The US CPA certification is offered by the American Institute of Certified Public Accountants (AICPA). This is a highly qualified designation and in order to acquire this designation, a candidate needs to fulfill all the predefined educational and experience criteria. The most prominent of all the careers for a CPA include Public Accounting and Industry Accounting.
Both are responsible for assisting the organization reach its financial goals through performing a number of roles and responsibilities like Auditing and Review, Financial Planning and Business Valuation, Tax Preparation, Company Management, Litigation Services and Forensic Accounting Services.
Thus, candidates with a knack of Accounting and Finance can choose for a CPA course which includes education, CPA exam and experience. Candidates who wish to enroll must have basic understanding regarding various aspects of the course. One of the important parameters in the CPA program is to know the fee details of the exam and administrative expenses which an aspirant has to incur in the process. Let us discuss the same. The candidates are advised to stay updated and plan their preparation accordingly.
The CPA Exam fees will be additional around 3000 USD, below is the break up for your reference: In Indian currencies the below fees will be around 2,25,000 approx. which can vary as per the currency conversion rate applicable at the time of payment.
Examination Fees
Auditing and Attestation (AUD)
$226.15
Business Environment and Concepts (BEC)
$226.15
Financial Accounting and Reporting (FAR)
$226.15
Regulation (REG)
$226.15
Application Fee
150 USD – 200 USD varies state to state and is paid towards CPA Application fee whenever you apply for exams.
Evaluation Fee
225 USD – 350 USD is paid to NASBA for Evaluation.
Registration fees
70 USD to 150 USD varies state to state and all first-time applicants are required to pay both an application fee and an examination fee upon submission of the first-time application.
International Testing Fee
1500 USD for 4 CPA papers is paid as International Testing Fees only for students writing exams out of the US CPA Exam costs vary depending on your jurisdiction i.e. the state you have chosen to write your CPA exam.
Varies depending on the number of days of advance notice. If you reschedule your CPA Exam at least 30 days in advance, there is no fee associated with the reschedule. If you reschedule the exam between 5 and 30 days, you’ll have to pay the Prometric Testing Centre a rescheduling fee of $35.
If you reschedule within 5 days of your current exam date, you will need to pay Prometric Testing Centre the full amount for the CPA Exam section you are rescheduling. Finally, you will not be able to reschedule your exam if it is under 24 hours before your exam time; you will need to register again with your State Board of Accountancy.
Fees to Prometric for Rescheduling a CPA Exam Section
Notice
Fees
30+ days
$0.00
6-29 days
$35.00
1-5 days
$83.76
Less than 24 hours
Can’t reschedule, fees forfeited
CPA Exam Retake Fee
Varies between $50 and $200
For all re-examination candidates, instead of paying the application fee, they are required to pay both the reapplication and examination fee when they register to re-take any parts of the CPA Exam. This is sometimes also called the “registration fee.” Some states will offer discounts on CPA Exam retake fees if the candidate is retaking 2 or more exams.
Here is an example of how the state of Missouri breaks down their reapplication fees:
Reapplication Fees in Missouri
4 CPA Exam sections
$124.00
3 CPA Exam sections
$108.00
2 CPA Exam sections
$92.00
1 CPA Exam sections
$71.00
Background check
Some states may require a background check, which you will have to pay for. Find out whether your state board requires this in our guide to CPA Requirements. NASBA looked at background checks from past years and found that costs to the candidate ranged from $1 – $49. This is something you’ll want to confirm directly with your state board.
CPA Exam Cancellation Fees and Refunds
Unfortunately, CPA Exam fees are not refundable if your Notice to Schedule (NTS) expires or you do not show up for your scheduled exam. There is no cancellation fee if you cancel the exam at least 30 days in advance. If you cancel the exam between 5 and 30 days, you’ll have to pay the Prometric Testing Centre a cancellation fee of $35. However, there are some exceptions to this policy for candidates with extenuating circumstances. Those circumstances include:
Visa rejections
Military deployment
Medical emergencies
Death
To see if you qualify for a partial refund or NTS extension based on hardship, contact the National Association of State Boards of Accountancy (NASBA).
Note: CPA candidates are only eligible for one NTS extension or a partial refund for an NTS for the same hardship.
CPA Ethics Exam Fee
Varies between $150 and $250
Some states require passing an ethics exam and most state boards accept the AICPA’s comprehensive ethics course and exam. This exam can generally be taken before, during or after the CPA Exam and test results are valid for a 2-year period. CPA Ethics Exam Fee can be anywhere from $150 – $250, depending on the state.
CPA Licensing Fee
Varies between $100 and $500
Once you have passed the CPA Exam and taken the ethics exam (if required!), it is time to apply for certification. Your state likely has an online application process. They may require you to submit documentation such as a signed statement from a supervisor or licensed CPA that can attest to your work or additional educational or exam records. You may have to complete an in-person interview with the board. CPA Licensing fee from $100 – $500, depending on the state.
CPE Costs
Varies between $0 and $300
After CPA licensing, most states require CPAs to complete continuing professional education (CPE) credit hours to maintain licensure. Be sure to check with your State Board of Accountancy to find out how many hours are required each year to maintain your credential.
CPA Exam cost: study and preparation
To make your US CPA journey smooth since it involves substantial investment, it is very much crucial to select your study/training partner and the CPA review material. Uplift Professionals, a premier training institute for CPA partnered with Gleim International, the reputed CPA review provider can be a judicial choice to fulfil your CPA dream.
THE SOLUTION
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Just a few of the reasons CPA candidates love us:
1. A bank of exam-quality questions and simulations that can’t be beat
2. Detailed answer explanations for powerful learning
3. A practice environment that’s just like the real exam
4. Personalized support and study experience.
The Uplift Professional-Gleim CPA Program has everything you need to pass on your first try!
Now is the time to invest in your future! The CPA designation is one of the most widely recognized certifications in the world — and with good reason! Over the lifetime of their career, CPAs are projected to make $1,000,000 more than non-CPAs. So, treat the CPA Exam costs as an investment in yourself. No matter what your goals are for becoming a CPA, remember that with hard work and dedication, it’s possible to obtain this license.
Summary
Now, after going through this article you are quite familiar with the cost involved to become a CPA US. Considering the income of a CPA, this cost will turn into an investment in your budgeting basket. You must keep in mind that the CPA certification is well worth every penny you spend because it pays for itself with dividends for the duration of your career.
Therefore, you should use this heads-up to develop a budget that accounts for all the CPA costs you may encounter. Because you’re an accountant, I hope you’ll surely be able to adequately prepare your funds once you learn all about the cost of the CPA.
Unlike any other accounting exams, the US CPA exam in India requires correct planning, constant motivation and guidance from experts. In this era of competitive world, preparing for such exams is taking a mental or emotional toll on students. Further there are not many articles or discussion groups dedicated to discussing the topic. This is quite evident in the case of working professionals to manage their CPA study preparation with a hectic work schedule.
Almost every US CPA exam candidate can say that they’ve experienced lack of clarity and guidance during the course of their studying at least a few times, if not many. In this perspective, it would appear beneficial to discuss some tips and strategies that will help students to succeed in the US CPA exam in India.
CPA is a professional course and many working people take up this course along with their full-time jobs. Preparing for such an extensive course content along with a job can be a daunting task if not planned properly. One needs to first formulate a strategy on how to prepare for the CPA exam without affecting the personal and professional life. A disciplined approach towards studies is required to pass the CPA exam. Somebody who is working and planning for CPA studies should consider the below mentioned points:
CPA Exam Planning Framework to Pass- At a Glance
A. Don’t give yourself too much time to study, high intensity is better.
B. Find the right CPA review Course for your learning style and avoid busy work.
C. Use trial and error with your CPA review course to determine the best way to gain an understanding of the AICPA blueprints.
D. Make the CPA exam a priority by being ruthless with your time.
E. Mentally prepare for the possibility of failure, because statistically it’s weird if you DON’T fail at least one section.
F. Surround yourself with CPA exam mentors and tutors.
Based on the above points, let’s discuss the strategies for a working professional to pass US CPA exam in 2022.
1. Balancing the Work and Study Plan
Track your progress and make daily notes on how things are going. At the end of each day, write down how much time you spent preparing for the CPA Exam. An easy way to do this is to give yourself a grade on your daily performance.
On a calendar, give yourself an A, B, C, or an F. Yes, you can skip the D since we need to keep things simple. Or, if you like, you can rate yourself with stars. It doesn’t matter what type of grading system you use, as long as you keep it simple. This exercise will serve a couple of purposes. When you approach your daily studies knowing there’s a grade at the end, you are more likely to strive to do better.
Another reason you want to track your performance is that it prevents you from letting bad habits get too far out of hand. Seeing trends in your progress will allow you to make adjustments to how you’re approaching your studies.
If you score badly on a practice exam, you can easily go back to your daily log and see what things contributed to your score. Maybe you did not get enough sleep or perhaps you have some outside stresses interfering with your studies. No matter what the issues are, having a daily log will ensure that you are holding yourself accountable and give you an easy way to see if you need to adjust your plan.
Your practice exam scores will tell you just about everything you need to know about your preparation. Be honest and flexible with the way you rate your performance. If you did poorly on a couple practice exams early on but are showing improvement, there’s less cause for concern than if you were doing well and started to decline. Make sure your daily grade helps support your improvement. The whole point of this exercise is to keep you on the right path, not to waste your time by beating yourself up.
The most common issue students, particularly, the working professionals face today is distractions. This may require you to take an honest look at how you study. If you find yourself responding to text messages or checking Facebook during your study time, you are only hurting yourself. Each day ask yourself, “is the study time I am putting in quality time?”, “am I getting closer to my weekly study goal or am I flat-lining in my learning performance?”, “are my quizzes getting better or worse?”, “am I prepared for a practice exam?”, “are my practice exam scores improving?”
The daily log is one of the best ways to track your progress and when you do well, please be sure to reward yourself. The goal is to increase your knowledge while continuing to improve your scores. A small reward will give you the boost you need to push through the drudgery we all experience in our studies. Plan the work and work your study plan by grading yourself daily. When you achieve your goal, you will be glad you did!
2. Setting Achievable Targets
If you ask most people studying for the CPA exam what their goal is, they immediately say something like “to pass the CPA Exam.” While you, too, may have that same goal, it is more helpful to break it down into manageable pieces. Having an end goal of passing the CPA exam is great, but it’s too large of a task and since it is not defined by smaller, attainable goals, it leaves a lot of room for failure.
There are way too many moving parts to passing the CPA exam and the only real way to succeed is to break that large goal down into daily action and achievements. Knowing how to study for the CPA exam starts with establishing these smaller goals; once you’ve identified these smaller goals, write them down on your calendar.
Daily targets
This can be set like this: Read for 30 minutes (minimum 15-20 pages). Watch 30 minutes of video lectures. Answer 50 FAR quiz questions.
Weekly Targets
For example: Read for 4 hours (minimum 150 pages). Watch 2 hours of video lectures. Answer 150 FAR quiz questions.
Monthly Targets
Examples: Read 1/2 of the FAR textbook. Score 85% or higher on my practice quizzes. Watch 8 hours of video lectures. Answer 400 practice questions. Prepare to take the FAR CPA practice exam in the next 60 days and schedule the FAR exam within the next 90 days.
Now, it has to be kept in mind that these are just examples which have to be set without compromising your office work schedule, but do you see how these definitive goals require you to take daily, weekly, and monthly action?
Having real targets written down on a calendar or organizer helps you take manageable steps toward the much larger goal of passing FAR, REG, BEC, and AUD. Each day needs to be one that’s moving you closer to your final objective; anything else is taking you further away.
Be sure you include some days off for rest in your study plan. Most students need a couple days to decompress from heavy studying and CPA exam prep is no different. Have deadlines for taking each exam so you can have them all completed within 18 months or less.
3. The Positive Intention
The CPA exam is a difficult sport of the mind, and it leaves thousands in its wake every year. Do you work with intention? Do you demand success or at least some kind of progress from yourself each and every time you open your books to study?
While most people studying for the CPA exam are not playing in any sports to just participate, rather, they are most certainly playing to win. The question for you is, how bad do you want it? If you are not currently 100% dedicated, you need to be when it comes to CPA exam prep and self-study.
When you log into your CPA Review course or crack your textbooks for another study session, do so with the intention of winning. Fill your head with valuable information by watching video lectures and then, dig deeper into a subject by reading. Get involved with the community and see if you really are mentally in the game. Take some quizzes to see how much you retained, but whatever you do, study and prepare to win.
If you don’t study with the intention of passing, you are not fully committed. As obvious as all of this is, many students are simply going through the motions. You cannot afford to be one of them. If you find passion waning, take a moment to remember all of the reasons why you want to pass the CPA exam and this should help to reset your inner drive.
4. Visualizing the Success
Here the mantra is “Dream it, believe it, Achieve it”. By regularly seeing yourself achieve a goal or benchmark, you are changing the way you prioritize everything you do. Just wanting something badly is not enough to succeed at it though. Beliefs and dreams can only turn into achievements if the right steps are taken, and in the right order. From dreams come actions and as you take action, you are setting yourself apart from those that just talk.
By taking action, you are now becoming a self-visualized doer! What would normally be a place to spend free time may come to be seen as a distraction. Old interests may become complete detours and dream-killing dead ends. If you want to achieve something like passing the CPA exam, visualize the end result and work daily to make progress.
When you get to the place where you truly realize just how bad you want to pass the CPA exam, break the process down into its simpler parts and take regular action. Are you driven enough and motivated enough to put in the sustained effort to get to the finish line? Sure, we all find excuses to not study and need outside motivation to get back into our coursework. Do you have a group that you can count on?
The Fast Forward Academy CPA community is a great place to not only connect with others, but it’s also a great place to get the occasional nudge you might need. Just be sure to pay it forward and help others when they need it to. You will be surprised at just how much a few words can mean to someone struggling with a difficult topic or section in the reading.
If you feel your motivation beginning to wane, take a moment to help a few folks. The mental break and kind words shared with others will help fill your tank back up and remind you why you started on this journey in the first place. Yes, much of the motivation you have, comes from within and sharing and helping others is just one more way to recharge your internal batteries.
As you study and take a quiz, constantly check to make sure you are understanding the questions you miss. Go back and see why you missed them. If you’re having difficulty grasping a subject, connect with others in a study group or join a community discussion to see what others have written there.
Again, the Fast Forward Academy CPA review course offers access to an active community full of students and instructors that can help you. These connections will have lasting, positive benefits. To recap, visualize the end result, take daily steps to get there and help those that need it along the way. Your dreams can and will become achievements if you take the time to visualize and actualize your goals daily!
5.Tracking the Progress
Productive study time is a direct result of setting goals and working your weekly study plans. Your study plans represent a lot of self-sacrifice and a commitment to become more prepared for the CPA exam than you were the day before. Before you study, make the decision to do so with purpose and the intention of getting better. Know what you want to study and just do it; knowing how to study for the CPA exam starts with knowing what to study. At the end of your study session, ask yourself the following questions:
· Did I learn something new?
· Did I tune out the distractions around me and focus on my studies?
· Did I help someone else understand a difficult subject to help further my own learning?
· Was my day productive?
· Did I accomplish my daily study goal, whether it was to read a set number of pages in your textbook, watch a set number of video lectures, or answer a set number of quiz questions?
If you answered yes to these questions than give yourself an “A” or “4 stars” or something positive to track your daily success. If not, figure out what was holding you back and move on. To truly track your progress, you not only need to be honest with your performance, but you also need to do it daily, just like brushing your teeth.
6.Use the Right Study Tools
Many study tools on the market can help you study for the CPA Exam. The best ones review theoretical concepts and then reinforce those concepts by applying them to practice questions. The AICPA has some basic free CPA Exam study materials. They also have free CPA Exam sample tests and a video that shows you how to use the CPA Exam platform. The right tools will help you study more efficiently and effectively, ultimately making passing the CPA Exam a lot less painful. However, before you purchase any study aids, you should step back and take stock of your study plan.
7. Study Pace and Duration
When it comes to studying for major exams like the CPA Exam, scientists have found that studying in short bursts over long periods of time (such as 10 hours per week for 10 weeks, for example) is much better than studying for long hours over a short period of time (for example, 5 hours a day every day for 3 weeks). For most of us, we can only effectively absorb information for so long. If we sit and study for too long, we start to lose focus, and our brains simply can’t retain as much information.
8. Don’t Second Guess Yourself
If you want to pass the CPA exams in your first try, then you must not second guess yourself. Technically, if you have time left after answering all of the multiple-choice questions in a testlet, you can go back and change your answers. However, I advise against doing that. In many cases, you will second guess yourself and submit an incorrect answer. Instead, take a bold “one and done” attitude. Approach each question to the best of your ability. Give your best answer, and then move on.
9. Don’t get tripped up.
When studying simulations for the CPA Exam, be aware that too many details can throw you off course. If the question asks about accounts receivable, then answer that question and don’t lose focus on unrelated points, Bickel noted. Also, be aware of words like “not,” “except,” and “only”, which can also make you stumble. “Be observant,” she said. ” Read the whole question and look for these keywords.”
10. The Four “C” s to Success
CONFIDENCE
Most people know that with experience and practice comes confidence. Whether it’s competing in sports, taking an exam, or going in for a job interview, you need to know what your goals are. Having a plan will give you the confidence you need to succeed. The good news is that nearly any challenge can be broken down into manageable parts or steps.
If you have a mental punch list which allows you to respond to each mini-challenge along the way, you will have confidence. Achieving CPA exam success is not for faint of heart, it requires a battle plan. You are going to war against an onslaught of questions. You win the war when you get enough points to pass. Walk into the exam room on test day ready to wage your battle with confidence. Doing so will help you pass.
CARE
It’s great to be confident, but this confidence needs to be tempered with great care. Being extremely careful means you are working through the questions at a good pace and reading them quickly but fully to ensure you are not missing the meaning. Questions can and will be missed when you approach them with haste. Just be careful.
CONCENTRATE
Not only do you have to begin the challenge with laser-like concentration, but you must also maintain that concentration for the duration of the entire exam. It can take a little time to settle into the exam, but the practice exams you’ve previously taken should have prepared you for this.
Practice exams are invaluable to the process because they train you to enter a concentrated state of answering questions, so that come exam day, you’re very familiar with feeling and mindset. On CPA exam day, you will be in a room with others, but everyone will be quiet and focused.
Aside from the one or two people asking to use the restroom, or the person that is annoying you when they clear their throat, you really just have your own thoughts to take you in or out of focus. Stay concentrated the entire exam; do not let your concentration wane at all. If you become distracted, reset and change your posture, stretch, or take a deep breath and continue on. Be mindful now of your ability to concentrate during your practice exams. Working on your focus today will go a long way on exam day.
CALM
You have to stay calm regardless of what happens during the exam. Don’t second guess yourself. Get into a mental state of calmness and stay there as you move through the questions and testlets. Significant spikes in blood pressure and heart rate can easily cause you to lose focus.
Breathing exercises can be very helpful for times like these. Being able to get back to your calm, collected state is something you can practice before you take the exam using real-life situations. Feeling anxious or frustrated? Try breathing through it or visualizing things that make you happy. This can help you keep your cool and stay focused on the exam.
Summary
Being a Certified Public Accountant (CPA) is probably not just a professional goal, but a dream. How exciting is it to be working toward your dream? Remember that when it feels hard. If you develop a good study plan, take help from good quality CPA review materials along with a competent trainer and stick to these CPA Exam study tips, you’ll have a better chance of passing the CPA Exam at first attempt.
Uplift Pro-the Trusted Partner for CPA Exam Preparation
Seek support from experts
Getting guidance from a supportive group of people can put your mind at ease and help you get through rough study days. Like all other exams, the US CPA course too has a specified exam pattern and the candidate needs to undergo lots of practice on those questions to score high marks in the exams. Make sure that you get the right mentors for preparing the exams.
It is recommended to start with the section which you are most familiar with and move forward with there. Always dedicate more time for sections which has less pass rates like BEC exams. Moreover, the US CPA exam patterns are different from the patterns we follow in India or the Asian countries. The key decision is choosing the best US CPA course training institute. Getting guidance from an established training institute not only helps in understanding theoretical subjects, but also attending mock exams, job placement assistance and soft skill training.
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.
The availability of accounting professionals with realistic knowledge and expertise are still in derth in India. Professional courses like US CMA , CPA US course, CIMA, CIA, CFA focused on skill building in relation to applicable education and training at par with the need of the growing industry pattern are gaining importance day by day to mend the gap.
After the completion of a specialized global professional course, the employability of a job aspirant increases . This is because of the acceptability of these courses in the companies. The professional courses impart advanced skills, upgrade the inherent skills. Therefore, these courses benefits both freshers and working professionals .
Among such courses CPA US course (Certified Public Accountant) is being considered as the most demanding and coveted certification for finance and accounting professionals. A professional having US CPA credential obtained through clearance of the Uniform CPA exam administered by AICPA (American Institute of Certified Public Accountants) enforces good professional standards in the field of accounting.
About CPA US course
CPAs have expertise in US federal income tax, US GAAP, and many other areas of US financial and accounting laws. The CPA certification is respected all over the world, in the global accounting arena and it’s a US designation certifying the professionals in the US accounting to perform taxation and auditing tasks.
A CPA US course qualification is similar to the Indian CA qualification. Additionaly the CA qualification, a CPA will have knowledge of :
1. US Generally Accepted Accounting Principles (GAAP)
2. IFRS (International Financial Reporting Standards)
3. Generally Accepted Accounting Standards (GAAS)
4. US federal taxation and business laws
This provides them an edge over the CAs in India.
Eligibility for the CPA US course examination
1. To appear for the CPA US course examination, it is a prerequisite to becoming a member of the Institute of Chartered Accountants of India.
2. You should be a member of the Company Secretaries in India, Member of the Institute of Cost and Works Accountants in India.
3. It is a prerequisite to a clear Master of Commerce and MBA
Career opportunity of CPA US course
The US CPA opens wider scope to work for both public and private sectors .
Below are the various career options found in the job market:
1. A CPA as Public Accountant
In public and private organizations, the auditing of financial statements is a highly specialized job. As an important member in a public accounting firm, CPAs circumscribe accounting, auditing, tax, and consulting services for clients of any capacity.
2.Role of a CPA in Business, Public Sector and NGOs
In this wider area, CPAs used to occupy a variety of designations ranging from financial analysts and staff accountants to CFOs. CPAs are responsible for recording, analyzing, and reporting financial information of organizations. The CPAs performs budgeting and internal auditing functions.
3. Role of CPAs in Specialized Sectors
CPAs provide services in certain specialized areas by conducting risk assessments. It plays an immense role by implementation of systems improvements and revisions.
The CPAs helps in management of information technology to handle enormous amounts of data generation.
4. Role of CPAs as Financial Advisor
CPAs perform the role of financial advisors to individuals by making informed financial decisions on their behalf to help them manage their financial assets associated with personal investments, savings etc like purchase of property, education, business planning to retirement planning to name a few.
In India, some of the decent jobs which a CPA US can get are listed below:
A. Director
B. Senior Financial Analyst
C. Corporate Controller
D. Risk and Compliance assessing professional
E. Personal Financial Adviser
F. Internal Auditor
G. Software Accountant
There are many job opportunities in India for qualified professionals. Firstly, there are the BIG4s – Deloitte, EY, etc. where the CPAs have opportunities. Seconaly, apart from the big 4s there are many more international companies like PwC India hiring CPAs even right now. According to Naukri.com there are around 26,426 job openings for a CPA in India as of now and this number keeps increasing, changing every day.
Earning your US CPA course is a lengthy process and one that will cost a lot of money to see through to the end. The benefits of being a CPA helps to get more pay . Most people who decide to pursue the CPA feel confident that the ROI is worth it. Perks of being a CPA include an increase in salary, a diverse selection of job opportunities, job security, and other benefits like the opportunity to travel.
Companies hiring CPA professionals
There is a wide assortment of opportunities for students, who qualify for the CPA US course exam in India an across the globe. For example, many global organizations having Indian offices hire the public certified accountants. As the number of CPAs is visibly less in Indian Market, the majority of the companies are sponsoring the CPAs.
There are many 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. Moreover, the Certified Public Accountants also work for BIG4 companies.
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 firms are in higher demand. 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. They are known to be well versed in US GAAP and IFRS reporting.
The CPAs work in financial service companies. Their role includes international and financial accounting, corporate governance. They are hired for different types of profiles in the financial services firm.
CPA US Salary in India
Completing US CPA course helps professionals to make more money for the same job with out CPA. Typically, the US CPAs gets more than 15-20% than non-CPAs.
Research conforms the pay gap as high as 50% between a CPA and a non-CPA. The variation in salaries reflects differences in the size of a firm, the location, level of education, and professional credentials.
According to the 2020 Robert Half Salary Guide for Accounting and Finance Professionals, hiring managers in every enterprise are scrambling to find professional accounting professionals, largely CPAs.
As per Indeed Data, currently, the US CPA salary in India is INR 9.25 LPA. On the otherhand, in Indian Big 4 companies, it ranges from 12.5 to 20.4 LPA respectively.
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.
US CPA course career
Being an US CPA isn’t just a job, it’s actually a whole series of jobs and stepping stones that would conclude into an amazing career. The US CPA course opens up new opportunities including greater career path choices from which to choose. US CPA course open opportunities to get jobs abroad or new local opportunities and at a large or small accounting practice.
As the number of US CPA in India is visibly less in the Indian Market, the majority of the companies are sponsoring the CPAs. There are a plethora of jobs in Financial Planning and Analysis, Taxation, Auditing areas. Few of the prominent companies that are hiring Certified Public Professionals include Genpact, Philips, Deloitte, Accenture, Cognizant, etc.
Earning your US CPA course is a lengthy process and one that will cost a lot of money to see through to the end. Most people who decide to pursue the CPA feel confident that the ROI is worth it. Perks of being a CPA include an increase in salary, a diverse selection of job opportunities, job security, and other benefits like the opportunity to travel.
Summary
Considering the above facts, it can be stated that demand of US CPAs in India is growing to a good extent. The US CPA job opportunities in India is increasing with time. 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. Therefore, they can gain career success without many hurdles. US CPA course is believed to be a powerful certification which will bring stability in the career.
If you are a CPA aspirant, you may seek support from Uplift Professionals, a quality training institute for US CPA in India.
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, 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.
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.
What is US CPA ? CPA US course is one the most sought accounting qualification across the globe. In India, a CPA US holder is considered as equivalent to the Indian CA. Since US CPA course has worldwide acceptance, its scope is not restricted to one particular country. Hence a US CPA holder has plenty of job opportunities worldwide.
The attractive part of the course is that it can be completed in a year. Another, key change is that the bodies involved in smooth conducting of US CPA exams in India, namely, American Institute of CPAs (AICPA), National Association of State Boards of Accountancy (NASBA) have announced to continue CPA exams test centers in India. In this article, we have also mentioned about the US CPA course details and factors associated with it.
Even people who know nothing about accounting know what a CPA is. It’s a well-respected career, both within and outside of the accounting world, and you’ll feel good presenting your profession to your family, friends and colleagues. While having a high-paying, stable career is great, being happy and enjoying your career is a huge part of your life, and gaining your CPA credential will help you feel fulfilled now and into the future.
We all are aware of Certified Public Accountant i.e. CPA US in India, a globally recognized course generally equivalent to the title of chartered accountant. In the United States, CPA is considered as a license to provide accounting service to the public.
US CPAs are considered trusted advisors and is considered to be the highest level of certification, earned by an accountant. Also, the CPA title separates you from others and allows you to count yourself as a member among one of the most highly respected and prestigious professions.
A. US CPA course eligibility
The students must should have a Bachelor degree in Commerce and Masters with minimum 120 credit points. Further, the students should complete 150 hours of the CPA course semester. The details are as below
1.1 Education:
Candidates must meet the 120 credit hours (a bachelor’s degree + 30 extra credit from Master degree) to write the exam and 150 credit hours for the licensure.
The eligibility criteria of the CPA exam differ from state to state. But in major cases maximum state boards require 120 to 150 credit points. A student should have a minimum college degree of 120 credit points. Additional 20 points by covering courses like business law, management.
1.2 Experience:
Most state boards demand that, in order to apply for a CPA License, candidates must possess at least 150 credit points and at least 2 years of professional experience under a licensed CPA or equivalent (for ex: Indian CA or ACCA). After passing the CPA exam, a candidate generally gets 3 years of time to apply for the license.
2. US CPA duration
Typically its takes nearly 9-12 months to complete the course with exams conducted every month.
Professional Responsibilities, Ethics, and Federal Tax Procedures
10-20
Business Law
10-20
Property Transaction Federal Taxation
12-22
Individual Federal Taxation
15-25
Entity Federal Taxation
28-38
2. Auditing and Attestation (AUD)
Topic
Weightage in %
Professional Responsibilities, Ethics, and General Principles
15-25
Assessing Risk and Developing a Planned Response
25-35
Performing Further Procedures and Obtaining Evidence
30-40
Forming Conclusions and Reporting
10-20
3. Financial Accounting and Reporting (FAR)
Topic
Weightage in %
Standard-Setting, Conceptual Framework, and Financial Reporting
25-35
Financial Statement Accounts
30-40
Transactions
20-30
Local and State Governments
5-15
4. Business Environment and Concepts (BEC)
Topic
Weightage in %
Enterprise Risk Management, Internal Controls and Business Processes
20-30
Economic Concepts and Analysis
15-25
Financial Management
10-20
Information Technology
15-25
Operations Management
15-25
4. US CPA exam in India – Pass rate
Candidates appearing for exam is required to score of 75 or more on each section to pass, and each section must be passed within an 18-month window, which begins as soon as the candidate passes the first exam. CPA exam scoring is treated with a high level of importance, due diligence, and attention to accuracy.
The below table depicts the US CPA exam pass rate in last few years. As evident, the pass rate is nearly 51%. This makes CPA qualification a top most certification. To become successful in the exam, candidates needs to follow a systematic study plan and prioritize key sections.
Thinking of how to pass the exam ʔ. Don’t worry. Through training from Uplift Professionals, candidates can get expert advice on exam strategy to ensure high marks.
Section
2017
2018
2019
2020
AUD
49%
51%
51%
55%
BEC
53%
59%
60%
68%
FAR
44%
46%
46%
53%
REG
47%
53%
56%
64%
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
After clearing all 4 sections, candidates have to clear the ethics exam. After fulfilling the requirement, licence fees has to be paid to obtain the licence from the respective state board.
4.1 CPA certificate vs. license- the 2 tier system:
For CPA certificate:
1) No work experience required. 2) No requirement of continuing education. 3) Not been able to sign tax returns, audit reports or use the title on any official/ legal reports. 4) Some states though allow to use the title as prefix to name on unofficial documents like resume while others totally forbid such use.
For CPA licensure: 1) Majority of states require minimum 1-2 yrs of relevant accounting experience under a CPA. 2) Can sign tax returns and audit reports. 3) Allowed to open a CPA firm. 4) Can use the title throughout.
It has to be noted that currently, most states are not going to issue a certificate upon clearing the exam only until unless the other part is fulfilled.
Thus, a CPA certificate in most cases a kind of acknowledgement that indicate the candidate has passed the exam and met up the minimum requirement for it.
A US CPA license on the otherhand, is issued upon completion of all the requirements from a board of accountancy.
5. Continuous Testing Window
Since July 1, 2020, testing windows has been replaced by continuous testing, allowing candidates to take the Exam year-round, without restriction, other than waiting to receive scores from prior attempts of the same section or when there is a major change to the Exam. This helps 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
6. Steps to write US CPA exam in India
1. Get your eligibility verified by Uplift Pro before sending your transcripts to the US Official Evaluators.
2.Start preparing for the CPA exam. We will teach you 2 papers at a time after your working hours in live online mode and share with you the recordings of the classes as well.
3. We will also provide you an option to receive Gleim CPA Megabank (at 50% of the original cost) since Uplift Pro is an approved partner of Concorde Gleim. Gleim has helped more than 40,000 candidates worldwide pass their CPA exams in the last 20 years. Hence they are the No. 1 in this job. Trust on the Gleim Uplift support to pass the 4 papers of CPA as quickly as possible.
4. Once you are ready for the exam apply for an NTS from the US State from which you wish to be a CPA license holder. Uplift Pro will guide you in this administrative procedure.
5. After getting the NTS, contact your nearest Prometric to book your seat for the exam. Don’t forget to keep your passport ready to meet the identification procedure in the Prometric center.
7.US CPA exam in India -Score date
Decision to conduct US CPA exams in India, helps candidates to better plan for the exams. Typically AICPA publish the score release dates for the first half of a new year in December of the previous year and the second half by June of that year. The below table highlights the score release dates after sitting for a section.
Score Release: Exam sections taken 23, April – 31, December, 2021
If you had taken exam on/before:
Your target score release date is:
April 23
May 11
May 16
May 25
June 8
June 16
June 30
July 13
July 23
August 10
August 15
August 24
September 7
September 15
September 30
October 12
October 23
November 9
November 15
November 23
December 8
December 16
December 15
January 11
8. US CPA course fees structure
The US CPA exam fee is generally around USD 1,200 for all four sections. However, that may slightly vary based on number of sections you appear for the exam and also varies state by state. To better plan your US CPA course fee and best approach visit our page and talk to our experts at Uplift Pro.
9. US CPA job opportunities
US CPA course is in great demand in all sectors. CPAs are meant to maintain and examine financial accounts for the public and private sectors as well as for individual clients. CPAs are authorized to hold responsible positions in financial domains ranging from startup ventures to multinational entities. Few of the prominent companies that are hiring Certified Public Professionals include Genpact, Philips, Deloitte, Accenture, Cognizant, etc.
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
10. Companies hiring US 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.
11. US CPA Salary
Completing US CPA course helps professionals to make more money for the same job than they would if they did not hold the CPA license. It widely noted that US CPAs get more than 15-20% more than non-CPAs working in accounting-related jobs.
Research also confirmed that the pay gap is as high as 50% between a CPA and a non-CPA. The variation in salaries reflects differences in the size of a firm, the location, level of education, and professional credentials.
According to the 2020 Robert Half Salary Guide for Accounting and Finance Professionals, hiring managers in almost each and every enterprise are scrambling to discover professional accounting and finance professionals, in particular CPAs.
In the public accounting sector, for instance, the revenue midpoint (or median countrywide salary) for a senior manager/director for audit/assurance offerings is $134,000, and for a senior manager/director in tax services, it’s $136,750.
The Salary Guide provides beginning profits tiers for greater than a hundred ninety accounting and finance jobs, with the capacity to alter salaries to nearby markets. These tiers signify beginning compensation solely on account that a number of hard-to-measure elements such as seniority and job overall performance can have an effect on ongoing pay.
11.1 US CPA salary – Entry and Experienced professionals
An entry-level US Certified Public Accountant (US CPA) with much less than 1 yr journey can count on to earn an common complete compensation (includes tips, bonus, and additional time pay) of AU$58,244 based totally on 5 salaries.
An early profession US Certified Public Accountant (CPA) with 1-4 years of ride earns an common complete compensation of AU$61,607 based totally on fifty five salaries.
A mid-career US Certified Public Accountant (CPA) with 5-9 years of journey earns an common complete compensation of AU$71,954 based totally on fifty nine salaries.
A skilled US Certified Public Accountant (CPA) with 10-19 years of trip earns an common whole compensation of AU$90,945 based totally on 26 salaries. In their late profession (20 years and higher), personnel earn an common complete compensation of AU$101,500.
In Middle East countries a CPA at an entry-level with less than a year experience can expect to earn an average annual salary of AED 85,000 (including perks and other benefits).
From the smallest start-up to the biggest authorities agency, each and every commercial enterprise or corporation requires the competencies of a CPA. The US CPA credential is quite regarded. To a achievable company it skill excessive moral requirements as properly as measurable experience, education, and skills.
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 of a CPA increases at a higher rate than his non-certified peers. A CFO in India can earn more than INR 1 Cr, annually in India.
12. US CPA course career
Being an US CPA isn’t just a job, it’s actually a whole series of jobs and stepping stones that would conclude into an amazing career. The US CPA course opens up new opportunities including greater career path choices from which to choose. This can also open opportunities to get jobs abroad or new local opportunities and at a large or small accounting practice.
As the number of CPA US in India is visibly less in the 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.
Earning your US CPA course is a lengthy process and one that will cost a lot of money to see through to the end. However, the benefits of being a CPA will more than pay for themselves. Most people who decide to pursue the CPA feel confident that the ROI is worth it. Perks of being a CPA include an increase in salary, a diverse selection of job opportunities, job security, and other benefits like the opportunity to travel.
13. Top preparation tips for US CPA exam in India
Understand the syllabus and keep updated
The key element of any course is understand the subject and syllabus. Student’s preparing for the US CPA exam in India, should understand on how the exam is and what all aspects are critical for the exam. For Exam content, look no further than the US CPA exam blueprints.
Create a detailed study plan
Developing a clear cut study plan is the primary aspect for any exam. Keeping the testing date in mind and the total amount of time, you have in hand, for study, prepare a detailed weekly and monthly plan with aim to complete the subjects well in advance of US CPA exam in India. You require choosing a testing date and then draft a plan. Thus, you will make the preparations according to the time, remaining left.
You need to take a look at the calendar and mark those days where you cannot study owing to unavoidable circumstances. Now, you need to calculate the number of hours, for which you can study every week. Next, you need to calculate the number of weeks, you require for reaching the total count of the study hours. It is essential to choose a testing date, close to the testing window so that there is sufficient time for rescheduling, as required.
Plan for the best time to prepare for CPA exam every day
In line with the above point it is advisable to craft a daily study routine. Keep daily targets and ensure that each day is used to maximize the amount of studying you get done every day and you get sufficient time at the end for quick revision.
Book for US CPA Exam well in advance
Once you are done with study plan, it is also important to find the exam centers and the dates available. It is recommended to book for exams as early as possible and the longer you procrastinate the harder it will become to pass.
Candidates appearing for exam is required to score of 75 or more on each section to pass, and each section must be passed within an 18-month window, which begins as soon as the candidate passes the first exam. US CPA exam scoring is treated with a high level of importance, due diligence, and attention to accuracy.
It is recommended to start with the section which you are most familiar with and move forward with there. Always dedicate more time for sections which has less pass rates like BEC in US CPA exam.
Mental Preparation for the exam
Along with studies, it is important for students to find relaxation time also. It is essential to make periodic break in your study plan for activities not related to studying. This helps students to become more productive and concentrate more for studying. Make sure that time allocated for studying or for replacing is utilized properly. Always focus only one goal at a time. If you are not 100% mentally prepared to pass the US CPA exam then you will procrastinate, lose focus and fail.
Seek support from experts
Getting guidance from a supportive group of people can put your mind at ease and help you get through rough study days. Like all other exams, US CPA course too has a specified exam pattern and the candidate needs to undergo lots of practice those questions to score high marks in the exams. Make sure that you get right mentors for preparing the exams.
It is recommended to start with the section which you are most familiar with and move forward with there. Always dedicate more time for sections which has less pass rates like BEC exams.
Moreover the US CPA exam patterns are different from the patterns we follow in India or the Asian countries. The key decision is choosing the best US CPA course training institute. Getting guidance from an established training institute not only helps in understanding theoretical subjects, but also attending mock exams, job placement assistance and soft skill training.
14. Six Steps To Become US CPA Certified
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, 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.
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.
Time is ticking for students and working individuals of finance and accounting to hone for a more professional approach (US CMA or US CPA ) by breaking the cocoon of their academic acumen. In line with the continuous changes happening in the style of management, culture, technology and work environment, conventional accounting processes are vulnerable to the threat of future viability. There are three major confrontations which one has to overcome, namely, the attraction towards the field, relevance in the job market and finally the challenge of changing scenario. Let’s discuss the pitfalls and how to tackle the challenges.
A. The Attraction
This incorporates the fact that selection of accountancy as major subject is still less than the desired number of accountants to take it up professionally. The diminishing career choice of accountancy over other career paths can be a threat to the supply line of competent accountants in future.
B. The Relevance
This is associated with with the myth that accountants are in less demand because of the integration of automation and technological infiltrations. Relevance is obviously there if the accountants have required upgraded professional skill and competence.
C. The Threat of Change
This is the most crucial challenge that deals with the notion that conventional accountants will become obsolete due to changing economic changes, hence, need to be continuously updated. It means that having a highest academic degree in accounting may not be “future proof” as long as job availability and security is concerned. These three confrontations result in a transference in academic path and career options towards the domain of professional accounting.
How to tackle these challenges: The following steps can be explored
1. Creation of Accounting Space
The most important step is the transformation from accountant by academic degree to the accountant by professional skills and training Such transformation is vital to open the door of a larger field of employment not only in the strategic management accounting and financial expertise in the arena of public practice too. This creates the space for professional accountants to remain relevant for employment in future.
2. Capsizing the Model
It is evident that emphasizing more on theoretical accounting knowledge in our academic curriculum has created shortage of business skills and talents. This is more important than the technical skills alone to develop shortage of professional accountants. Incorporation of professional accounting courses in our academic curriculum can be effective to meet up this gap.
3. Breaking the Border
This can be achieved by encouraging the students to cross the border of narrower academic degree towards the broader spectrum of professional certification in addition.
4. Utility of Professional Courses
To combat the challenges in the backdrop, it is essential for the academic accountants to not to rely on decade old repetitive tasks only. Having a basic academic qualification in accounting may not suffice to compete in the ongoing challenging work scenarios. Hence, until unless application based skills and knowledges are integrated in the academic programs this conflict remains. Thus, it is wise and advisable to grab a professional certification which are of increasing demand in various organizations i.e. from service to manufacturing industries, from private to public sectors as well as in MNCs in India and abroad. So, the gist of the above discussion suggest one to be an internationally recognized professional accountant.
5. Actions required to be “Future-Proof”
Based on above fact, the present and would be accountants need to upgrade themselves. Instead of automated repetitive task based jobs, the need of the hour is to pursue some international professional courses in accounting and finance. Two of such courses are listed below.
a) US CMA Course
The Certified Management Accountant(CMA) is a professional certification in the management accounting and financial management field conducted by IMA. This certification signifies that US CMA holders possesses knowledge at the areas of financial planning, analysis, control, decision support and professional ethics.
b) US CPA course
The Certified Public Accountant(CPA) course is one of the top most accounting qualification in the world conducted by AICPA,USA. The US CPA mire or less equivalent to Indian CAs but having global credibility. So, if you wish to fast track your international career in accounting field, with inclination towards internal auditing, the CPA US course for you.
Summary
To sum up, as 2022 is knocking the door, the industry is getting more dependent on Artificial Intelligence(AI) based repetitive accounting jobs, threat of job -cuts for conventional accountants will be on the rise. To get rid of this, you have to break the shackle and cope with the challenging situations of globalisation. Hope, you understand the worth of being a Professional Accountant of International level to win over the situation.
Choose the best US CPA and US CMA institute in India, Africa, and Middle East – Uplift Pro
Uplift Pro is one of the top training institutes for the US CMA, US CPA US CIA courses in India, Africa, and Middle East. Uplift Pro is also an Indian partner of GLEIM, US and an IMA US authorized CMA US study center. 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 the exclusive features include –
A. Authorized partner of IMA and Gleim in India
B. High pass rate of 85 %
C. Live online classes ensuring that the regular office working hours is least impacted
D. 1:1 personal support from our 30 plus years of experienced CMA and CPA certified faculties
E. Affordable course fees
F. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass
G. 100 % placement assistance for jobs
Request for Live Demo class / contact at +91-8787088850 to book your seats now.
