Yes, you can pursue the Certified Public Accountant (CPA US) qualification after completing a Bachelor of Commerce (B. Com) degree. In fact, having a background in commerce, accounting, or a related field can be advantageous when pursuing the CPA US designation.
To become a CPA US, you generally need to meet certain education and experience requirements, as well as pass the CPA US exam. The specific requirements can vary depending on the jurisdiction or country in which you plan to become a CPA US. It is essential to check the specific requirements of the relevant accounting board or regulatory body in your region.
CPA US Eligibility- General Guidelines
Educational Background:
Most jurisdictions require a bachelor’s degree from an accredited college or university. This degree is typically in accounting or a related field such as finance or business administration. In some cases, specific accounting coursework or a concentration in accounting may be required as part of the degree.
Credit Hours:
Many jurisdictions specify a minimum number of credit hours in accounting and business courses. This can range from 120 (for writing the exam) to 150 credit hours (for Licensure), depending on the jurisdiction. The credit hour requirements often include a certain number of hours in accounting and auditing, business law, finance, and other related areas.
Two Categories of B. Com to Meet the Credit Hours
Category A: Candidates who passed the B. Com exam with a 1st class/division from any NAAC” A” ranked institute/university, is equivalent to 120 credit points and are directly qualified to write the CPA US exam. For licensure, they must pursue M. Com or MBA etc. to get 60 credit points from either to stand with a total of 180 credit points.
Category B: Candidates other than category A are considered to have 90 (30 for each scholastic year). To write the CPA US exam they must pursue M. Com or MBA (60 points) to get 150 credit points required for CPA exam and licensing procedures.
Brief Procedural Steps for CPA US:
CPA US Transcript Evaluation
Submit your official transcripts/certificates (B. Com etc.) to the credential evaluation service for a comprehensive evaluation. Submit the evaluation report, along with any other required documents, to the state board of accountancy. The state board will review your application, including the transcript evaluation report. If everything meets their requirements, you will be deemed eligible to sit for the CPA exam or proceed with the licensure process.
Register with a CPA US Training Institute
For your effective seamless study support and mentoring to pass the CPA exam, you need to enroll with a quality CPA training institute like Uplift Professionals who provide end to end support regarding study materials, online classes, recordings, mock exams, and 24*7 administrative support at every step.
Notice to Schedule (NTS)
The Notice to Schedule (NTS) is a crucial document when scheduling the CPA US exam. It is issued by the National Association of State Boards of Accountancy (NASBA) or a similar authority, depending on the jurisdiction. The NTS provides authorization to schedule and take the CPA US exam within a specific timeframe, generally a 6 months period within which you must sit for the exam once you provide your NTS.
CPA US Career Scope
This versatile accounting credential opens flexible career opportunities in various sectors. To name a few, these are Public Accounting, Corporate Finance, Government and Nonprofit Organizations, Forensic Accounting, Management Consulting, Information Technology (IT) Audit, Personal Financial Planning, Education and Research, Risk Management etc. at various capacities along with the option of Entrepreneurship.
Entry-level US CPAs in India can expect a salary ranging from INR 4 lakh to INR 8 lakh per annum. The salary may vary based on the organization and the city in which the individual is employed.
Mid-Level (2-5 years of experience):
US CPAs with a few years of experience can earn salaries in the range of INR 8 lakh to INR 15 lakh per annum. At this stage, professionals often take on more responsibilities and may see an increase in compensation.
Experienced (5-10 years of experience):
Experienced US CPAs with 5 to 10 years of experience can command salaries ranging from INR 15 lakh to INR 30 lakh per annum or more, depending on their roles, responsibilities, and the industry.
Senior-Level (10+ years of experience):
Senior-level US CPAs, such as CFOs or finance directors, with extensive experience may earn salaries exceeding INR 30 lakh per annum. Top executives in larger organizations may earn even higher salaries.
CPA US is a top order accounting credential of high repute across the globe. The power of CPA US is tremendously beneficial for your ultimate career growth in the accounting and finance domain.
Certified Public Accounting (US CPA) exam is the topmost international professional credential in accounting conferred by The American Institute of Certified Public Accountants (AICPA). Before taking this exam, it is very much pertinent to know your expectation on the basis of a clear-cut idea on the structural component of the US CPA exam. Since the tasks provided in each section of the US CPA exam are grouped into both skill levels and question types, comprehensive coverage of the skill levels in US CPA exam is of immense importance for a US CPA exam taker. Let’s discuss:
Structural Pattern of US CPA Exam
The US CPA Exam has following four sections which tests different knowledge domain of a CPA candidate
1. Auditing and Attestation (AUD)
2. Business Environment and Concepts (BEC)
3. Financial Accounting and Reporting (FAR), and
4. Regulation (REG)
Components Pertinent to Each Section
1. Task-Based Simulations (TBS)
TBS intends to estimate the potential to apply accounting, auditing, taxes, or regulatory knowledge in a real time business scenario. These tasks demand your ability to execute research, analysis, and recommendation for performing required action in addressing an open-ended situation in a realistic manner.
2. Multiple Choice Questions (MCQ)
MCQs quantitate the ability to apprehend the concepts of accounting, auditing, taxes, or regulatory affairs. These questions are set to receive your response on the selection of the best fit answer from the given set of options.
3. Written Communications (WC)
WC are the tasks provided to analyze your potential of communicative writing skill in relation to business concepts, financial accounting and reporting, or regulation. WC needs to write an essay in reply to an open-ended question.
Need to know the US CPA Exam Blueprint
The US CPA exam blueprint is released and updated by AICPA every year: It contains documents that outline the content of each section of the exam with detailed presentation of the testing format of questions and weightage given to tasks and topic for each CPA exam sections.
Skill Levels in US CPA Exam
As mentioned in the blueprint, each and every task provided is linked to a particular grade of skill set which have similar patterns used to measure cognitive skills. For the US CPA exam, there are four levels of skill which are as follows.
1. Remembering and Understanding (R&U)
Tasks at the R&U level need the candidate to remember or understand specific informative facts. Contingent to the particular section, the R&U chore consists of 10-40% of the US CPA exam. Examples of R&U tasks involve:
1. Definition of terminologies
2. Narrating a concept
3. Expressing a principle
4. Identifying link between two concepts.
2. Application
Understanding of concepts and problem-solving abilities in new situations are required to perform tasks at this level. Application comprises between 30-60% of the US CPA exam. Examples of application include:
1. Application of a concept to a new scenario
2. Calculation of amounts based on given information
3. To find out the right procedure to use in a given situation
3. Analysis
Tasks at this level need to identify conceptual patterns and relationships which comprises between 15-35% of the US CPA exam. Examples include:
1. Elucidating data to detect trends
2. Comparison of multiple sets of information
3. Arranging information to observe relationships
4. Evaluation
Evaluation level tasks require judging ideas or materials and comprise between 0-15% of the AUD exam. Examples of the tasks include:
1. Assessment of the strengths and weaknesses of a justification
2. Weighing up two or more alternatives
3. Opting the best remedial action
Summary
Knowledge and understanding of different skill levels in the US CPA exam will help one to apply a strength -weakness analysis to sort out the areas which need more attention in study. Concept clearing or memorizing certain areas can be done by the marking of strong or weak areas through identified skill level to provide more appropriate inputs into the designated section/areas of the US CPA exam.
Once you are familiar with the skill levels, you have to focus on 3 major areas, namely, understanding the material, practicing questions, and taking practice exams. It is to be noted that mere memorizing without clearing the concepts will not help in the exam. In addition, practicing questions and writing mock tests in a regular and dedicated manner will provide the door for you to crack the CPA US exam. So, wish you all a happy US CPA journey at its best.
The Certified Public Accountant or CPA is a credential acquired by professionally skilled accountants across the globe. To attain this credential or license, candidates must qualify the unified CPA Exam and fulfil their state board’s educational and experience requirements.
As the US CPA Exam is held at different locations across the globe all year round, choosing a suitable schedule, date, and Prometric testing centre is of paramount importance.
Are you ready to schedule your US CPA Exam, but need to find out how to get started? Find out everything you need to know to schedule your Exam below!
1. The concerned organizations associated with Exam
1.1 NASBA
The full form is National Association of State Boards of Accountancy. You can find information and guidelines on their website. NASBA issues the candidate bulletin, which helps you with test readiness and also issues your CPA score release.
1.2 AICPA
It stands for American Institute of Certified Public Accountants. The AICPA provides exam info and study materials. You can find a lot of answers to common questions on their website. They also publish pass rates.
1.3 Prometric
This organization facilitates the CPA examination. You will register for and reserve a seat at a Prometric test centre to take the exam.
There are four parts to the exam, and each one is taken separately. You must pass all four sections within 18 months. Some sections, like FAR (Financial Accounting and Reporting), are harder than others, so give yourself enough time between your exam dates to study.
2022 is a unique year for the US CPA Exam. The COVID-19 pandemic has changed the CPA test dates significantly. As of July 1, 2020, the regular testing schedule for the CPA changed. The AICPA made the test available year-round, replacing the four testing windows.
Candidates are able to register for testing throughout the year. A candidate schedules the Exam through Prometric while pays the fees to and receives the Notice to Schedule (NTS) from either the State Board of Accountancy/Agent or NASBA, depending on the provisions of the jurisdiction.
2. US CPA exam in India
Previously, to appear in US CPA exam in India, an Indian candidate had to travel abroad due to non availability of CPA test centers in India. However, this scenario has been changed after CPA testing centers started operating in India, a boon for the Indian CPA US course aspirants as it saves a lot of money incurred on travel and lodging to take the exam outside India.
Indian candidates to write the US CPA exam in India throughout the year from the following 8 Prometric centers :
1. Ahmedabad
2. Bangalore
3. Calcutta
4. Chennai
5. Hyderabad
6. Mumbai
7. New Delhi
8. Trivandrum
US CPA Exam 2022 – New Updates In 2020, the US CPA exam in India had few changes; the most prominent change was the introduction of the CARES Act to the REG section effective in Q4 2020. In 2021, the Exam will undergo additional changes, mainly to the AUD & BEC sections, with minor revisions to the remaining two sections – FAR & REG….continue reading
3. How to determine if you’re eligible to sit for the US CPA exam?
Before you start the process of scheduling US CPA Exam, you’ll want to determine if you’re eligible to sit. All CPA US course candidates who want to schedule their test, must ensure they have met all of their state’s educational requirements to sit for the exam prior to registration.
Note: Some states only require 120 semester hours to sit for the CPA Exam versus other states that require 150 semester hours.
4.How to apply to sit for exam?
Once the educational requirements are met to sit for the US CPA Exam, it’s time to apply to sit for the CPA Exam by visiting the National Association of State Boards of Accountancy (NASBA) to complete all CPA Exam-related tasks.
Note: If you are sitting for the examination in a provisionary state, you may be able to sit for the test a few months before completing all education requirements.
5. When you’ll receive your approval to sit for exam
5.1 Once you’ve met the educational requirements to sit for the US CPA Exam, chosen the jurisdiction from NASBA Website, where you’ll sit for the CPA Exam and receive approval to take the US CPA Exam. This approval is called the Authorization to Test (ATT). The ATT allows you to choose the CPA Exam section(s) you want to take.
5.2 Once you pay the required fees to NASBA for the sections you’re taking, you’ll receive a Notice to Schedule (NTS) via email.
5.3 Once you receive your NTS, you’ll need to sign into your account on the NASBA Website and print your NTS. The NTS indicates which sections of the exam you’re approved to take.
6. When you should schedule your US CPA exam?
There are a couple of ways to decide when to schedule your test. Since the examination is offered throughout the year, it’s easy to find a time that fits your study schedule. However, it’s important to not wait until the last minute to schedule your test.
The Prometric testing centres typically fill up on certain, popular, dates. So, try to schedule your assessment at least a month before you want to sit for the CPA Exam so you’re ensured you have a seat. Deciding when to schedule your US CPA Exam should be determined on a couple of factors.
If you’re motivated by a “testing date,” then scheduling your US CPA Exam early and working towards that date might keep you motivated to stay on track. If you tend to procrastinate, then it might be better to schedule your test further out so you have time to really study prior to sitting for the assessment. Another option is to study for the exam first, then schedule the exam.
7. Steps to schedule your US CPA exam:
1. Submit your CPA exam application and fees
Your application will be approved by your respective state board of accountancy or NASBA (as some states contract NASBA to process applications), using NASBA’s CPA Central.
2. Receive your Authorization to Test (ATT) in the mail
Once your ATT is received, you have 90 days to pick which CPA exam section(s) to sit for and when. Once you decide, you will then register and pay your exam fees on the NASBA website.
Note: Some states will send your ATT directly to NASBA, so be aware of this as your 90 days to choose your section(s) will have begun.
3. Verify the information on your Notice to Schedule (NTS)
Between three and six weeks later, you’ll receive your Notice to Schedule (NTS), which allows you to sit for a section of the CPA exam in the United States or at an international testing centre.
4. Schedule your CPA exam section
Now, you can schedule a testing date and time with a Prometric testing center. But know that your NTS is valid for six months only (in most states, see below for exceptions to this rule), so don’t wait to make your plans or risk paying more exam fees.
Exam date (on or before)
Targeted score release
23-Jul
10-Aug
15-Aug
24-Aug
7-Sep
15-Sep
30-Sep
12-Oct
23-Oct
9-Nov
15-Nov
23-Nov
8-Dec
16-Dec
31-Dec
11-Jan
5. Exceptions to the six-month NTS window include:
a. Texas (90 days)
b. California, Hawaii, Louisiana, and Utah (9 months)
c. Virginia (12 months)
6. The estimated CPA exam score release dates from the AICPA for 2022:
Because the BEC section may require manual scoring on written tasks, CPA exam takers in the earlier part of the year may have experienced delays.
8. How to Schedule Your CPA Exam at a Prometric Testing Centre
The CPA Exam is administered by Prometric Testing Centres, open year-round, 6 days a week, with locations across the U.S. You’ll visit Prometric.com to schedule your US CPA Exam
Prior to visiting the Prometric Website, be sure to have available:
1. Your NTS for eligibility verification
2. A primary photo identification
3. Personal calendar for choosing the date, time, and location to sit for the CPA Exam.
Things you can accomplish on the Prometric Website:
1.Schedule your CPA Exam
2. Locate a Prometric test centre
3. Reschedule your CPA Exam
4. Cancel your CPA Exam
5. Confirm your CPA Exam test date
Once you’ve determined which section to take first, it is recommended that you sit for that part of the exam immediately after studying for that same section. For example, study for FAR and then take FAR, and so on.
8. Steps to schedule your CPA Exam as an International candidate
Note: A Passport is required to test for the CPA Exam at an international location
1. Apply to sit for the CPA Exam through a State Board of Accountancy that participates in international testing. Visit the NASBA Website for more information.
2. When you receive your Notice to Schedule, you are then able to schedule your CPA Exam. The NASBA Website provides information on which jurisdictions allow for international testing. If you don’t see your jurisdiction on the NASBA Website, then that means you cannot take the CPA Exam internationally through that jurisdiction.
3. If your jurisdiction allows international testing, then you’ll pay the international fees and complete your international registration. You will be asked to provide identifying information, as well as information from your NTS.
Note: After you’ve completed the registration process for each CPA Exam section, you’ll need to wait 24 hours before you are able to schedule your Exam. Once you’re ready to schedule your CPA Exam, choose the location where you want to take the CPA Exam.
4. Choose, “Schedule an Exam.”
5. Be sure to review and agree to the policy information before proceeding.
6. You’ll enter your CPA Exam section ID number from your NTS and then enter the first four letters of your last name and choose the bottom right arrow to move ahead.
Note: It’s important to properly confirm your CPA Exam section before moving onto the next section. Also make sure you put in the correct CPA Exam section ID for each section before moving ahead in scheduling.
7. Choose your location, date and time and then choose “Complete Registration.”
9. Accept data privacy notice
While scheduling the examination, candidates would come across the Data Privacy Notice. They must accept the terms and conditions of the same. At Prometric, the data entered by candidates while registering and scheduling the examination are stored in the central U.S. database. This privacy policy guarantees the protection to all the data stored, confirming no sharing of information with third parties.
10. Important CPA Exam Score Release Information
The AICPA wants you to know the following about your CPA Exam score release date:
All dates and times are based on the Eastern Standard Time (EST) zone. Furthermore, both domestic and international candidates receive their scores according to the same score release timeline. However, international candidates may experience a one-day delay due to extra processing and validation.
For most candidates, Prometric sends exam data files to the AICPA within 24 hours after you complete your exam section. The scores from any exam data files the AICPA receives from Prometric after the AICPA cut-off dates will be released in subsequent scheduled target score release dates.
11. How to check CPA Exam scores
Of course, on the CPA Exam score release day, the most important question is, “How can I check my CPA score?” Well, your US CPA Exam results may come from 1 of 2 sources.
First, your state board of accountancy may utilize NASBA’s online score retrieval service. If so, you can visit NASBA’s website on the CPA Exam score release day to get your score (aka the NASBA Candidate Portal). Not all state boards use this service, so you must check with your state board to determine if they do. You should also consult your state board for answers to any of your other score release questions.
Second, your state board may handle the score release process themselves. In that case, you will receive your exam score from them. Your state board may post the scores on their website and then email you when you have the opportunity to find your score there. Or, your state board may mail your scores to you in a physical letter.
Some larger state boards, such as the California Board of Accountancy (CBA) or the Maryland Board of Accountancy, post scores in the accounts their candidates have for their online exam systems. Additionally, the IL Board of Accountancy also does not utilize the NASBA Candidate Portal for score releases.
Again, check with your state board of accountancy soon so you know exactly where to find your CPA test results on the CPA test score release day. When you sit for BEC, you might receive your score approximately 1 week following the target release date. This delay is the result of the additional analysis written communication tasks sometimes require. If you pass the test, you’ll receive a score notice that states your score, your credit status, and the date on which your credit earned for any passed section will expire.
In contrast, if you failed the test, you’ll receive a performance report. In this report, you’ll see your performance on each content area, as well as by Item Type. You’ll find your score notice and performance report in the NASBA Candidate Portal within 72 hours of receiving your score.
If you earned less than a 75 on the exam and a CPA Performance Report is generated, you’ll be compared to candidates who have just passed the exam.
The AICPA defines just passed as a candidate who earns a score between 75 and 80. What’s more, you’ll receive separate high-level information about your performance on MCQs, written communications (BEC only), and TBSs.
12. US CPA Passing Score
A passing score for any and all test sections is 75. This number is a scaled score. Therefore, it does not represent the percentage of questions you got right. Your test score can range from 0 to 99. Also, the AICPA does not curve exam scores.
The AICPA Board of Examiners (BOE) establishes the assessment passing score. To do so, they consider many factors such as standard-setting study results, historical trends, and exam content changes. They also receive input from NASBA, consultant psychometricians, the academic community, and licensed CPAs.
Then, the AICPA measures your test performance against these pre-established standards. Additionally, they hold every candidate to these same standards.
For AUD, FAR, and REG, your score is the weighted combination of scaled scores from the multiple-choice questions (MCQs) and task-based simulations (TBSs). For BEC, your total score also includes the scaled score of the written communications (WCs).
13. CPA Exam question scoring weight
Question Type
AUD
BEC
FAR
REG
Multiple-choice questions (MCQs)
50%
50%
50%
50%
Task-based simulations (TBSs)
50%
35%
50%
50%
Written communications (WCs)
n/a
15%
n/a
n/a
Additional CPA exam notes
The timing for your test is an important element in your timeline for becoming a CPA. If you don’t schedule correctly, your study could either be rushed or prolonged. It’s important that you get all of the details in order, as there are several steps you’ll take, each of which could require some waiting.
14. Here are some things to keep in mind that could impact your schedule
· Be sure you’ve received your NTS before scheduling
· Remember, you interact with a few different organizations and websites during this process. After your application is submitted to the State Board of Accountancy, they will review documents to confirm your eligibility.
· Once they accept your application, they notify NASBA. That is when you receive your official Notice to Schedule (NTS).
· Until you have your NTS, you should not schedule the assessment. If a delay occurs, you could be bumped off of the schedule or have your plans change unexpectedly.
15. 18-month rolling window
Don’t forget that you have 18 months to take and pass all four sections of the CPA exam. You can’t miss this time limit. You may take the sections in any order and space them however you want, but you can’t exceed that time limit. If you do, you will be forced to reschedule and retake the exam sections.
16. What section of the CPA Exam should you schedule first?
One of the most common questions candidates have when deciding to register for the test is: in what order should I take the CPA assessment ? Choosing between the four assessment sections differs by individual and by how the exam content can change each year. Consider how much content you’ll need to learn when deciding which order to take the CPA exam. In general, when considering which part of the CPA exam to take first, most people choose to do the FAR test or AUD test as their first or second choices.
17.You’re now ready to start your CPA Exam journey!
Last but not the least, you need good quality mentoring from a suitable training institute to crack the test at one go. Uplift Professionals, is a premier training institute for test providing online classes powered by reputed and time tested Gleim CPA review materials.
US CPA salary in India ? In India a fresh CPA starts with a minimum salary of INR 6 Lakh annually in a Big4 or MNC. The salary increases at higher rate compared to non-certified peers. Meanwhile, a CFO can earn more than INR 1 Cr annually.
18. CPA Exam Testing Date 2023:
19. CPA Exam: 2024 Test Administration Schedule/Score Release Timeline:
20. CPA Exam Result Date 2023:
21. Summary
By going through the above information, now you might be quite well acquainted with the steps involved for scheduling your CPA exam in 2020. As you make plans to study for the CPA, you should schedule the CPA exam, figure out the dates you want to take the test, and make sure you give yourself enough time. Remember, you interact with a few different organizations and websites during this process. After your application is submitted to the State Board of Accountancy, they will review documents to confirm your eligibility. Until you have your NTS, you should not schedule the CPA exam. If a delay occurs, you could be bumped off of the schedule or have your plans change unexpectedly. Take the exam head on with the right CPA prep.
About the top CPA US Course training institute in India, Africa, and Middle East – Uplift Pro
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Uplift Pro, is an authorized partner of Gleim in India, provides you with authentic Gleim materials, updates and Live Online Interactive Classes for CPA US by internationally experienced veteran mentors. All at an Indian Cost.
Professionals often face a dilemma when it comes to selecting their accounting career, particularly in India. There are two prestigious accounting credentials namely US CPA and Indian CA. There is no conflict between the these two courses, but some differences exist.
The pertinent question is whether a CPA without CA is really effective in an Indian context ? It often comes to mind whether one can pursue CPA without CA and do such journeys bring effectiveness? The short answer is Yes – one can do CPA US course in India without completing CA which is also very effective. To address this, let’s see the differences between the two courses.
How Effective is CPA US without CA? Must Know Differences -Uplift Professionals
Difference Between CPA US course and CA
CPA stands for Certified Public Accountant and these exams are conducted by American Institute of Certified Public Accountant (AICPA) and this course takes a minimum of 7 months and a maximum of 1 year to complete.
CA stands for Chartered Accountant. The exams are conducted by Institute of Chartered Accountants of India (ICAI) and this course takes an average of 4 to 5 years to complete.
Most important question is whether CPA US course benefits the career path or CA?
1. There is no clear winner because both qualifications helps to develop technical and accountancy, and business management skills.
2. Both CPA and CA holders tend to be equally spread across commercial and public accounting – so each qualification provides maximum flexibility to work across the industry.
Eligibility Criteria
CPA US course
CA
If you wish to appear for Certified Public Accountant Examination, you need to clear Bachelors in Commerce (B. Com) with a first-class or you need to have a Bachelor’s in Commerce and also a Post-Graduation Degree.
If you have Indian CA’s designation with B. Com than also you can appear for CPA examinations. Also, checkout Careers after B.com
If you want to appear for Indian CA Examination you need to appear for Common Proficiency Test (CPT) after appearing in Senior Secondary Examination (recognized by the Central Government of India.
CPT Examination is held in June & December every year. Hence the first step you need to do is you need to register for Common Proficiency Test 60 days
It is to be noted that CPA US course are concerned with US auditing and GAAP . CA is concerned with corporate legal needs, taxation, and other difficulties. CPAs have a thorough knowledge of GAAP, which is why many global firms located in the United States hire them.
CPAs are recognized as professionals who perform public accounting and financial services by the AICPA. Having a solid clench of accounting concepts, CPAs appear more professional, experienced, and talented in the accounting field.
Benefits of the CPA License
In is this section, let us discuss the benefits in having a CPA credential, especially for professionals who plan to work with US-based companies.
1. Firstly, the CPAs have a deep understanding of US GAAP (Generally Accepted Accounting Principles) and US federal income tax.
2. Secondly, they are comfortable with other accounting documentation used by companies that are publicly traded on US markets.
In many states, only CPAs can sign an audit report on behalf of an accounting firm. Further, some states dictate that only CPAs can provide compilation services.
Many big corporations strongly prefer their senior financial professionals to have a CPA qualification to show their knowledge and expertise in the accounting field. The CPA license is globally recognized.
Moreover, international employers understand that the content of the CPA Exam focuses on United States accounting laws, regulations, and practices.
What is US CPA ? Why and How to become a US CPA – A complete guide on CPA US Course including Eligibility, Details, Duration, Syllabus, Job & Salary, Exam & Pass rate, Structure of US CPA exam, Fees, etc….continue reading ..
Indian CA
Like CPAs, CAs (or chartered accountants) must pass the CA Exam and meet experience benchmarks that have been established in their country. CAs are experts in the IFRS (International Financial Reporting Standards) and other international accounting standards. T
The role of Indian CAs is very similar to that of CPAs in the United States. However, the main difference is that Indian chartered accountants’ services are limited to India, while the CPA US course credential is recognized around the globe.
Indian CA Eligibility for US CPA Course
Let’s review some common situations for Indian accounting professionals and how they can meet the education requirement for the US CPA.
BCOM Only
The BCOM (or Bachelor of Commerce) is a common degree for Indian professionals wishing to go into the accounting field. The degree is worth about 90 US credit hours, you will need an additional degree or other education hours to get your CPA license. You could consider an MCOM or a related master’s degree in accounting or taxation.
MCOM Only
In case of candidates with master’s degree in an accounting field such as the MCOM (Master of Commerce); they will have no problem in getting qualified for the US CPA exam. The educational level is sufficient to fulfill the general higher education requirements.
BCOM + CA
Professionals having BCOM and the CA credential, however, it is getting a lot tougher to get qualified as a CPA. In the past, some US jurisdictions considered the CA to be worth 40 US education credit hours.
With a 3-year BCOM (equivalent to 90 hours) and a CA (previously equivalent to 40 hours), candidates could reach the 120 hours required to sit for the US CPA exam in most states. Then, they could take a few extra courses to meet the 150-hour requirement to get the CPA license.
Since an overhaul of the standards in 2012, most Boards of Accountancy changed their interpretation of the CA qualification.
Most states view the CA as an “experience qualification” rather than an “academic qualification.”
3. Question Pattern: Objective Type Test for each correct answer 1 mark and for wrong answer negative 0.25
1. Exam II: Auditing & Attestation (AUD CPA Exam)
2. Duration: 4 hours
3. Question Pattern: 3 multiple choice test lets (60% weightage) & 7 short task-based simulations (40% Weightage)
1. Level II: Integrated Professional Competence Course
2. Duration: 7 Papers arranged into Two groups (Each Paper of 3 hours)Group I: Advanced Accounting, Law, Ethics & Communication, Cost Accounting, and Financial Management, Taxation Group II: Advanced Accounting, Auditing & assurance, Information Technology & Strategic Management.
2. Duration: 8 Papers arranged into Two groups (Each Paper of 3 hours)Group I: Financial Reporting, Strategic Financial Management, Advanced Auditing & Professional Ethics, Corporate & Allied Laws.Group II: Advanced Management Accounting, Information Systems Control & Audit, Direct Tax Laws, Indirect Tax Laws.
3. Question Pattern: Theory & Practical Based
1. Exam IV: Business Environment & Concepts (BEC CPA Exam)
CPA designation will open a door of wide varied options.
After getting your CPA certification you can work under various accounting fields such as International Accounting, Internal & External Auditing, Consulting Services, Forensic Accounting, Assurance services, Taxation & Financial Planning, etc.
With its global recognition, you will find the best place to work anywhere in many countries.
Similarly, CA Designation will also provide you many options in the specialized areas of accounting such as Auditing, Taxation, Corporate Finance, Corporate Laws.
After getting your CA Certification you can either work in the existing top firms of Accountancy or you can start your own independent professional practice.
Salary Comparison
CPA US course
CA
The average salary earned by the CPA Professionals (in India) is found to be INR 7,68,552 per year.
Most people move on to other jobs if they have more than 10 years’ experience in this field.
A Chartered Accountant (in India) earns a salary of INR 6,08,976 per year on an average.
Skills that are associated with high pay for this job are Evaluation and Management Auditing, Budget Management, Financial Analysis, Strategic Accounts, and Financial Advisor.
People in this job generally don’t have more than 10 years’ experience. Experience strongly. Influences income for this job.
Demand for US CPA course is Increasing in India
In the past few decades, many multinational companies have increased presence in India. Often, the financial reporting of Indian business needs to be integrated with global accounts (US GAAP or IFRS).
As a result, accounting professionals need to be familiar with multiple standards.
In the past, MNC’s relied on Indian CAs for accounting services. On-the-job trainings ensured that Indian accounts met the US GAAP standards .
However, many Indian CAs received inadequate training and supervision in US standards. Therefore, errors and inconsistency were common in accounting reports . Further, these oversights created issues with the SEC (U.S. Securities and Exchange Commission) and other US regulatory bodies.
CPAs are needed for US GAAP reporting and for general controller roles for US subsidiaries in India. Global Indian companies publicly listed in the US require US CPAs for quarterly and annual financials. They rely on CPAs for conformity with the Sarbanes-Oxley Act and other compliance reporting.
Practical benefits of US CPA course – Becoming a CPA US in India is an aspiration for many finance professionals and accountants. Most CPAs agree that becoming a US CPA completely transformed their career.Further reading.…
Conclusion
Going back to the essence of the topic, the answer is yes.
CPA without CA is quite effective in terms of career. Both courses have their own pros and cons. It is not an easy task to opt between CPA & CA as both have a successful career.
Candidates planning to work abroad or in a multinational company, should consider CPA US course. Alternatively, if you want to start your own audit practice in India, opt for CA.
CAs have an edge over CPAs in the areas of taxation and corporate laws. Professionals planning to work for a company which is traded on the US market, should consider acquiring the CPA US course.
Considering the longer duration and low pass rate in CA exam, US CPA offers a fruitful and valid option for Indian accounting professionals .
It can be stated that CPA without CA is equally effective in career building potential of accounting professionals. US CPA course can stand alone without the CA as the credential and career scope of the former is global.
US CPA Exam 2021 – New Updates In 2020, the US CPA exam in India had few changes; the most prominent change was the introduction of the CARES Act to the REG section effective in Q4 2020. In 2021, the US CPA Exam will undergo additional changes, mainly to the AUD & BEC sections, with minor revisions to the remaining two sections – FAR & REG….continue reading
About the top CPA US Course training institute in India, Africa, and Middle East – Uplift Pro
Uplift Pro is one of the top training institutes for the US CPA, US CMA, US CIA, Enrolled Agent US, ACCA UK courses in India, Africa, and Middle East. Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong backup to young ambitious students and professionals to reach their desired career destinations in an organized way.
Uplift Pro, is an authorized partner of Gleim in India, provides you with authentic Gleim materials, updates and Live Online Interactive Classes for CPA US by internationally experienced veteran mentors. All at an Indian Cost.
CPA stands for Certified Public Accountant and these exams are conducted by American Institute of Certified Public Accountant (AICPA) . The CPA takes a minimum of 7 months and a maximum of 1 year to complete.
On the other hand, CA stands for Chartered Accountant and these exams are conducted by Institute of Chartered Accountants of India (ICAI) and this course takes an average of 4 to 5 years to complete.
The key question that arises is whether the CPA benefits the career path or CA? There is no clear winner because both qualifications will help to grow the technical, accountancy and business management skills of a professional accountant. Moreover, both CPA and CA holders tend to be equally spread across commercial and public accounting – so each qualification provides maximum flexibility to work across the industry.
Still the question comes to mind which is better among the two? One might be in a dilemma in selecting the right credential CA or CPA? Since the choice between CA and CPA is a big career decision, lets make a discussion which help one to take an informed decision on the same line also to look on the advantage of Indian CAs to opt for Canadian or Australian CPAs as an alternative to CPA US course.
CPAs and CAs are both highly qualified accountants that operate within a rigorous code of conduct. Broadly speaking, CAs tend to have a greater focus on the technical aspects of accounting and a deeper understanding of complex taxation matters. CPAs focus on accounting and business management as a whole.
Every business needs a good accountant, making it one of the most stable industries you can get into. But if you’d like the freedom to explore even more job opportunities in the future, then you should consider specializing as a certified practicing accountant (CPA) or a chartered accountant (CA).
CPAs and CAs do similar things with some big differences. A CPA or Certified Public Accountant can be defined as a qualified accountant certified by the AICPA (American Institute of Certified Public Accountants), having the highest level of competence in domains like finance, accountancy, and financial information services. A CPA is an international degree and the same as a lot of significance in English-speaking countries.
On the other hand, a CA can be defined as a Chartered Accountant certified by the ICAI (the Institute of Chartered Accountant in India), having expertise in finance and accountancy. A CA is a Chartered Accountant in India, and an aspirant can enroll for this course right after clearing his class 12 examinations.
1. Key Differences Between CPA vs CA :- At a Glance
The key differences between a Certified Public Accountant (CPA) and a Chartered Accountant (CA) are provided below:
1.CPA stands for Certified Public Accountant, whereas CA stands for Chartered Accountant.
2. CPA being an international degree, is recognized worldwide, whereas CA being an Indian degree, is majorly recognized in India and to some extent in a few Middle Eastern countries
3. American Institute of Certified Public Accountants or AICPA offers a CPA course, whereas the Institute of Chartered Accountants in India OR ICAI offers a CA course.
4. A CPA course is comparatively expensive as compared to a CA course.
5. An individual holding a CPA degree will be entitled to receive more salary as compared to an individual holding a CA degree.
6. A CPA course is not that difficult as compared to a CA course.
7. A CA course takes more time to complete in comparison to a CPA course. The minimum time taken for an aspirant to clear CA is around 4 to 5 years, whereas the minimum time taken by an aspirant for the completion of a CPA course is 7 months, and the maximum taken is one year.
8. The exams in CPA are conducted online, whereas the exams in CA are conducted offline.
9. Article-ship for a minimum of three years under a Chartered Accountant firm is mandatory in CA for an aspirant to attain his or her CA license, whereas the same is not applicable in the case of the CPA course.
10. CPA is a one-time online exam, whereas CA exams are executed at 4 different levels- Common Proficiency Test (CPT), Integrated Professional Competence Course (IPCC OR IPCE), article-ship for three years under a CA firm, and final exam.
11. CPA covers International Financial Reporting Standards (IFRS) as well as US Generally Accepted Accounting Principles (GAAP), whereas CA covers Generally Accepted Accounting principles (GAAP).
2. Eligibility Criteria
A. CPA
1. You need to clear Bachelors in Commerce (B. Com) with a first-class or you need to have a Bachelor’s in Commerce and also a Post-Graduation Degree.
2. And if you have Indian CA’s designation with B. Com than also you can appear for CPA examinations.
B. CA
If you want to appear for Indian CA Examination,
1. You need to appear for Common Proficiency Test (CPT) after appearing in Senior Secondary Examination (recognized by the Central Government of India).
2. CPT Examination is held in June & December every year, so the first step you need to do is you need to register for Common Proficiency Test 60 days prior to the test i.e., on or before 1st April & 1st October.
3. Career Opportunities
A.CPA
CPA designation will open a door of wide varied options. After getting your CPA certification you can work under various accounting fields such as
· International Accounting, Internal & External Auditing
· Consulting Services, Forensic Accounting
· Assurance services, Taxation & Financial Planning, etc. With its global recognition, you will find the best place to work anywhere in many countries. See the list of Top Accounting firms
B.CA
Similarly, CA Designation will also provide you many options in the specialized areas of accounting such as
· After getting your CA Certification you can either work in the existing top firms of Accountancy or you can start your own independent professional practice.
4. Salary Comparison
A. CPA
The average salary earned by the CPA Professionals (in India) is found to INR 7,68,552 per year. Most people move on to other jobs if they have more than 10 years’ experience in this field.
B. CA
A Chartered Accountant (in India) earns a salary of INR 6,08,976 per year on an average. Skills that are associated with high pay for this job are Evaluation and Management Auditing, Budget Management, Financial Analysis, Strategic Accounts, and Financial Advisor. People in this job generally don’t have more than 10 years’ experience. Experience strongly influences income for this job.
5. Roadmap for CA to CPA Australia: Mutual Recognition Agreement
CPA Australia has a Mutual Recognition Agreement (MRA) with ICAI.
Pathway to CPA membership
The following steps demonstrate the pathway to Associate CPA membership for full members of ICAI under the conditions of the current MRA.
1. Eligibility
You may be eligible to apply for Associate CPA Australia membership if you:
1.1 Are a member of good standing with ICAI and not currently subject to any disciplinary sanctions or investigations
1.2 Did not gain entry to ICAI membership through another MRA, any other similar pathway agreements or any special member pathway
1.3 Have successfully completed the ICAI exams and the ICAI practical experience requirements
1.4 Hold a university degree recognized by the Australian Government Department of Education, Skills and Employment as being at least equivalent to Australian bachelor degree level. Or
1.5 Have at least five years’ work experience in professional accounting.
Upon verification of application, once you become an Associate member of CPA Australia, you must successfully complete the following course and subject:
· Better Practice in Governance and Accountability (Online)
· Global Strategy and Leadership subject of the CPA Program
When complete, you will advance to CPA status, receive a CPA certificate and will then be able to use the letters CPA after your name.
6.Roadmap from CA to CPA Canada: Memorandum of Understanding (MOU)
If you are a fully qualified member of the Institute of Chartered Accountants of India (ICAI), learn how you can earn your Canadian CPA designation.
CPA Canada has finalized the Memorandum of Understanding (MOU) on Reciprocal Membership Arrangement with the Institute of Chartered Accountants of India (ICAI) on behalf of the CPA provincial and territorial bodies and the Chartered Professional Accountants of Bermuda.
If you are a fully qualified ICAI member in good standing (obtained a membership through completion of the accounting body’s qualification process and not through a recognition agreement with another accountancy body), and you obtained your designation while not a resident of Canada, you may have rights to advanced standing in the CPA certification program through the MOU. Please note that MOU pathways generally lead to certification only. The right to practice public accounting may require additional examination and/or experience requirements.
1.Education and examination
ICAI members seeking their Canadian CPA designation under this agreement are:
1.1 Exempted from all CPA Professional Education Program (CPA PEP) modules, but are strongly encouraged to complete Capstone 1 and Capstone 2 (completion of these modules is not mandatory)
1.2 Required to pass the Common Final Examination
2. Experience
Assessment of experience for certification is determined by post qualification experience as an ICAI member. All members with:
2.1 More than five years of post-qualification experience and no recognized university degree are exempt from assessment of experience
2.2 More than two years of post- qualification experience and a recognized degree are exempt from assessment of experience
2.3 Applicants with less than specified post-qualification experience will be subject to a review of their practical experience obtained pre- and post-qualification.
2.4 All relevant experience must have been gained as a member or student of the Institute of Chartered Accountants of India.
7.Conclusion
It is noteworthy that Indian CAs has avenues to get both Australian and Canadian CPA without taking any extra exam. Thanks to the MRA/MOU systems. Things are not like that for CPA US course . There is no such system exist between AICPA and ICAI at present.
Considering the value and outcome, CPA US course stands atop the Canadian and Australian CPAs. Taking into account the Indian CA and CPA US course, it can be stated that both designations have their own pros and cons, it is not an easy task to opt between CPA & CA as both have a successful career.
If you are interested in working abroad or in a multinational company, then you should opt for a CPA. Alternatively, if you want to start your own audit practice in India, opt for CA. Additionally, the CA exam is less costly as compared to the CPA examination.
When taking decision it has to be kept in mind that CPA US course is a global credential where the door is wide open for a successful candidate to get job in MNCs with coveted recognition while the same door is quite narrow for an Indian CA. Hence, obtaining a CPA US course certification even after completion of CA appear highly beneficial.
What is US CPA ? Why and How to become a US CPA – A complete guide on CPA US Course including Eligibility, Details, Duration, Syllabus, Job & Salary, Exam & Pass rate, Structure of US CPA exam, Fees, etc….continue reading ..
About the top CPA US Course training institute in India, Africa, and Middle East – Uplift Pro
Uplift Pro is one of the top training institutes for the US CPA, US CMA, US CIA, Enrolled Agent US, ACCA UK courses in India, Africa, and Middle East. Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong backup to young ambitious students and professionals to reach their desired career destinations in an organized way.
Uplift Pro, is an authorized partner of Gleim in India, provides you with authentic Gleim materials, updates and Live Online Interactive Classes for CPA US by internationally experienced veteran mentors. All at an Indian Cost.
