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Cwa pq training of 3 years is mandatory or optional

CA Lokesh Pokharna (CA (Ahmedabad Bhilwara Chittorgarh)) (4128 Points)

05 August 2013

Dear all,

Please tell me this 3 years training is mandatory for whom. and for whom its not worthwhile to take.

Best Regards:

CA Lokesh Jain

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11 Replies

Sachin Rajput (account exe) (593 Points)
Replied 05 August 2013

Please follow this link ..

https://www.icmai.in/upload/Training/FAQ-on-Practical-Training.pdf

CA Lokesh Pokharna (CA (Ahmedabad Bhilwara Chittorgarh)) (4128 Points)
Replied 05 August 2013

Dear sachin,

i m doing job in a unlisted public co. since last year one year and if i will complete 3 years here , then will i be eligible for exemption ??????????

Sachin Rajput (account exe) (593 Points)
Replied 05 August 2013

yes your experience will be count if your organization with a turnover of Rs. 50 Lakhs in case service sector or Rs. 1 crore in case of other than

service sector.

CA Lokesh Pokharna (CA (Ahmedabad Bhilwara Chittorgarh)) (4128 Points)
Replied 05 August 2013

Yes i got it.. and thank you....

CA Lokesh Pokharna (CA (Ahmedabad Bhilwara Chittorgarh)) (4128 Points)
Replied 05 August 2013

But still have a one question . i m doing job as a CA and i i still have to enroll with icwai for cwa course .. will it make any difference?

(Guest)

Lokesh Sir, its nice to know, you want to join CMA course, please check the query no. 13 (vii) and (ix), from the file provided by Sachin..

vii. If the firm of Chartered Accountants/ Company Secretaries has separate Management Consultancy Division and if the applicant has exclusively worked in that division, credence to such service is given on percentage basis depending on the nature of job related with cost/ management accounting/ financial accounting/ taxation/ MIS or of similar nature, size of the firm, nature of duties handled by the applicant, size of the client companies etc.

ix. Practicing Chartered Accountants/Company Secretaries are exempted from the Practical Training Scheme and they will have to seek exemption after duly following the procedures on payment of exemption fee as prescribed.

These points may help you Sir, All the best to you..,

CA Lokesh Pokharna (CA (Ahmedabad Bhilwara Chittorgarh)) (4128 Points)
Replied 05 August 2013

I m doing Job in manufacturing sector , and above points are related with ca firms..........

So in a very simple language i want to ask that if one who had did corporate job in a co. whose turnover is more than 1crore then after this job or with this job he will complete his cwa course then in this case will he get exemption from training or not???

regarding point no. 13 i want to know - its saying like this -I am working in an organization for last....years.

is this working exp. should be as a cwa final exam qualified person or it can be also as a non qualified person????????

(Guest)

Sir, You can claim exemption, even if you had work experience before joining cma course.., as it happened in my case..

For your info..,Once you register for CMA Inter, you can immediately join for training or apply for exemption,

As you have one yr experience, you will get partial exemption, or may be you can apply for complete exemption after gaining 3 yrs exp..

Please chk below points mention on CMA website..

A student can seek exemption from Practical Training immediately after joining the Intermediate course, or at any time during the course of studies subject to dates given in 3(ii) if he is otherwise eligible.

https://icmai.in/training/trainingscheme

CA Lokesh Pokharna (CA (Ahmedabad Bhilwara Chittorgarh)) (4128 Points)
Replied 05 August 2013

Th¦nks harini.. it is very useful...

Deepika (Consultant) (24 Points)
Replied 15 August 2013

Hi Harini,

I am a BTech with PGDBM in finance and working since 5 years in SAP Finance and Controlling.

What is the applicable training required for me, if any ?

I would be appearing for my Inter Group 1 in June 2014.

Thanks

(Guest)

@ Deepika,

3 yrs practical training is compulsory for cma students.. You can get exemption:

If your experience is in any of the organization listed in (A) below and in the area as given in (B) below, you will get exemption from practical training equivalent to your work experience.

(A) Recognised Organisations

(1) Practicing Cost Accountant or

(2) a firm of Cost Accountants or

(3) in any of the following organizations.

i. Central/State Government / Semi-Government / Public Utilities.

ii. Banks/Insurance/ other Financial Institution

iii. Public Sector Unit

iv. Universities, Management Institutes and any other

recognized educational institute

v. Co-operative societies engaged in Banking, Manufacturing.

vi. Any other organization with a turnover of Rs. 50 Lakhs in case service sector or Rs. 1 crore in case of other than service sector.

B) Recognized areas for Training:

i. Management Accounting

ii. Cost Accounting

iii. Financial Accounting

iv. Financial Management

v. Auditing

vi. Regulatory compliances

vii. Direct Taxation

viii. Indirect taxation

ix. Corporate Laws, Industrial Laws, Commercial Laws

x. Systems Analysis, Information Technology (including

ERP system)

xi. Project Management

xii. Banking Operation

you can appear for Inter exams, but to appear for final exams, one should complete minimum 6 months of training or 100 hrs of CMAT, or should have got exemption..,

All the best..,