The Most Common Questions
The students are required to undergo the following training’s :
I. “Communications and Soft Skills” for Intermediate students
II. Compulsory Computer Training for Intermediate students for 100 hours.
III. 7 days “Industry oriented Training Programme” after enrolling for Final course.
IV. Modular training after passing Final course.
V. Practical training, as provided in regulations.
Students for being eligible to make an application to appear in the final examination must:-
(a) complete at least 6 months of Practical Training in any one or more of the organization specified in Appendix A, and in areas as specified in Appendix B;
I am already under training/ employment but I will not be completing 6 months of training/ job by 30th March/30th September. Shall I be eligible to appear for examinations in June/December?
I have already sent my T1/T4 form to the Training department and my 6 months are also completing before 30th September 2013. Am I supposed to intimate the Institute again after completion of 6 months as my training period is more than 6 months?
What is the procedure for intimating to Institute of practical training under a firm of Practicing Cost Accountant/ organization?
Submit the intimation at the earliest after filling Form T1 or T4. All the Forms are available in the website of the Institute at http://icmai.in/training/trainingforms
I had already completed 3 years/6 months of training but failed to inform the Institute about the same. Can I inform the Institute now?
I am working in an organization for last 2 years. Whether I am eligible for EXEMPTION from practical training?
(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. 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. viii. Management Consultant in individual capacity depending on the size of the firm, nature of duties handled by the applicant related with cost/ management accounting/ financial accounting/ taxation/ MIS or of similar nature, 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. x. Any other institution as approved by the Council
(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 xiii. Insurance xiv. Valuation xv. Financial Services xvi. Teaching in Finance, Accounts, Costing, Taxation and Management. xvii. Management Consultancy Services as defined in appendix 6 under Regulation 111 of CWA Regulation, 1959. xviii. Engineering Services involved in production of power or any manufacturing activities, Project Planning & Management, Quality Assessment, and Supply Chain Management. xix. Any other areas approved by the Council.
1. Experience certificate (stating designation, area of work & duration), duly signed by the Competent Authority of the organization in which employed/were employed.
2. Audited balance sheet of employers or any other proof of turnover (A letter mentioning the turnover of the company on the letterhead of the company, signed with seal)(Minimum Turnover : for Service sector Rs. 50 lakhs and for any other organization Rs. 1 crore or more)
3. Copy of current salary slip duly attested by employer.
Send all the documents by post to :- The Director (T&P), ICAI, 4th floor, CMA Bhawan, 3, Institutional Area, Lodhi Road, New Delhi – 110 003.
If I have work experience of 6 months (or more) before taking admission into the course, then can I claim exemption for that period?
I registered with Institute on or after 1st January 2008 but before registration for CMA course, I was undergoing Articleship training with Chartered Accountant or Firm of Chartered Accountants. Whether, articled training period with Chartered Accountant or Firm of Chartered Accountants will be recognized for the purpose of practical training period?
|Employer||1st year||2nd year||3rd year|
|Practicing Cost Accountant/ a firm of Cost Accountants||Rs. 2000||Rs. 3000||Rs. 4000|
|Organization||Rs. 4000||Rs. 5000||Rs. 600|
Note: The stipend indicated above is minimum prescribed by the Institute. However, Practicing Cost Accountant/a firm of Cost Accountants/ Organizations may fix higher stipend. The stipend under this regulation shall be paid by the principal to the trainee either by (a) a crossed a/c. payee cheque every month or (b) by depositing the amount every month in an account opened by the trainee in his own name with a branch of the bank to be specified by the principal. The rate of stipend shall be applicable w.e.f. February 2013.
a. A Cost trainee shall be entitled to one day’s leave with pay per month excluding the normal holidays.
b. The trainee shall be eligible for one month leave without pay for appearing in the examination of the Institute.
c. The trainees availing leave in excess of the period of leave to which he is entitled to shall be required to undergo training for a further period equivalent to the excess leave taken by him.
The following Documents should be sent to Delhi Office within 30 days from the date of change of employer:
(i) Demand Draft of Rs. 1000/- in favour of The Institute of Cost Accountants of India payable at New Delhi;
(ii) Original copy of the Experience Certificate from Previous employer mentioning duration of Experience with areas ;
(iii) New Form T-1/T4 for intimation of training with current Employer.
1. Employer certificate duly signed by Competent Authority mentioning period of training and areas covered by the Cost & Management Trainee during training with the particular Organization; and
2. Where training from more than one Organization is allowed by the Institute, all certificates issued by respective employers.
3. Covering letter mentioning name and registration number of the student.
I have applied for exemption from training/intimated for training in T1/T4/Deed? How to confirm the acceptance of my application by the Institute?
100 hours of Computer Training is required for appearing in both or remaining group of Intermediate course. Exemption from Computer Training.
A student having passed Bachelor of Engineering or Post Graduation in Computer Science or Computer Application or MBA (Systems) or PGDCA or MCA from Indian Institute of Management or a recognized University or an Institute recognized by All India Council for Technical Education or Department of Information Technology [formerly Department of Electronics (DOE)], Government of India, ‘A’ level Certificate Course of National Institute of Electronics and Information Technology (formerly DOEACC) may be exempted from Compulsory Computer Training.
Students/Members of the Institute of Company Secretaries of India (ICSI) having completed the required IT training of ICSI would be exempted from under going the prescribed hours of computer training of the Institute of Cost Accountants of India subject to production of evidence of completion of training from ICSI.
CIMA/ACCA members are also eligible for exemption from Computer Training.
CMA Bhawan, 3, Institutional Area, Lodhi Road,
New Delhi- 110003
Ph- 011 24666136/24666137