In the present era of cut throat competition in almost of all spheres of life, it is imperative for every professional to be a true professional in their respective area of profession. In other words, a professional is an expert who is a master in a specific field.
A Chartered Accountant is also one such professional who has attained the CA certification by undergoing several levels of examinations and has served 3 years/ 3 ½ years (as the case may be) of articleship training under a Chartered Accountant.
Importance of Articleship
Theoretical knowledge or practical knowledge alone cannot make you a perfect professional. Both theoretical and practical should go hand in hand to acquire the qualities and intellectual skills of a professional. As swimming cannot be learnt just by reading a book on how to swim, one has to practically jump into the waters to learn swimming, likewise just writing examinations will fail you in the application of theory in practice unless you have done the application practically.
The age old adage that – Practice makes a man perfect still holds true. Practical training inculcates a disciplined attitude for hard work and develops the necessary skill for the application of theoretical knowledge to practical situations.
One of the most important calibres that are inculcated in the CA’s during their training days is the effective utilisation of limited time, required to be allocated between their work and study in an effective manner so that the best results could be gained for the time utilised. Thus, it provides the exposure of practical application of basic principle of economics which further helps them during their whole life.
Being into the place of work also makes you aware of all the situations and contingencies and suggests the ways of taking decisions and the manner of reactions in unexpected situations. Thus, this helps in developing communication skills and to articulate effectively with the client and the society.
Big 4 Firms also hire CA Students as Article Trainees and to know more about the kind of Training imparted in the Big 4′s – read Ayush Gupta’s views on the kind of Training that was imparted to him during his Articleship at Deloitte
Managing Studies with Articleship
The Question that usually comes to the mind of all CA Students is how to manage Articleship with Coaching Classes. And this question can be answered by the Economics law of managing things at the time of scarcity.
As the time available with you would be less as you would be undergoing Articleship along with Coaching Classes, you’ll have to learn to manage time which in-turn would make you a good manager and would certainly help you in the long run.
You’ll have to learn to manage your time by opting for only those Coachings which are necessary and preferring to self study theoretical topics like Audit which would help you save time. During your practical training, you would have learnt so much by practicing on the job that you can easily cover up the theoretical topics by doing self study.
Importance of Articleship Training after completing CA
Articleship Training not only helps you clear CA Final Exams but also helps build a handsome career. In case you intent to opt for a Job, the Interviewer in the first 2 minutes of the Interview would be able to judge whether you have practical knowledge and have done proper Articleship training or have just cleared the exams by mugging up topics and appearing for exams. All Companies have a heavy preference for Students who have done proper training as they can be put on the job from the 1st Day.
ICAI also allows CA Students to pursue their Training in Big Companies in the Industry as well to help students gain an inside view of how Big companies operate. However, this option is only available to students serving their last year of Articleship. This is known as Industrial Training and you can refer our Article on CA Industrial Training to read about the benefits. Many Students have now started opting for Industrial Training as Companies also have a heavy preference for Students who have done their Industrial Training in Big Companies