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.
ACCA stands for Association of Certified Chartered Accountant is a Chartered Accountant degree which is given by Association of Chartered Accountant with headquarters situated at London. The role of Work is related to inspection of accounting services to the public, private entities
CPA US course stands for Certified Public Accountant and the degree is provided by the American Institute of Certified Public Accountants (AICPA). The field of work is related to license to accounting services to the public. To maintain the law and procedure these specialized degree holders are required to guide individuals, Small and mid-size firms and MNCs. When pertinent question arises which course, are you planning to do further, ACCA certification or US CPA exam? Will you be aiming to do both in the future? If you are confused about your plans just have a look in this article.
1.What is ACCA?
The ACCA or the Association of Chartered Certified Accountants is a body that recognizes the qualification of a CA. ACCA is a global body based in Glasgow UK which works in the interest of the public to ensure that the chartered accountants work according to the principles-based and ensures that the regulations set are properly followed.
The ACCA offers the certification in chartered accountancy and the exam known as ACCA is most recognized in the commonwealth countries. The degree was given with the intention to give protection.
The ACCA Exam consists of 14 papers and emphasis is given on the core values of integrity, accountability, diversity, and innovations, etc. The degree is accepted globally across 180 countries. The Degree has its own reputation of one hundred years and the professionals have provided services to more than 7500 employers across a different field. The 3 important steps of ACCA are applied knowledge (Diploma), Applied Skills (Advance Diploma) and essentials.
Both ACCA and CPA US course are highly qualified Accounting courses designed for professionals who are interested in making a career in Accounting, Taxation, Auditing, and Finance.
2.What is CPA US course?
The American Institute of Certified Public Accountants (AICPA) holds the Certified Public Accountant (CPA US course) exam which is recognized across the globe for its competence. The AICPA is the largest accounting body in the world and anyone who wishes to work in the US or has to work with US-based clients requires taking the examination held by the AICPA. 55 states in the US have been granted the license to conduct the CPA certified exams. Each state has its own licensing requirements and pattern of the exam as none of them is controlled by any centralized body.
CPA US course can also choose any stream in Finance Field starting from Management Accounting, Financial Analyst, Auditing, Taxation, Finance Controlling, etc. The course itself includes Uniform Certified Public Accountant Examination organized by AICPA and after the exam is passed there are certain procedures which include certain ethics and the candidates have to abide by the regulatory framework guided by the respective governing body.
The professionals are entitled to Audit for Federal and State levels and can act as consultants who could guide several business houses and can act as consultants of several small and mid-size firms, for tax and audit purposes also.
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. Please follow the link for further reading.
3. CPA US course vs ACCA: Application & Qualification
The most significant differences between ACCA and CPA are in the qualifications and the application processes.
3.1 CPA US course
For US CPA course candidates must have a minimum of a 4-year bachelor’s degree and preferably a master’s degree to get a US CPA license. Almost all jurisdictions require CPAs to have at least 150 credit hours of higher education, equivalent to 5 years of full-time study (or a US master’s degree).
Before you can even sign up to take the exam, your state board will review your educational background. Then, once you are approved for the exam and receive your Notice to Schedule (NTS), you are on your own to get prepared. It is to be noted that the US CPA exam is a “qualifying exam,” not a “program.” In programs such as the ACCA and CIMA, you can get textbooks from the exam administrator, follow a syllabus, and study accordingly. CPA State Boards do not provide any courses or study materials for the US CPA Exam. In addition to passing the US CPA Exam (and an ethics exam in some states), candidates must also have 150 hours of education and at least one year of qualified experience.
3.2 ACCA
The ACCA entry level is much lower than the CPA US course. Plus, the ACCA has two entry points depending on your education and experience. The ACCA labels these levels as “ACCA Foundations in Accountancy” and the “ACCA Qualification” level.
The foundation level is for people who are new to accountancy and don’t have an education threshold. It’s also the best place to start for people working in finance but who don’t have adequate education levels or qualifications to apply for higher-level positions. The exams at the Foundations level test your understanding of basic accounting principles. Basically, the ACCA feels that you should have mastered these topics before going for the ACCA Qualification exams.
If you’re passing the ACCA exam after CPA, you probably already have this level of knowledge. If you have more experience and/or education, you can start at the ACCA Qualification level.
The ACCA’s exact requirements state that you can begin at this level “as long as you have 3 GCSEs and 2 A Levels in 5 separate subjects including maths and English.” Basically, this means you need a bachelor’s or master’s degree. However, if you only have a high school diploma, you can begin the ACCA Qualification exams if you pass the ACCA Advanced Placement Examination. This test analyzes your proficiency in the material that appears in the ACCA Foundations of Accountancy program.
Unlike the US CPA, once candidates are registered, ACCA takes an active role in preparing you for the exam by providing study guides and sample exam papers. They also maintain a database of ACCA Approved Learning Partners. In addition to passing all papers for the ACCA Qualification, candidates must also take the Ethics and Professional Skills module. Additionally, they need to gain 3 years of appropriate work experience before calling themselves ACCA-certified.
4. CPA US course vs ACCA: Exam Content and Format
4.1 ACCA
The ACCA Qualification has several smaller exams to pass, called “papers.” The ACCA exam is divided into 13 papers as follows:
Applied Knowledge
1. Accountant in Business
2. Management Accounting
3. Financial Accounting
Applied Skills
1. Corporate and Business Law
2. Performance Management
3. Taxation
4. Financial Reporting
5. Audit and Assurance
6. Financial Management
7.Strategic Professional – Essentials
8. Strategic Business Leader
9.Strategic Business Reporting
Strategic Professional – Options (complete 2)
1. Advanced Financial Management
2. Advanced Performance Management
3. Advanced Taxation
4. Advanced Audit and Assurance
Candidates can apply to waive some papers based on their education levels. Or, they can take the “Certified Accounting Technician Qualification” assessment to waive some papers according to practical experience.
However, please note that you can only receive a maximum of nine exemptions for the Applied Knowledge and Applied Skills papers. Plus, you cannot receive any exemptions for the Strategic Professional portions. So, all candidates must sit for those papers. If you think you might qualify for any exemptions, you can use this tool from ACCA Global to find out. Some—but not all—papers are computerized. Furthermore, the exam is offered four times a year at more than 500 testing centres worldwide.
The exam is 100% computerized consisting of multiple-choice questions and task-based simulations (similar to case studies). BEC has an additional section for written responses or short essays called Written Communications.
Grading is mainly computerized, even for written communications. You can choose to take the 4 parts separately, 2 at a time, or even 4 at the same time. Although you had to wait for specific “CPA testing windows” in the past, you can now sit for the exam any time during the year. You take the exam at Prometric testing centres, which are located throughout the US and several other countries including India.
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
5. CPA US course vs ACCA: How Much Time You Need To Pass?
5.1 ACCA
Given the number of papers to pass, candidates generally need 3 to 4 years to complete all papers and become ACCA members. Candidates can sit for the papers during four exam sessions held each year.
However, candidates can only take four exams per session and a max of eight papers in a year. So, in theory, you could pass all papers in 2 years. But because of logistics issues, most need 3-4 years. Plus, candidates need 3 years of work experience before receiving their ACCA credentials.
5.2 CPA US course
Most candidates aim to pass the US CPA exam within 12 to 18 months. After all, once candidates pass the first of their 4 US CPA Exam sections, they must pass the other 3 within 18 months. Candidates who have the time and commitment to study can take all exam parts in one go.
In that case, you can complete the exams within 3 to 6 months. However, please note that this timeframe requires a substantial study commitment. If you might go this route, I suggest reading about how long it takes the pass the US CPA Exam.
How to surmount the US CPA exam – the integral steps |Uplift Pro :-The unified US CPA exam in India conducted by AICPA is the gateway to achieve the hallmark in public accounting in a global perspective. The strategic steps to pass the US CPA exam in India include…continue reading…..
6.CPA US course vs ACCA: Reciprocity and Exemptions
6.1 ACCA
If someone is already a CPA, can they become an ACCA member? Well, ACCA is more generous in this regard — ACCA grants exemptions to AICPA members for several of the papers. If you are a holder of the US CPA credential, you are subsequently a member of the AICPA. Moreover, AICPA members may be able to skip the Foundations of Accountancy papers. You can check out the exemptions CPAs will receive who are interested in becoming ACCA members.
6.2 CPA US course
The US has mutual recognition agreements with 8 accounting bodies in the world. To gain a US CPA license, their members can take a simplified version of the US CPA exam known as the IQEX. However, please note that the ACCA is not among these 8 accounting bodies. Therefore, there is not an MOU for CPA, and ACCA and ACCA members do not qualify for CPA exemptions. So, if you hold an ACCA certification, you are MUST complete the CPA requirements, including 150 hours of college education (5 years).
Many ACCA members have passed the US CPA exam. However, since ACCA does not have a recognition agreement with either the National State Boards of Accountancy (NASBA) or the AICPA, ACCA members with advanced degrees find it less challenging to qualify to sit for the US CPA Exam. ACCA members with master’s degrees or higher must also have a minimum number of accounting and business courses (this number will vary by jurisdiction, and there are 55 in the United States).ACCA members without advanced degrees will need to seek education from a degree-granting institution.
7. CPA US course vs ACCA: Which is Easier?
What test is tougher– ACCA or CPA? Honestly, that depends on what you consider to be tough. Is ACCA harder than the CPA? In some ways, yes. But in other ways, no. Deciding which one is tough – US CPA or ACCA – there are several factors to consider.
First, the CPA US course has fewer sections (4 exam sections vs 13 papers for the ACCA Qualification), but they are all hard. In fact, the US CPA pass rate hovers around 45-55%. Likewise, the ACCA estimates their mean pass rate is about 55%. However, CPA candidates can benefit from studying with a review course. Such review courses are now also available for ACCA.
1. Recognized in the US and anywhere with US regional offices
2. 55 jurisdictions with complex licensing requirements
3. High entry barrier: master’s level and/or 150 hours of higher education
4. Exam offered year-round
5. Exam sites in the US + multiple other countries
6. 4 parts
7. 12-18 months to complete exam, plus an additional 1+ years of work experience (more in some jurisdictions)
Conclusion
Coming to that inherent question, ACCA vs CPA… Which One Should I opt for ACCA vs CPA ? The US CPA is arguably the most prestigious accounting qualification.
The entry barrier is high with an equivalent of a master’s degree together with strict working experience requirements. Because of these stricter requirements, the CPA Exam itself has fewer parts than the ACCA — only 4 sections compared to 14 papers for the ACCA. Some jobs can only be performed by a CPA. For example, only CPAs can sign audit reports under the US GAAP standards. Besides, only CPAs can launch a CPA firm in the US. Therefore, the CPA title has distinct advantages if you are interested in public accounting in the United States or American firms.
For ACCA, the application process is much simpler, and the entry barrier is lower than the CPA. However, it takes years to complete the studies and obtain membership. While ACCA is globally recognized, it is not as highly regarded outside the UK and Commonwealth countries
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.
In the field of accounting, one can get easily confused amid the sea of ellipsis. But a hard core conceptual understanding of certain accreditations is vital to look for a licensed tax professional to guide you through your financial needs intelligently. When making your decision about whom to work with, you may wonder about the differences between an enrolled agent (EA) and a Certified Public Accountant (CPA US Course).
Both CPA and EA are credentials that should uphold stringent ethics and standards. EA is regulated on the federal level and CPA US Course is regulated on the state level. As CPAs are licensed at the state level means they have limited scope of practice within those jurisdictions.
An enrolled agent and a certified public accountant are both tax experts and the work they do is often similar, but there are some differences between an EA vs CPA US Course.
To understand the difference between an EA and a CPA, you should start with the responsibilities and day-to-day work of each. Here’s an overview of both.
A. What is an EA (Enrolled Agent)?
EAs are federally authorized tax practitioners who can
1. Represent taxpayers before the IRS on matters ranging from collections to IRS audits and appeals. Additionally, they often:
2. Provide tax advice
3. File tax returns for individuals, partnerships, corporations, estates, trusts, and other entities with tax-reporting requirements
4. To become an EA, candidates must pass a three-part test, apply to the IRS, and pass a background check.
To maintain the EA designation, they must
1. Complete 72 hours of continuing education every three years.
2. Comply with ethical standards established by the Department of Treasury.
3. Many EAs are also members of the National Association of Enrolled Agents, which has even higher standards for continuing education, as well as its own Code of Ethics.
B. What is a CPA US course (Certified Public Accountant)?
CPA US Course are state-licensed accounting professionals who may be:
· Auditors
· Accountants
· Business advisors
· Corporate accountants and executives
· Tax consultants
· Forensic accountants
· Financial planners
To become a CPA, candidates must
1. Pass a four-part exam and comply with education and experience requirements. The exam is the same no matter which state it’s taken in, but every state has its own education and experience requirements. Most require at least a bachelor’s degree and at least two years of public accounting experience.
2. Each state also has its own rules for maintaining the license, but most require at least 40 hours of continuing education per year, with four of those hours covering ethics.
3. Each state’s board of accountancy, CPA society, and other regulatory agencies have ethical rules and regulations that CPAs must abide by.
4. Many CPAs are also members of the American Institute of CPAs, which has its own Code of Professional Conduct.
C. Comparison: EA Vs. CPA US course
Enrolled agents, or EAs, :- are tax preparers the IRS has authorized to represent taxpayers. Enrolled agent clients include individuals, partnerships, corporations, estates, trusts, and any entities with tax-reporting requirements.
Certified Public Accountants, or CPAs :- are licensed accountants with the statutory privilege to sign an audit report. They can prepare financial accounts, provide audit services, and advise clients on tax matters. Normally, the clients of CPAs are businesses requiring both accounting and tax services.
The steps to becoming an EA or a CPA US Course are quite similar. The main difference between these two processes is the manner in which you fulfill the basic requirements.
C.1 The Exam Eligibility
In order to become an enrolled agent, you must either take the Special Enrollment Exam (SEE), also known as the enrolled agent (EA) exam, or have previous work experience at the IRS. While passing the exam is much easier once you’ve acquired several years of tax experience, there is no prerequisite for taking the EA exam. Therefore, you could sit for it during college if you wanted. You just need a Personal Tax Identification Number (PTIN) to schedule the exam.
In contrast, you must meet educational requirements to take the US CPA Exam. The various state boards of accountancy establish the US CPA Exam application and licensure requirements, and almost everyone expects you to have 120 credit hours of education to sit for the exam. Yes, this requirement is equivalent to a bachelor’s degree, and many state boards also prefer you have your degree in accounting.
C.2 The Exam Content
The EA exam has three parts, and most people find the first and third parts to be the easiest because some experienced tax professionals can pass these parts with minimal studying. Conversely, almost everyone must work hard to pass the second part–Businesses– so it’s naturally considered the hardest.
On the other hand, the US CPA Exam has four parts and much broader content. The section equivalent to the EA exam is Regulation (REG), and only about 70% of the REG content directly relates to the EA exam. The rest covers other topics such as business law.
Still, when we compare REG’s taxation section to the EA exam’s taxation section, we uncover quite a lot of overlap. In fact, the amount of shared content can help candidates earn both certifications at the same time. Candidates who have trouble passing REG can shift their focus to passing the EA exam and earning the EA designation. Once they’ve done so, they can use their expanded tax knowledge to return to the US CPA Exam, pass it, and get their CPA license as well.
C3. The Experience Requirement
If you pursue the enrolled agent designation via the EA exam, you don’t have to meet an experience requirement. You simply must pass the exam. You’ll receive your exam results immediately, and once you’ve passed; you can apply for enrollment. The IRS explains that processing your application may take as long as 60 days (90-120 days if you’re a former IRS employee). Also, as part of their evaluation of your enrollment application, the IRS will conduct a suitability test that includes a review of your personal tax compliance.
To complete your journey to the CPA license, once you’ve passed all four US CPA Exam sections, you must meet the experience and education requirements. The 150-hour education requirement expects you to earn an additional 30 credit hours on top of your base 120 hours (120 + 30 = 150). Satisfying the experience requirement usually involves working in an accounting position for 1-2 years. While there could be exceptions to the rule, CPA licensure generally has a much higher barrier of entry than the enrolled agent credential.
C4. The Career and Compensation
EAs usually don’t work for a firm. They have their own clients and therefore can work at home with flexible hours. Many CPAs start out in audit firms, but as they accumulate experience, they can launch their own CPA firms and have their own clients.
According to Payscale.com, enrolled agents typically make between $33K to $80K a year, while CPAs make between $49K to $115K per year. Enrolled agents also have the opportunity to earn extra money during tax season. Finally, it is to be noted that the IRS puts both EAs and CPAs on the same level.
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.
D. Value Addition
D.1 The Advantage of EAs
1. EAs are tax specialists and work on tax matters only, so they can specialize in certain areas such as tax preparation or tax resolution. The EA designation is a federal credential. Since the enrolled agent credential comes from the IRS and includes the unlimited right to practice on a federal level, EAs can work with clients who have filings all across the United States.
2. Enrolled agents are a more affordable option than tax attorneys. Usually, enrolled agents can perform the same services as a tax attorney for a much lower price. For example, enrolled agents can represent their clients in civil resolution cases.
3. Taking the EA exam is faster than taking the US CPA Exam. EA exam only has three parts, while the US CPA Exam has four.
4. The EA questions are easier, so most candidates only need a few months to pass the EA exam. the benefit of the EA exam is that the sooner you can get licensed, the sooner you and your clients can enjoy your improved status with the IRS.
D.2 The Advantage of CPAs
1. CPAs can handle both accounting and tax matters.
2. CPA’s or CPA US Course expertise mainly lies in accounting and auditing, but most can provide tax filing services as well. This combination is attractive to small businesses that need both audit and tax services, preferably from the same team.
3. CPAs can take a holistic approach for better tax planning.
4. For businesses, hiring a CPA is the more sensible option because someone who “knows the numbers” can make better tax plans.
E. EA vs. CPA
EAs and CPAs are both knowledgeable, experienced professionals who are required to maintain high ethical standards. The primary difference between an EA vs CPA US Course is that EAs specialize in taxation, and CPAs can specialize in taxation and more.
E.1 Working with an EA
If you need help with an IRS issue, such as a collection problem or an audit, then an EA might be your best bet. They’re typically adept at dealing with the IRS, and some EAs even worked as IRS agents before opening their own practices.
They’re also a great option if you need tax preparation and planning advice for an individual or business. While EAs can’t provide compiled, reviewed, or audited financial statements like most CPA’s can, they can generally perform bookkeeping work to put the business’s records into tax-basis statements that they then use to prepare a tax return.
E.2 Working with a CPA
CPAs are federally approved to represent you in all matters before the IRS. Those that specialize in tax preparation can also typically help you with tax and financial planning, accounting needs, and most other financial tasks that you might have.
Look to a CPA to identify the credits and deductions you qualify for to increase your tax refund and help lower your tax bill. Additionally, if you have broader accounting needs — for instance, your bank requires a reviewed financial statement to comply with loan covenants — then working with a CPA can be beneficial.
F. Focus, Skill and Rate Comparison:Differences Between CPA US Course & Enrolled Agent
Criteria
CPA
EA
Professional Focus
Broad accounting, tax and financial services for businesses
Taxes for businesses and individuals
Qualifications for Practice
State education requirements (usually 150 hours of undergrad); pass CPA US Course exam
Five years IRS experience; pass the EA exam
Hourly rate
Average of $30 to $500, depending on experience, rank within firm, whether CPA is a firm owner
Average of $12 to $55
G. Which one to Choose? EA vs. CPA US Course
Enrolled agents are not as well-known as CPAs, but they are as good if not better with income tax matters. The path to the CPA US Course is long and arduous but more popular. If you think this is the path for you, carry on. But if you’d like to specialize in tax matters and get on the fast track to working at home with your own clients, then set your course for the EA credential.
When deciding between an EA or a CPA US Course, you will see that both types of professionals are well-qualified. They can both deliver the financial guidance you may need for your taxes. However, which one you should consult depends largely on which issue you’re looking to resolve. As could help you work through an IRS audit or a collection problem, and they can also perform bookkeeping services that could be useful for businesses when preparing tax returns.
CPAs, however, are more adept in meeting your financial planning and accounting needs; and when it comes to tax planning, they can also help you identify tax credits and deductions to lower your tax liability.
Both types of professionals are equally qualified to perform similar tasks, but there are differences in the range of services offered. CPAs can provide a much wider scope of tax services than an EA can. What’s more, general population demand is greater for CPAs than EAs.
If you have accounting needs with a micro focus, working with an EA could be the perfect fit for you. On the other hand, if you are interested in accounting practices that have nothing to do with taxes, such as auditing, then the CPA US Course option may be best.
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.
By and large, a quite good number of working professionals and students holding academic background in accounts and finance sectors, might are aware of the Certified Public Accountant, or CPA US course certification. This is one of the most coveted & globally recognized accounting credential aspired by M.com, MBA(Finance), ICWAs and CAs.
To obtain this qualification, one has to pass the unified online CPA exam conducted by the AICPA, the international body providing the CPA certification. The CPA US holders are in increasing demand as indicated by their higher salaries and scope.
In and out, the CPA US course certification paves the way towards a fast track career growth in the accounting arena. This is linked with high level of trust and skilled expertise as envisaged by the employers.
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 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 eligibility
Now, for an Indian candidate to be eligible for US CPA exam in India, the candidate must possess a graduate degree preferably in commerce along with post graduation or CA/CS/MBA to ensure 120 credit points required to write the exam. However, to obtain the CPA license, the requirement is 150 credit points. In addition, some US states require the candidate to have 1-2 years of work experience under a CPA.
US CPA course exam
Regarding the contents of the CPA US in India, there are 4 sections in exams i.e. FAR, AUD, REG and BEC respectively. Each section contains in the format of MCQs and task based simulations while the time allotted is 4 hours per section. One has to pass all 4 sections within a span of 18 months and to pass the exam, a minimum score of 75 is mandatory for each section of US CPA exam.
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
US CPA job opportunities
When we talk about the job prospect of US CPA holders in India, it is evident that with the advent of globalization and the corresponding surge in the growth of Indian economy, entry of foreign companies, foreign investments and tie ups with the Indian companies, open doors for US CPAs in a much bigger way. Based on this fact, US CPAs, being an international professional qualification of highest order, is gaining popularity and having greater demand in the finance/accounts related jobs.
On the verge of this, there is an ever- increasing demand for US CPAs in India for US GAAP reporting and general controller roles for US subsidiaries in India. Global Indian companies also has demand hiring US CPAs too.
CPAs can act as a specialist in the areas:
a. Financial Analyst
b. Management Accountant
c. Risk and Compliance Analyst
d. Tax Accountant
e. Management Consultant
f. Information Technology Auditor
g. Finance Director
US CPA salary in India
Regarding the salary of US CPA in India, a fresh CPA US holder can get an average INR 6-7 lacs per annum at the entry level in a Big 4 or MNCs which increases at a higher rate than the non CPA counterparts. Next comes the coaching for preparation of US CPA exam in India.
US CPA coaching in India
Since US CPA exam centers started operation in India, a lot of coaching institutes got renewed interests for coaching of US CPA course. These CPA coaching institutes provide online classes and study materials to the students aspiring for US CPA exam.
Uplift Professionals is a premier CPA coaching institute offering dedicated services to its students – some of which are listed below.
1) Provide premium US CPA study material from Gleim international, a CPA study provider for more than 40 years. The concise exam oriented study material along with vast question banks for practice helps students a lot to pass the CPA US exam in one go.
2) Provide live online classes during weekend suitable for working professionals are conducted by a team of dedicated experienced trainers having a lot of corporate exposure administer best US CPA coaching to students.
3) Provide video recordings of each and every live class to the students on next day morning gives ample scope for revisions.
4) Provide small batch sized classes which facilitates effective one to one interaction between the student and teacher- an effective way of US CPA coaching.
5) As part of the US CPA coaching, additional study notes and class schedules are provided to the students.
6) Provide real time problem solving sessions and periodical mock tests in a regular fashion- a very useful mode of coaching for US CPA exam.
7)Provide online faculty support for doubt clearing as an integral part through e mails/ whatsapp and over the phone.
8 )Provide administrative guidance on US CPA exam evaluation procedures.
Request for Live Demo class / contact at +91-8787088850 to book your seats now.
Summary
It is quite evident that to crack the prestigious US CPA exam, the contribution of mentors from a quality CPA coaching center and use of premium exam oriented CPA study materials have no alternative.
It is well known that CPA US course is a much coveted global credential for people having accountancy/finance academic background. It unravels outspread routes of professional opportunities with immense value addition to your basic academic degree. Considering the basic academic degree as commerce graduate( B.Com), let’s see how one can land on the moon hoisting the flag of CPA US course.
Taking the following two scenarios:
Scenario A: You have cleared the B.Com with 1st division from any of the NAAC “A” Universities.
Scenario B: You have a B.Com degree other than that mentioned above.
Now, for Scenario A, you are directly eligible for US CPA certification process, while for Scenario B, you have to undertake some additional courses like M.Com/MBA/CA/CS etc. to make yourself eligible for CPA US in India and around the world.
Why it happens like that?
For this, we have to know the allocation of credit systems for better understanding of both the scenarios.
The credit system refers to the minimum eligibility criteria to sit for the US CPA exam where the basic requirement is 120 credits. The basis of this lies in the fact that every year of Indian graduation is equivalent to 30 semester credit points in USA.
Hence, a 3 year B.Com degree will fetch 90 credits except the Scenario A, where additional 30 credits are given. Based on the above information, our Scenario A B.COMs will get 120 credits while B.COMs belong to Scenario B will get 90 credits. To make up the shortfall, additional courses are required for the latter.
As for example, For Scenario A: B.Com(120) + M.COM/MBA(60)= a total of 180 credits. For Scenario B: B.COM( 90) + M.COM/MBA(60) = a total of 150 credits like that.
Once the eligibility part is over, one has to go through the following steps to complete the US CPA sojourn.
1) Transcripts and Evaluation:
Transcripts are the academic documents in support of respective qualification that has to be obtained from the respective Institutions/ Universities by the candidate. Upon receiving the transcripts, the candidate has to apply to the respective international body for evaluation. Once the evaluation is done, the concerned US state board will send the confirmation tentatively within a month.
2) Preparation for US CPA:
This is the actual study part that demand lot of efforts, time and energy of the candidate, particularly effective time management is required for the working professionals. You can opt for any authorized service providers for CPA US course study materials. You can judiciously select a CPA training institute for study support. Your success depends a lot on this preparatory phase.
3) NTS (Notice to Schedule):
Once you start sailing smoothly in your preparation, you can decide to sit for a particular US CPA exam paper upon gaining the required confidence. To initiate this process, you have to apply to AICPA to write the particular exam. This process is known as NTS( Notice to Schedule) and is valid for 6 months. It means once you furnished your NTS, it is mandatory to sit for the particular exam within the stipulated period of 6 months.
Since the US CPA exam and formalities are little bit tough and complex, it is always advisable, that, to pursue US CPA in effective manner, one should take proper guidance and quality training/ mentoring from any authorized institution for CPA US course.
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
About the top US CPA training institute in India, Africa, and Middle East – Uplift Pro
Uplift Pro is one of the top training institutes for the US CIA, US CMA, CPA US 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.
C. Live online classes ensuring that the regular office working hours is least impacted. Also, provides class recordings to students.
D. 1:1 personal support from our 30 plus years of experienced CPA certified faculties ensuring that all our students pass the US CPA course
E. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass
F. Premium study materials with practice questions bank enabling students to pass the US CPA exam in India and rest of the world
G. Administrative guidance on US CPA evaluation procedure
H. Placement assistance
Request for Live Demo class / contact at +91-8787088850 to book your seats now.
Recommended for further reading :- How to be a CPA US and CPA Canada Together? – Becoming a US CPA is an aspiration for many finance professionals and accountants. One can also attain CPA Canada along with CPA US course. There are 3 major points that dictate the way by which a CPA US can obtain a CPA Canada designation. Continue reading by following the link.
