As all know that there are three phases of the CA Course, CA Foundation, CA Intermediate, and CA Final. After CA Intermediate there comes a very important training phase for the CA Students which is known as the CA Articleship. After clearing the CA Intermediate examination, CA aspirants across the country gear up for their CA Articleship which involves practical training as a Chartered Accountant for three years.
Eligible candidates can appear for the CA Final level examination only after completing 3 years of CA Articleship.
What is CA Articleship Training?
CA Articleship Training is hands-on instruction in which students carry out the typical day-to-day responsibilities of Chartered accountants. After passing either one or both CA Intermediate Groups. The CA Articleship lasts for three years. Students get the opportunity to put their academic knowledge into practice during these three years of training and gain practical experience.
To take the CA Final Exam, students must finish the required coursework.
Will the CA Articleship Period Be Cut in Half to Two Years?
Recently, the ICAI presented a brand-new education and training programme. In the new plan, ICAI lowered the CA articleship training term from 3 years to 2 years. The modifications have yet to be authorised by the Ministry of Corporate Affairs despite being submitted by ICAI.
There is a greater likelihood that the revised plan will be approved, and the required updates and modifications will start right away.
What Occurs During the Practical Training for the CA Articleship?
In the articleship, the key tasks that an article performs are:
- Compliance with ROC,
- Tax return filing,
- Preparation of financial statements, etc.
According to the diligence of the articles, they are currently given some assignments in the second and third year.
Furthermore, we have shown that the work performed by articles is also influenced by the company they work for and the training year they are in.
Does Articleship Training Matter in CA?
The response is an obvious Yes. It is important to complete the ICAI Practical Training. The following are reasons the CA Articleship training is crucial:
- Develops Your Professionalism:
Three years of hands-on experience is more than enough to shape you into a true professional. You have more than just academic knowledge; you also have real-world experience.
- Develops a Professional Attitude:
The way we carry ourselves, the way we interact with others, the presence of mind when a client asks a question but we are unsure of the answer, how we represent our team in front of the Board of Directors, how we manage deadlines and multiple tasks, and how patiently we handle challenging circumstances are all indicators of our behaviour, attitude, and personality. We all learned these things during the articleship.
- Client-handling experience
You will have the chance to work with and for clients during the CA Articleship training. This has the advantage that you can open your own practice and attract clients as soon as you become a CA.
- Contribute to case study responses in your final paper.
The ICAI requires a fully qualified chartered accountant with both academic and practical competence at the CA Final Level. Those applicants who took their articleship extremely seriously also profit from it in their CA Final Papers.
- Learn to Manage Time
It's been stated that anything can be managed if you can manage your time during an articleship. A CA student's timetable during their articleship is actually extremely busy. A normal CA student who leaves his house at 6 in the morning for coaching arrives at the office at 10 sharp, works all day, and returns to class at 6 in the evening after spending some time on independent study.
At a young age, they must learn to manage their self-study, coaching, office, audit, meetings, deadlines, work pressure, family time, and many other things. Therefore, if you can handle such situations well, consider yourself to have learnt management.
You must complete the CA articleship training because it is a crucial component of your CA education. In the end, choosing a dummy articleship will prevent you from learning more about these numerous advantages.
And if you don't want to take the CA articleship, you should be aware that you need three years of CA Articleship certifications in order to sit for the CA Final Exam.
Important Information: Your three-year CA articleship will not count as work experience. This is so because your CA Course includes the practical instruction, which is required.
What are the requirements for CA Articleship Eligibility?
You must meet the requirements for the CA articleship to be eligible to apply for practical training. For students using the CA Foundation Route and Direct Entry Route, there are various eligibility requirements.
Let's first go over the Foundation route eligibility requirements for CA Articleship.Student who is in 12th grade should first qualify the CA Foundation Exam. Then either one or both CA Intermediate groups, and then he will be eligible for the CA Articleship.
In the Direct Entry Route CA Foundation is not required. One can directly give the CA Intermediate Exam and after qualifying it, can go forward for the Articleship Program.
Students can go through the CA Entrance Exam Books for qualifying the different levels of the CA Exam.
This blog is about an essential learning phase of a CA student's career: CA Articleship. Students are exposed to real-world problems during this training, which helps them become Professional CA. Therefore, students need to undergo this three-year training.
Hope you all liked it. Thanks for reading.
Best of luck!!