What is Articleship in CMA ?

CMA articleship refers to the practical training one has to go through in order to complete his/her CMA course and be eligible to become an official member of The Institute of Cost Accountants of India. It is gaining practical experience by working in an organization or Practicing Cost Accountant as a trainee and learn to apply his/her theoretical knowledge to practical use in a professional field. Every student pursuing a career in CMA has to do his practical training also known as CMA articleship, in accordance with the guidelines provided by ICMAI (The Institute of Cost Accountants of India

Who is Eligible for CMA Articleship?

Every student having registered for the intermediate course on or after 11th February, 2020 shall be required to undergo practical training for a period of 15 months before the date of declaration of examination result of both or remaining group of final examination to the satisfaction of Council in any one or more of the organization(s) specified in ‘Appendix A’, and in areas as specified in ‘Appendix B’ for the recognition for training [UDIN is mandatory wherever applicable] However, a student to become eligible to appear in the final examination must satisfy the criteria on such cut-off date as may be specified from time to time. The cut-off date for certification of Form T-5 shall be 31st August for appearing in December examination which shall specify completion of at least 10 months of training as on that date. The cut-off date for certification of Form T-5 shall be 28th /29th February for appearing in June examination which shall specify completion of at least 10 months of training as on that date.

Organizations Recognized for the CMA New Practical Training Scheme-2020 (Appendix – A)

A Cost & Management Trainee shall undergo practical training under:

1. Practicing Cost Accountant or
2. a firm of Cost Accountants or
3. In any of the following organizations:

1. Central/ State Government/ Semi-Government/ Public Utilities.
2. Banks/Insurance/ other Financial Institution
3. Public Sector Undertakings
4. Universities, Management Institutes and any other recognized educational institute
5. Co-operative Societies and NGOs
6. 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.
   CA/CS articleship will not be set off/entertained/ not be recognized for CMA Practical Training.
7. Management Consultant in individual capacity depending on the size of the firm, nature of duties handled by the applicant related with cost and management accounting/ financial accounting/ taxation/ MIS or of similar nature, size of the client companies etc.
8. Any other organization(s) with a turnover of Rs.25 Lakhs in case service sector or `50 Lakhs in case of other than service sector.
9. Any other organization(s) as approved by the Council.

Recognized areas for the CMA New Practical Training Scheme-2020 (Appendix – B)

CMA Articleship Registration Process

A student desirous of undergoing Practical Training can approach any Organizations as defined in ‘Appendix A or Practicing Cost Accountants. A student after joining an Organization/Practicing Cost Accountants has to intimate the Institute within 30 days from the date of joining about the fact of his/her Training by following the below mentioned procedures:

• Online Submission of Form No. T-1 (with UDIN) in case of PCMA/firm of Cost Accountants
• The documents that need to be submitted along with Form T-3 are as follows:
• Scan copy of Experience certificate (stating designation, area of work &aqmp; duration), duly signed by the Competent Authority of the organization in which employed/were employed
• Scan Copy of Audited balance sheet of employers or any other proof of turnover, wherever required (A letter mentioning the turnover of the company on the letterhead of the company, signed with seal)
• Scan Copy of current salary slip duly attested by employer
• At the time of Registration for Practical Training through Form T1 & T4, Registration Fee of Rs. 2,500/- is to be paid
• Online Submission of T-4 in case of training with recognized Organizations as specified in ‘Appendix A’
• Online Submission of Form T-5 before applying for both or remaining group in Final Examination.
• All the forms T-1, T-4, T-5, relating to Practical Training can be downloaded from the link: https://eicmai.in/Training-forms-new/login.aspx
• In order to help the students. Institute will also maintain database of organizations and firms interested to impart practical training to the students, in its website www.icmai.in

Process of submission of Forms related to the Practical Training Scheme - 2020

The entire process for submitting the Forms related to the Practical Training Scheme is online. No Offline Forms/Hard Copies related to the Practical Training is entertained. The required link for the same is as follows: https://eicmai.in/Training-forms-new/login.aspx

CMA Articleship Salary

Employer	1st Year	2st Year	3rd Year
Practicing Cost Accountant/Firm of Cost Accountants	₹ 2,000	₹ 3,000	₹ 4,000
Corporate/ Organization	₹ 1,500	₹ 2,000	₹ 2,500
Cities/Towns with Population < 4 Lakhs	₹ 8,000* / ₹ 10,000**	₹ Rs.10,000* / ₹ 12,500**	₹ Rs.12,000* / ₹ 15,000*

• ** Metropolitan and ‘A’ Grade Cities
• * ther Places
• This is effective from 1st October, 2018 onwards. 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/employer 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

Claiming Exemption from the CMA New Practical Training Scheme – 2020

A student of the Institute who is working or has already worked in any of the recognized Organizations as given in ‘Appendix A’ and in any of the recognized areas as given in ‘Appendix B’, can claim exemption from Practical Training by following the procedures given below:

• Submission of Online Form T-3 to Directorate of Training and Placement of the Institute along with a Payment of Rs. 4,500/-
• The students whose applications are received and found eligible on or before 31st May will be eligible to appear for June Examination and 30th November will be eligible to appear for December Examination respectively.
• A student can seek exemption from Practical Training immediately after joining the Intermediate course, or at any time during the course of studies subject to dates given above if the student is otherwise eligible.

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 above. This information has been announced for new syllabus only and the clarity regarding time covered under practical training for CA or CS has not yet been given by ICMAI.

Contact details of Practical Training
You may drop in an email at training@icmai.in or call at 033-40364750
For more details, kindly visit the Institute website: www.icmai.in

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