May 2013 for joining industrial training you do not need to take permission of your principal but you have to just intimate him before 3 months.
he can not deny you.
but you should intimate him at least before 3 months. and industrial training can not be less then for 9 months

Ajay Mishra

Ajay Mishra (Expert)
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02 May 2013 Hi

Yes, you can take transfer for Industrial training. Give Intimation for Industrial Training to your principal or take transfer from your principal and submit Form-109 for approval from Institute.

There is no time limit for joining Industrial Training after taking transfer.

Ajay Mishra

Ajay Mishra (Expert)
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02 May 2013
ELIGIBILITY AND OTHER CONDITIONS FOR UNDERGOING INDUSTRIAL TRAINING

(i) An articled assistant who has passed the Integrated Professional Competence Examination / Professional Competence Examination/ Professional Education (Examination - II) or Intermediate examination can serve as an Industrial trainee in any of the financial, commercial, industrial undertakings as may specified by the Council or such other institution or organization as may be approved by the Council from time to time.
(ii) Articled assistant before proceeding for Industrial Training has to intimate his principal at least three months before the date on which such training has to commence.
(iii) Minimum period of Industrial Training may range between nine months and twelve months during the last year of prescribed period of practical training.
(iv) The Industrial Training shall be received under a member of the Institute. An Associate who has been a member for a continuous period of at least three years is entitled to train one industrial trainee and fellow is entitled train two industrial trainee at a time, whether
such trainees are articled assistants or audit assistants.
(v) An agreement of training is to be entered in the approved form i.e. Form No. 104
(vi) On satisfactory completion of industrial training, the principal has to issue service certificate in the approved form i.e. Form No. 105.
Industrial training also offers an opportunity to the trainees to take part in specialised accounting exercises. Thus, for instance, the closing of accounts provides an opportunity for them to acquire the skills necessary as a concomitant to the theoretical knowledge which they have acquired earlier.
Industrial training may also expose the trainees to management accounting, cost accounting, management information system, EDP, etc. It also provides an opportunity to them to participate in the work relating to corporate laws, taxation and secretarial practice.

shalini

shalini (Querist)
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08 May 2013 Thank you sir. At the time of joining industrial training i should fill Form No. 104? Then when will i get final attempt?

Ajay Mishra

Ajay Mishra (Expert)
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08 May 2013 Hi

As per Regulation 50 of the CA Regulations, 1988, a student will be eligible to appear in Final Exam, after completing of 30 months (2 Years and 6 months) of article ship.

shalini

shalini (Querist)
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08 May 2013 Thank ypu sir. Which Form i should fill at the time of joining Industrial training?

Ajay Mishra

Ajay Mishra (Expert)
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08 May 2013 ELIGIBILITY AND OTHER CONDITIONS FOR UNDERGOING INDUSTRIAL TRAINING

(i) An articled assistant who has passed the Integrated Professional Competence Examination / Professional Competence Examination/ Professional Education (Examination - II) or Intermediate examination can serve as an Industrial trainee in any of the financial, commercial, industrial undertakings as may specified by the Council or such other institution or organization as may be approved by the Council from time to time.
(ii) Articled assistant before proceeding for Industrial Training has to intimate his principal at least three months before the date on which such training has to commence.
(iii) Minimum period of Industrial Training may range between nine months and twelve months during the last year of prescribed period of practical training.
(iv) The Industrial Training shall be received under a member of the Institute. An Associate who has been a member for a continuous period of at least three years is entitled to train one industrial trainee and fellow is entitled train two industrial trainee at a time, whether
such trainees are articled assistants or audit assistants.
(v) An agreement of training is to be entered in the approved form i.e. Form No. 104
(vi) On satisfactory completion of industrial training, the principal has to issue service certificate in the approved form i.e. Form No. 105.
Industrial training also offers an opportunity to the trainees to take part in specialised accounting exercises. Thus, for instance, the closing of accounts provides an opportunity for them to acquire the skills necessary as a concomitant to the theoretical knowledge which they have acquired earlier.

Industrial training may also expose the trainees to management accounting, cost accounting, management information system, EDP, etc. It also provides an opportunity to them to participate in the work relating to corporate laws, taxation and secretarial practice.