What is Articleship in Chartered Accountant Course?
Articleship is a prerequisite for the CA degree and can be done after passing one of the Intermediate Groups or both and also after successfully completing the Integrated Course on Information Technology and Soft Skills (ICITSS). Candidates need to complete a total duration of 3 years of Articleship, during the last year of which students can join for the Industrial Training. You need to complete at least 2 ½ years of Articleship before you appear for any of the Final Groups.
The purpose of Articleship is to help potential CAs learn to take on the responsibilities with specialized insights on complex and varied areas of accounts and finance. Students can log in and get to the ICAI portal, search and apply for Articleship with companies registered with the Institute. Once you apply, you will be scheduled for an interview with the company following which you will be offered the Articleship. During this period, you will receive a payment that is likely to vary from company to company and assist in the daily working of the firm.
What you get to learn during Articleship
These 3 years are the time when you gain the required practical knowledge to handle complex issues as a competent CA.
Areas, where to gain expertise during your Articleship, are:
- Audit: The first phase that most candidates cover is to carefully audit all transactions and point out anomalies. You will gain hands-on knowledge of errors and problems that clients are likely to come up within their accounting systems and point them out.
- Accounting: You get to handle the latest accounting software like Tally and Busy for complex and varied accounting purposes. These are complex software and will facilitate your learning about business management and reporting abilities.
- Case studies for Finals: CA Finals involves answering case studies that are based on real-life situations. Areas that are covered in the case studies include Taxation, Auditing, and Management. Undergoing Articleship for 3 years helps candidates gain the much-needed knowledge in all such areas and answer such questions correctly and precisely.
- Communication skills: Interacting with clients during your Articleship period can help you develop your presentation as well as interpersonal skills. You will learn how to present your knowledge and skills well to the maximum advantage of the firm that you are representing.
- Develop professional skills and attitude: During this practical learning period, you get to meet the complete spectrum of people representing clients and their associates. Be it the board of directors or the clerks in the office, you will know how to deal with each individual with professionalism and the right attitude.
- Time management: Articleship is equivalent to working fulltime in an office that may also involve travel to meet clients and carry out the task of auditing. While doing all of this, students are also expected to make out time for self-study and family. In short, this is the phase where you will learn how to balance work, personal and family time while being punctual and efficient in delivering professionally.
Where you do your Articleship will have a lot of impact on your career later on. There is the option of the Big 4s, Big Firms, and Mid-sized firms. Make your pick for knowledge and not convenience.