Company Secretary
74352 Points
Joined March 2009
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INDUSTRIAL TRAINING:
It is a training scheme by which a student can undergo practical training within an approved industrial undertaking having specified amount of fixed assets or turnover or paid – up share capital.
OBJECTIVE OF INDUSTRIAL TRAINING:
· Training in an industrial / commercial / financial environment provides the trainees with the opportunity to develop a problem solving attitude and to have an insight into the functioning of the accounts department.
· It also diversifies their practical experience and helps them in developing the attributes of team work and correlation with members of other professions and disciplines.
· It is intended to provide the trainees with a new dimension to their experience.
· This would necessarily involve exposure of trainees to the entire gamut of activities of industrial establishments in a phased and systematic manner.
· An exposure to the working environment of a large commercial organization will give them an integrated view of its operations.
· It is essential that the member imparting training in industrial including commercial and financial enterprises,
recognizes that perception of the overall business environment is the prime objective of such training.
An articled assistant after passing PCE can undergo industrial training during last 9-12 months of articled training. An articled assistant shall intimate to the MIT / Principal about his intention to undergo industrial training at least 3 months before the date on which such training is to commence.
Industrial training can be performed in financial, commercial, industrial undertakings with minimum fixed assets of Rs.1 crore; or minimum total turnover of Rs.10 crore; or minimum paid–up share capital of Rs.50 lakhs; or such other institutions or organization as may be approved by the Council from time to time.