CPA

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

·       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.

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. 

Some of our exclusive features include –

A. Affordable US CPA course fees

B. CPA certified veteran TEAM of faculties

C. Live online classes and class recordings ensuring that the regular office working hours is least impacted.

D. 1:1 personal support from our 30 plus years of experienced CPA certified faculties ensuring that all our students pass the  CPA US course

E. “Till you pass” guarantee assuring that students can 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.

The world has gone into a lockdown owing to the unprecedented rise of the epidemic. Due to this reason, people are bound to confine themselves to their homes. While it is a hard time to stay back at home, we cannot ignore our studies and daily activities.

If you have been preparing for a professional accounting exam like the CPA examination or the CMA US examination at this time, you need to introduce some changes in your lifestyle and thought process so that you can focus properly.

Before the epidemic, students would have gone to the training center or study at the library if they wanted a change in the environment. But, with the lockdown and quarantine days, the entire scenario has changed.

We have to readjust the new normal and under such a circumstance, studying at or being mentored by an expert in live online mode seems to be the only alternative to make the best preparations for the examination.

Here is a list of the steps you need to follow if you want to make the best preparations for the CPA, CMA or CIA study during the lockdown. Take a look!

Say no to distractions

If you want to create a perfect working environment without any distraction, you should make sure to keep the headphones as well as the music of your choice ready. Instrumental music plays an integral role in blocking unwanted noise and thus it is possible to concentrate more on your studies.

Few people love to experiment with various genres of music to develop the study environment for you. Social media might also waste a lot of time. You might begin by checking the notifications and after an hour, you might be watching YouTube videos.

You need to find certain ways of limiting access to social media. It is a must to resist the temptation and say no to social media while studying.

Create a cleaner and better study space

It is necessary to create a cleaner study space to boost your productivity. In this aspect, you can consider placing a study table in the bedroom so that you can mark the workspace out. Besides this, you should try to set boundaries.

Avoid unnecessary calls, extra messaging, so that you can
give more focus on studying. If your dining table is the study space, you should make sure that you are the only one using it for studying. Besides this, you should make sure to de-clutter the space so that you can give more space to your studies.

Management of time

It is a prerequisite to understand that various tasks need unique concentration levels. It is easy to watch a video, as compared to taking notes or going through a complicated text over and again. Moreover, many people consider watching videos regularly for revising the concepts that
have been completed earlier.

Apart from this, you should make sure to go over the parts of the CPA or CMA or CIA examination section which are harder and which were more challenging to understand. In this aspect, you should ensure to divide the work into different time slots. Do not forget to take breaks regularly and make the best use of your time.

Other than this, you might give a call to your colleagues and friends who are making preparations for the CPA or CMA examination. However, you should make sure not to spend too much time on calls as it might waste a lot of time. You should ensure to set a specific time for studying daily.

Let others at home that you are busy

It is crucial to let the other family members know that the particular time of the study is blocked for studying. Thus, you will procure the prerequisite time for studying, and thus you can be assured that you will not get any disturbance while studying.

Setting realistic goals

You should not waste valuable study time only for taking a break or talking to someone over the call. You cannot go to a restaurant for a meal or a walk into the park owing to which you might feel like talking over the calls more.

Thus, there are higher chances of distractions such as TV or phone and they might be more appealing to you.

It might appear to you that there is sufficient time at hand but the truth is that you are running out of time. It is not recommended to put the recorded lectured in the watch later section.

Thus, it is a prerequisite to devise a proper study plan, and setting realistic goals happen to be an indispensable part of that. As you set realistic goals, it will be useful to ensure that you are making the best use of time and boosting your productivity.

Use of flashcards

Flashcards are recognized to be vital study tools that lend a helping hand to learn new materials. They are also known to be an excellent choice to go over the mnemonics, terms, and summaries, which are challenging to remember.

You can ask the other members of your family to create the flashcards. Flashcards are playing an integral role in promoting learning via active recall.

It is considered to be a participatory style of learning in which the candidate, preparing for CPA, CMA or CIA examination can be effectively engaged and involved with the material. It is a great alternative for the students and allows them to make effective preparations for the examination.

Smart Reading

It is a must to ready smartly for making the best preparations for the examination. In light of this, you need to highlight the crucial ideas and primarily the ones which are completely new. In addition to assisting in memorizing faster, it is also helpful in making the revisions easy.

Uplift PRO is one of the premium training centres offering premium study materials and “Till you pass training” for the CPA, CMA, CIA examination. You may knock them at www.upliftprofessionals.in for a no-nonsense premium study experience for the prestigious professional accounting certifications.

US CPA course or Certified Public Accountant is recognized to be one of the most demanding professions in the finance and accounting sector which is administered by AICPA or American Institute of Certified Public Accounts.

If you are willing to build a successful career and earn an attractive package in the field of accounting, the US CPA course might be a smart choice for you. A prominent reason why people choose to become CPA is that they can find better and more opportunities within a short period. Thus, they can gain success in their career without encountering too many hurdles. US CPA course is believed to be a powerful certification which will bring stability in the career. To appear for the examination, it is necessary to accomplish the eligibility.

Eligibility for the CPA examination

To appear for the US CPA course examination, it is a prerequisite to becoming a member of the Institute of Chartered Accountants of India. You should also become a member of the Company Secretaries in India, Member of the Institute of Cost and Works Accountants in India. In addition to this, it is a prerequisite to a clear Master of Commerce and MBA.

Scope for CPA in India

Once you become a CPA, you will be capable of working from any part of the globe. The CPAs are known to be hired by different subsidiaries of multinational companies in India. Indian companies that have raised funds from the capital markets of the United States also hire Certified Public Accounts. In addition to this, CPAs can also seek opportunities in F&A companies. They can also work as auditors of multinational companies.

Companies hiring CPA professionals

There is a wide assortment of opportunities for students, who qualify for the US CPA course examination. At present, United State organizations having Indian offices are also hiring the public certified accountants. As the number of CPAs is visibly less in Indian Market, the majority of the companies are sponsoring the CPAs. Also, there are a plethora of jobs in Financial Planning and Analysis, Taxation, Auditing, and different profiles in India. Few of the prominent companies that are hiring Certified Public Professionals include Genpact, Philips, Deloitte, Accenture, Cognizant, etc. If you have sufficient knowledge, you will become successful as a CPA professional.

The Certified Public Accountants are also found to work for BIG4. BIG4 happens to be one of the leading professional accounting organizations which provide taxation, assurance, auditing, accounting, risk assessment, and control, consulting, legal services, to a plethora of clients across the globe. Few popular clients of BIG4 include PWC, KPMG, Deloitte, Ernst, and Young. The services, provided by these firms are in higher demand and thus they have gained high popularity in hiring the CPAs in India. A worth mentioning reason why these companies are hiring CPAs is that the Certified Public Accounts can provide a plethora of such services without any hassles. In addition to this, they are known to be well versed in US GAAP and IFRS reporting.

The CPAs are also known to work for financial service organizations. They are capable of handling international and financial accounting, as well as corporate governance, easily. They are hired for different types of profiles in the financial services firm.

If you are a CPA aspirant, you may seek support from Uplift PRO for premium materials and live online coaching to make the best preparations for the examination which will be useful to you in clearing the examination on the very first attempt. CPA can bring a well-respected career to you. You can get a stable career along with a high paying salary after becoming a CPA. In addition to this, it will open new doors of opportunities for you.

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 CPA course, US CMA, US CIA 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

Some of our exclusive features include –

A. Affordable US CPA course fees

B. CPA certified veteran TEAM of faculties

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.