Many of us know that CPA US has rewarding benefits like higher lifetime earnings and faster career advancement. The fact is this is not everyone’s cup of tea. The opposite side of those benefits is the tough cost to earn the CPA certificate. It is often difficult and time consuming to become a CPA. One must make a realistic compromise with other important areas of daily life by making a lot of sacrifices during the CPA exam process.
Hence, CPA exam preparation is meant for serious aspirants who are serious and hard working too.CPA is a professional course and many working people take up this course along with their full-time jobs. Managing both job and this extensive professional course can be daunting if the schedule is not planned accordingly. 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.
Listing the 10 crucial areas of studying CPA that can be challenging.
Inadequate preparation.
There are four sections on the exam – Auditing and Attestation, Financial Accounting and Reporting, Regulation and Business Environment and Concepts– and each of these requires a good deal of preparation, usually up to about 450 total. Going into the exam without adequate preparation, especially if there have been new topics announced for the exam, is a critical mistake in exam preparation and can lead to disappointment. So, don’t go for the exam driven by any false confidence.
Too much dependent on the theory
The CPA exams demand more solution-making ability than the theoretical knowledge. Not knowing the solution, only the theory. Giving too much focus on the theoretical part than solutions make a gap in the preparation and are a great mistake to tackle the US CPA exam.
Writing Skill
The CPA Exam is about accounting and requires writing skills to prove your ability to effectively communicate. So, good grammatical skill and sentence-making ability is a part of the CPA US exam. This must be kept in mind during the preparation for the exam.
Computational errors
Knowing how to do a situational problem and getting the right answer are two different things on the CPA exam. Even with the best theoretical knowledge, the wrong numbers entered in the calculation will yield the wrong answer. Accuracy is a key component of the exam. Be sure to work carefully to avoid mistakes that can cause lost points.
Comprehension and Interpretation
The supporting text of a question, whether multiple choice or situational, needs to be read carefully to make sure that you understand what the test writer is looking for. Failure to understand what the test writer is looking for can lead to incorrect answers and a failure of the exam even though your calculation(s) make be correct
The inability to understand the perspective of the test writers can lead to incorrect answers and disqualifying exam even if the calculations may be correct
Failure to handle the computational tools
One of the biggest mistakes of CPA test takers is a lack of familiarity with those tools, causing a loss of time, reduction in momentum, and computational errors.
Insufficient Practice of MCQs
This is one of the shortfall areas in the CPA US exam preparation. Focusing much more on the adequate practice of MCQs and frequent mock tests evaluation is highly required to pass the CPA US exam.
Inadequate Practice of Simulations
Giving less priority to simulations than MCQs is another big mistake. Since CPA Exam simulations take much longer to solve than MCQs, one must keep this in mind during the CPA exam preparation. It is advisable to spend time trying to solve the simulations more during practicing problems. Furthermore, it is better to try to solve the simulations before viewing the answers.
Allocating more time to Books/videos than Practice
CPA review videos/books teach the important concepts and everything, but multiple-choice questions (MCQs) and task-based simulations (TBSs) take those concepts and put them into the language of the CPA exam–which is ultimately what matters to crack the CPA US exam.
Selecting the Sub-optimum CPA Review Course
This is another area of mistake in opting for a review course which not fit with the candidate’s intent, learning ability, and mindset. A suitable review course with seasoned CPA mentors can prevent many errors to occur and better preparation for the CPA US exam. For example, The Uplift Pro-Gleim CPA package suits most of the candidates who want to pass the US CPA exam on the first attempt.
Summary
Unlike any other accounting exam, the US CPA exam requires correct planning, constant motivation, and guidance from experts. In this era of a competitive world, preparing for such exams is taking a mental or emotional toll on students. Moreover, the lack of dedicated articles related to the subject and discussion groups making things critical.
This is quite evident in the case of working professionals who manage their CPA study preparation with a hectic work schedule. Almost every US CPA exam candidate can say that they’ve experienced a lack of clarity and guidance during their studying at least a few times if not many. In this perspective, avoiding the above-mentioned mistakes seems to help the students to effectively prepare for the CPA US exam.
Certified Public Accounting (US CPA) exam is the topmost international professional credential in accounting conferred by The American Institute of Certified Public Accountants (AICPA). Before taking this exam, it is very much pertinent to know your expectation on the basis of a clear-cut idea on the structural component of the US CPA exam. Since the tasks provided in each section of the US CPA exam are grouped into both skill levels and question types, comprehensive coverage of the skill levels in US CPA exam is of immense importance for a US CPA exam taker. Let’s discuss:
Structural Pattern of US CPA Exam
The US CPA Exam has following four sections which tests different knowledge domain of a CPA candidate
1. Auditing and Attestation (AUD)
2. Business Environment and Concepts (BEC)
3. Financial Accounting and Reporting (FAR), and
4. Regulation (REG)
Components Pertinent to Each Section
1. Task-Based Simulations (TBS)
TBS intends to estimate the potential to apply accounting, auditing, taxes, or regulatory knowledge in a real time business scenario. These tasks demand your ability to execute research, analysis, and recommendation for performing required action in addressing an open-ended situation in a realistic manner.
2. Multiple Choice Questions (MCQ)
MCQs quantitate the ability to apprehend the concepts of accounting, auditing, taxes, or regulatory affairs. These questions are set to receive your response on the selection of the best fit answer from the given set of options.
3. Written Communications (WC)
WC are the tasks provided to analyze your potential of communicative writing skill in relation to business concepts, financial accounting and reporting, or regulation. WC needs to write an essay in reply to an open-ended question.
Need to know the US CPA Exam Blueprint
The US CPA exam blueprint is released and updated by AICPA every year: It contains documents that outline the content of each section of the exam with detailed presentation of the testing format of questions and weightage given to tasks and topic for each CPA exam sections.
Skill Levels in US CPA Exam
As mentioned in the blueprint, each and every task provided is linked to a particular grade of skill set which have similar patterns used to measure cognitive skills. For the US CPA exam, there are four levels of skill which are as follows.
1. Remembering and Understanding (R&U)
Tasks at the R&U level need the candidate to remember or understand specific informative facts. Contingent to the particular section, the R&U chore consists of 10-40% of the US CPA exam. Examples of R&U tasks involve:
1. Definition of terminologies
2. Narrating a concept
3. Expressing a principle
4. Identifying link between two concepts.
2. Application
Understanding of concepts and problem-solving abilities in new situations are required to perform tasks at this level. Application comprises between 30-60% of the US CPA exam. Examples of application include:
1. Application of a concept to a new scenario
2. Calculation of amounts based on given information
3. To find out the right procedure to use in a given situation
3. Analysis
Tasks at this level need to identify conceptual patterns and relationships which comprises between 15-35% of the US CPA exam. Examples include:
1. Elucidating data to detect trends
2. Comparison of multiple sets of information
3. Arranging information to observe relationships
4. Evaluation
Evaluation level tasks require judging ideas or materials and comprise between 0-15% of the AUD exam. Examples of the tasks include:
1. Assessment of the strengths and weaknesses of a justification
2. Weighing up two or more alternatives
3. Opting the best remedial action
Summary
Knowledge and understanding of different skill levels in the US CPA exam will help one to apply a strength -weakness analysis to sort out the areas which need more attention in study. Concept clearing or memorizing certain areas can be done by the marking of strong or weak areas through identified skill level to provide more appropriate inputs into the designated section/areas of the US CPA exam.
Once you are familiar with the skill levels, you have to focus on 3 major areas, namely, understanding the material, practicing questions, and taking practice exams. It is to be noted that mere memorizing without clearing the concepts will not help in the exam. In addition, practicing questions and writing mock tests in a regular and dedicated manner will provide the door for you to crack the CPA US exam. So, wish you all a happy US CPA journey at its best.
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 Certified Public Accountant or CPA is a credential acquired by professionally skilled accountants across the globe. To attain this credential or license, candidates must qualify the unified CPA Exam and fulfil their state board’s educational and experience requirements.
As the US CPA Exam is held at different locations across the globe all year round, choosing a suitable schedule, date, and Prometric testing centre is of paramount importance.
Are you ready to schedule your US CPA Exam, but need to find out how to get started? Find out everything you need to know to schedule your Exam below!
1. The concerned organizations associated with Exam
1.1 NASBA
The full form is National Association of State Boards of Accountancy. You can find information and guidelines on their website. NASBA issues the candidate bulletin, which helps you with test readiness and also issues your CPA score release.
1.2 AICPA
It stands for American Institute of Certified Public Accountants. The AICPA provides exam info and study materials. You can find a lot of answers to common questions on their website. They also publish pass rates.
1.3 Prometric
This organization facilitates the CPA examination. You will register for and reserve a seat at a Prometric test centre to take the exam.
There are four parts to the exam, and each one is taken separately. You must pass all four sections within 18 months. Some sections, like FAR (Financial Accounting and Reporting), are harder than others, so give yourself enough time between your exam dates to study.
2022 is a unique year for the US CPA Exam. The COVID-19 pandemic has changed the CPA test dates significantly. As of July 1, 2020, the regular testing schedule for the CPA changed. The AICPA made the test available year-round, replacing the four testing windows.
Candidates are able to register for testing throughout the year. A candidate schedules the Exam through Prometric while pays the fees to and receives the Notice to Schedule (NTS) from either the State Board of Accountancy/Agent or NASBA, depending on the provisions of the jurisdiction.
2. US CPA exam in India
Previously, to appear in US CPA exam in India, an Indian candidate had to travel abroad due to non availability of CPA test centers in India. However, this scenario has been changed after CPA testing centers started operating in India, a boon for the Indian CPA US course aspirants as it saves a lot of money incurred on travel and lodging to take the exam outside India.
Indian candidates to write the US CPA exam in India throughout the year from the following 8 Prometric centers :
1. Ahmedabad
2. Bangalore
3. Calcutta
4. Chennai
5. Hyderabad
6. Mumbai
7. New Delhi
8. Trivandrum
US CPA Exam 2022 – New Updates In 2020, the US CPA exam in India had few changes; the most prominent change was the introduction of the CARES Act to the REG section effective in Q4 2020. In 2021, the Exam will undergo additional changes, mainly to the AUD & BEC sections, with minor revisions to the remaining two sections – FAR & REG….continue reading
3. How to determine if you’re eligible to sit for the US CPA exam?
Before you start the process of scheduling US CPA Exam, you’ll want to determine if you’re eligible to sit. All CPA US course candidates who want to schedule their test, must ensure they have met all of their state’s educational requirements to sit for the exam prior to registration.
Note: Some states only require 120 semester hours to sit for the CPA Exam versus other states that require 150 semester hours.
4.How to apply to sit for exam?
Once the educational requirements are met to sit for the US CPA Exam, it’s time to apply to sit for the CPA Exam by visiting the National Association of State Boards of Accountancy (NASBA) to complete all CPA Exam-related tasks.
Note: If you are sitting for the examination in a provisionary state, you may be able to sit for the test a few months before completing all education requirements.
5. When you’ll receive your approval to sit for exam
5.1 Once you’ve met the educational requirements to sit for the US CPA Exam, chosen the jurisdiction from NASBA Website, where you’ll sit for the CPA Exam and receive approval to take the US CPA Exam. This approval is called the Authorization to Test (ATT). The ATT allows you to choose the CPA Exam section(s) you want to take.
5.2 Once you pay the required fees to NASBA for the sections you’re taking, you’ll receive a Notice to Schedule (NTS) via email.
5.3 Once you receive your NTS, you’ll need to sign into your account on the NASBA Website and print your NTS. The NTS indicates which sections of the exam you’re approved to take.
6. When you should schedule your US CPA exam?
There are a couple of ways to decide when to schedule your test. Since the examination is offered throughout the year, it’s easy to find a time that fits your study schedule. However, it’s important to not wait until the last minute to schedule your test.
The Prometric testing centres typically fill up on certain, popular, dates. So, try to schedule your assessment at least a month before you want to sit for the CPA Exam so you’re ensured you have a seat. Deciding when to schedule your US CPA Exam should be determined on a couple of factors.
If you’re motivated by a “testing date,” then scheduling your US CPA Exam early and working towards that date might keep you motivated to stay on track. If you tend to procrastinate, then it might be better to schedule your test further out so you have time to really study prior to sitting for the assessment. Another option is to study for the exam first, then schedule the exam.
7. Steps to schedule your US CPA exam:
1. Submit your CPA exam application and fees
Your application will be approved by your respective state board of accountancy or NASBA (as some states contract NASBA to process applications), using NASBA’s CPA Central.
2. Receive your Authorization to Test (ATT) in the mail
Once your ATT is received, you have 90 days to pick which CPA exam section(s) to sit for and when. Once you decide, you will then register and pay your exam fees on the NASBA website.
Note: Some states will send your ATT directly to NASBA, so be aware of this as your 90 days to choose your section(s) will have begun.
3. Verify the information on your Notice to Schedule (NTS)
Between three and six weeks later, you’ll receive your Notice to Schedule (NTS), which allows you to sit for a section of the CPA exam in the United States or at an international testing centre.
4. Schedule your CPA exam section
Now, you can schedule a testing date and time with a Prometric testing center. But know that your NTS is valid for six months only (in most states, see below for exceptions to this rule), so don’t wait to make your plans or risk paying more exam fees.
Exam date (on or before)
Targeted score release
23-Jul
10-Aug
15-Aug
24-Aug
7-Sep
15-Sep
30-Sep
12-Oct
23-Oct
9-Nov
15-Nov
23-Nov
8-Dec
16-Dec
31-Dec
11-Jan
5. Exceptions to the six-month NTS window include:
a. Texas (90 days)
b. California, Hawaii, Louisiana, and Utah (9 months)
c. Virginia (12 months)
6. The estimated CPA exam score release dates from the AICPA for 2022:
Because the BEC section may require manual scoring on written tasks, CPA exam takers in the earlier part of the year may have experienced delays.
8. How to Schedule Your CPA Exam at a Prometric Testing Centre
The CPA Exam is administered by Prometric Testing Centres, open year-round, 6 days a week, with locations across the U.S. You’ll visit Prometric.com to schedule your US CPA Exam
Prior to visiting the Prometric Website, be sure to have available:
1. Your NTS for eligibility verification
2. A primary photo identification
3. Personal calendar for choosing the date, time, and location to sit for the CPA Exam.
Things you can accomplish on the Prometric Website:
1.Schedule your CPA Exam
2. Locate a Prometric test centre
3. Reschedule your CPA Exam
4. Cancel your CPA Exam
5. Confirm your CPA Exam test date
Once you’ve determined which section to take first, it is recommended that you sit for that part of the exam immediately after studying for that same section. For example, study for FAR and then take FAR, and so on.
8. Steps to schedule your CPA Exam as an International candidate
Note: A Passport is required to test for the CPA Exam at an international location
1. Apply to sit for the CPA Exam through a State Board of Accountancy that participates in international testing. Visit the NASBA Website for more information.
2. When you receive your Notice to Schedule, you are then able to schedule your CPA Exam. The NASBA Website provides information on which jurisdictions allow for international testing. If you don’t see your jurisdiction on the NASBA Website, then that means you cannot take the CPA Exam internationally through that jurisdiction.
3. If your jurisdiction allows international testing, then you’ll pay the international fees and complete your international registration. You will be asked to provide identifying information, as well as information from your NTS.
Note: After you’ve completed the registration process for each CPA Exam section, you’ll need to wait 24 hours before you are able to schedule your Exam. Once you’re ready to schedule your CPA Exam, choose the location where you want to take the CPA Exam.
4. Choose, “Schedule an Exam.”
5. Be sure to review and agree to the policy information before proceeding.
6. You’ll enter your CPA Exam section ID number from your NTS and then enter the first four letters of your last name and choose the bottom right arrow to move ahead.
Note: It’s important to properly confirm your CPA Exam section before moving onto the next section. Also make sure you put in the correct CPA Exam section ID for each section before moving ahead in scheduling.
7. Choose your location, date and time and then choose “Complete Registration.”
9. Accept data privacy notice
While scheduling the examination, candidates would come across the Data Privacy Notice. They must accept the terms and conditions of the same. At Prometric, the data entered by candidates while registering and scheduling the examination are stored in the central U.S. database. This privacy policy guarantees the protection to all the data stored, confirming no sharing of information with third parties.
10. Important CPA Exam Score Release Information
The AICPA wants you to know the following about your CPA Exam score release date:
All dates and times are based on the Eastern Standard Time (EST) zone. Furthermore, both domestic and international candidates receive their scores according to the same score release timeline. However, international candidates may experience a one-day delay due to extra processing and validation.
For most candidates, Prometric sends exam data files to the AICPA within 24 hours after you complete your exam section. The scores from any exam data files the AICPA receives from Prometric after the AICPA cut-off dates will be released in subsequent scheduled target score release dates.
11. How to check CPA Exam scores
Of course, on the CPA Exam score release day, the most important question is, “How can I check my CPA score?” Well, your US CPA Exam results may come from 1 of 2 sources.
First, your state board of accountancy may utilize NASBA’s online score retrieval service. If so, you can visit NASBA’s website on the CPA Exam score release day to get your score (aka the NASBA Candidate Portal). Not all state boards use this service, so you must check with your state board to determine if they do. You should also consult your state board for answers to any of your other score release questions.
Second, your state board may handle the score release process themselves. In that case, you will receive your exam score from them. Your state board may post the scores on their website and then email you when you have the opportunity to find your score there. Or, your state board may mail your scores to you in a physical letter.
Some larger state boards, such as the California Board of Accountancy (CBA) or the Maryland Board of Accountancy, post scores in the accounts their candidates have for their online exam systems. Additionally, the IL Board of Accountancy also does not utilize the NASBA Candidate Portal for score releases.
Again, check with your state board of accountancy soon so you know exactly where to find your CPA test results on the CPA test score release day. When you sit for BEC, you might receive your score approximately 1 week following the target release date. This delay is the result of the additional analysis written communication tasks sometimes require. If you pass the test, you’ll receive a score notice that states your score, your credit status, and the date on which your credit earned for any passed section will expire.
In contrast, if you failed the test, you’ll receive a performance report. In this report, you’ll see your performance on each content area, as well as by Item Type. You’ll find your score notice and performance report in the NASBA Candidate Portal within 72 hours of receiving your score.
If you earned less than a 75 on the exam and a CPA Performance Report is generated, you’ll be compared to candidates who have just passed the exam.
The AICPA defines just passed as a candidate who earns a score between 75 and 80. What’s more, you’ll receive separate high-level information about your performance on MCQs, written communications (BEC only), and TBSs.
12. US CPA Passing Score
A passing score for any and all test sections is 75. This number is a scaled score. Therefore, it does not represent the percentage of questions you got right. Your test score can range from 0 to 99. Also, the AICPA does not curve exam scores.
The AICPA Board of Examiners (BOE) establishes the assessment passing score. To do so, they consider many factors such as standard-setting study results, historical trends, and exam content changes. They also receive input from NASBA, consultant psychometricians, the academic community, and licensed CPAs.
Then, the AICPA measures your test performance against these pre-established standards. Additionally, they hold every candidate to these same standards.
For AUD, FAR, and REG, your score is the weighted combination of scaled scores from the multiple-choice questions (MCQs) and task-based simulations (TBSs). For BEC, your total score also includes the scaled score of the written communications (WCs).
13. CPA Exam question scoring weight
Question Type
AUD
BEC
FAR
REG
Multiple-choice questions (MCQs)
50%
50%
50%
50%
Task-based simulations (TBSs)
50%
35%
50%
50%
Written communications (WCs)
n/a
15%
n/a
n/a
Additional CPA exam notes
The timing for your test is an important element in your timeline for becoming a CPA. If you don’t schedule correctly, your study could either be rushed or prolonged. It’s important that you get all of the details in order, as there are several steps you’ll take, each of which could require some waiting.
14. Here are some things to keep in mind that could impact your schedule
· Be sure you’ve received your NTS before scheduling
· Remember, you interact with a few different organizations and websites during this process. After your application is submitted to the State Board of Accountancy, they will review documents to confirm your eligibility.
· Once they accept your application, they notify NASBA. That is when you receive your official Notice to Schedule (NTS).
· Until you have your NTS, you should not schedule the assessment. If a delay occurs, you could be bumped off of the schedule or have your plans change unexpectedly.
15. 18-month rolling window
Don’t forget that you have 18 months to take and pass all four sections of the CPA exam. You can’t miss this time limit. You may take the sections in any order and space them however you want, but you can’t exceed that time limit. If you do, you will be forced to reschedule and retake the exam sections.
16. What section of the CPA Exam should you schedule first?
One of the most common questions candidates have when deciding to register for the test is: in what order should I take the CPA assessment ? Choosing between the four assessment sections differs by individual and by how the exam content can change each year. Consider how much content you’ll need to learn when deciding which order to take the CPA exam. In general, when considering which part of the CPA exam to take first, most people choose to do the FAR test or AUD test as their first or second choices.
17.You’re now ready to start your CPA Exam journey!
Last but not the least, you need good quality mentoring from a suitable training institute to crack the test at one go. Uplift Professionals, is a premier training institute for test providing online classes powered by reputed and time tested Gleim CPA review materials.
US CPA salary in India ? In India a fresh CPA starts with a minimum salary of INR 6 Lakh annually in a Big4 or MNC. The salary increases at higher rate compared to non-certified peers. Meanwhile, a CFO can earn more than INR 1 Cr annually.
18. CPA Exam Testing Date 2023:
19. CPA Exam: 2024 Test Administration Schedule/Score Release Timeline:
20. CPA Exam Result Date 2023:
21. Summary
By going through the above information, now you might be quite well acquainted with the steps involved for scheduling your CPA exam in 2020. As you make plans to study for the CPA, you should schedule the CPA exam, figure out the dates you want to take the test, and make sure you give yourself enough time. Remember, you interact with a few different organizations and websites during this process. After your application is submitted to the State Board of Accountancy, they will review documents to confirm your eligibility. Until you have your NTS, you should not schedule the CPA exam. If a delay occurs, you could be bumped off of the schedule or have your plans change unexpectedly. Take the exam head on with the right CPA prep.
About the top CPA US Course training institute in India, Africa, and Middle East – Uplift Pro
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.
Professionals often face a dilemma when it comes to selecting their accounting career, particularly in India. There are two prestigious accounting credentials namely US CPA and Indian CA. There is no conflict between the these two courses, but some differences exist.
The pertinent question is whether a CPA without CA is really effective in an Indian context ? It often comes to mind whether one can pursue CPA without CA and do such journeys bring effectiveness? The short answer is Yes – one can do CPA US course in India without completing CA which is also very effective. To address this, let’s see the differences between the two courses.
How Effective is CPA US without CA? Must Know Differences -Uplift Professionals
Difference Between CPA US course and CA
CPA stands for Certified Public Accountant and these exams are conducted by American Institute of Certified Public Accountant (AICPA) and this course takes a minimum of 7 months and a maximum of 1 year to complete.
CA stands for Chartered Accountant. The exams are conducted by Institute of Chartered Accountants of India (ICAI) and this course takes an average of 4 to 5 years to complete.
Most important question is whether CPA US course benefits the career path or CA?
1. There is no clear winner because both qualifications helps to develop technical and accountancy, and business management skills.
2. Both CPA and CA holders tend to be equally spread across commercial and public accounting – so each qualification provides maximum flexibility to work across the industry.
Eligibility Criteria
CPA US course
CA
If you wish to appear for Certified Public Accountant Examination, you need to clear Bachelors in Commerce (B. Com) with a first-class or you need to have a Bachelor’s in Commerce and also a Post-Graduation Degree.
If you have Indian CA’s designation with B. Com than also you can appear for CPA examinations. Also, checkout Careers after B.com
If you want to appear for Indian CA Examination you need to appear for Common Proficiency Test (CPT) after appearing in Senior Secondary Examination (recognized by the Central Government of India.
CPT Examination is held in June & December every year. Hence the first step you need to do is you need to register for Common Proficiency Test 60 days
It is to be noted that CPA US course are concerned with US auditing and GAAP . CA is concerned with corporate legal needs, taxation, and other difficulties. CPAs have a thorough knowledge of GAAP, which is why many global firms located in the United States hire them.
CPAs are recognized as professionals who perform public accounting and financial services by the AICPA. Having a solid clench of accounting concepts, CPAs appear more professional, experienced, and talented in the accounting field.
Benefits of the CPA License
In is this section, let us discuss the benefits in having a CPA credential, especially for professionals who plan to work with US-based companies.
1. Firstly, the CPAs have a deep understanding of US GAAP (Generally Accepted Accounting Principles) and US federal income tax.
2. Secondly, they are comfortable with other accounting documentation used by companies that are publicly traded on US markets.
In many states, only CPAs can sign an audit report on behalf of an accounting firm. Further, some states dictate that only CPAs can provide compilation services.
Many big corporations strongly prefer their senior financial professionals to have a CPA qualification to show their knowledge and expertise in the accounting field. The CPA license is globally recognized.
Moreover, international employers understand that the content of the CPA Exam focuses on United States accounting laws, regulations, and practices.
What is US CPA ? Why and How to become a US CPA – A complete guide on CPA US Course including Eligibility, Details, Duration, Syllabus, Job & Salary, Exam & Pass rate, Structure of US CPA exam, Fees, etc….continue reading ..
Indian CA
Like CPAs, CAs (or chartered accountants) must pass the CA Exam and meet experience benchmarks that have been established in their country. CAs are experts in the IFRS (International Financial Reporting Standards) and other international accounting standards. T
The role of Indian CAs is very similar to that of CPAs in the United States. However, the main difference is that Indian chartered accountants’ services are limited to India, while the CPA US course credential is recognized around the globe.
Indian CA Eligibility for US CPA Course
Let’s review some common situations for Indian accounting professionals and how they can meet the education requirement for the US CPA.
BCOM Only
The BCOM (or Bachelor of Commerce) is a common degree for Indian professionals wishing to go into the accounting field. The degree is worth about 90 US credit hours, you will need an additional degree or other education hours to get your CPA license. You could consider an MCOM or a related master’s degree in accounting or taxation.
MCOM Only
In case of candidates with master’s degree in an accounting field such as the MCOM (Master of Commerce); they will have no problem in getting qualified for the US CPA exam. The educational level is sufficient to fulfill the general higher education requirements.
BCOM + CA
Professionals having BCOM and the CA credential, however, it is getting a lot tougher to get qualified as a CPA. In the past, some US jurisdictions considered the CA to be worth 40 US education credit hours.
With a 3-year BCOM (equivalent to 90 hours) and a CA (previously equivalent to 40 hours), candidates could reach the 120 hours required to sit for the US CPA exam in most states. Then, they could take a few extra courses to meet the 150-hour requirement to get the CPA license.
Since an overhaul of the standards in 2012, most Boards of Accountancy changed their interpretation of the CA qualification.
Most states view the CA as an “experience qualification” rather than an “academic qualification.”
3. Question Pattern: Objective Type Test for each correct answer 1 mark and for wrong answer negative 0.25
1. Exam II: Auditing & Attestation (AUD CPA Exam)
2. Duration: 4 hours
3. Question Pattern: 3 multiple choice test lets (60% weightage) & 7 short task-based simulations (40% Weightage)
1. Level II: Integrated Professional Competence Course
2. Duration: 7 Papers arranged into Two groups (Each Paper of 3 hours)Group I: Advanced Accounting, Law, Ethics & Communication, Cost Accounting, and Financial Management, Taxation Group II: Advanced Accounting, Auditing & assurance, Information Technology & Strategic Management.
2. Duration: 8 Papers arranged into Two groups (Each Paper of 3 hours)Group I: Financial Reporting, Strategic Financial Management, Advanced Auditing & Professional Ethics, Corporate & Allied Laws.Group II: Advanced Management Accounting, Information Systems Control & Audit, Direct Tax Laws, Indirect Tax Laws.
3. Question Pattern: Theory & Practical Based
1. Exam IV: Business Environment & Concepts (BEC CPA Exam)
CPA designation will open a door of wide varied options.
After getting your CPA certification you can work under various accounting fields such as International Accounting, Internal & External Auditing, Consulting Services, Forensic Accounting, Assurance services, Taxation & Financial Planning, etc.
With its global recognition, you will find the best place to work anywhere in many countries.
Similarly, CA Designation will also provide you many options in the specialized areas of accounting such as Auditing, Taxation, Corporate Finance, Corporate Laws.
After getting your CA Certification you can either work in the existing top firms of Accountancy or you can start your own independent professional practice.
Salary Comparison
CPA US course
CA
The average salary earned by the CPA Professionals (in India) is found to be INR 7,68,552 per year.
Most people move on to other jobs if they have more than 10 years’ experience in this field.
A Chartered Accountant (in India) earns a salary of INR 6,08,976 per year on an average.
Skills that are associated with high pay for this job are Evaluation and Management Auditing, Budget Management, Financial Analysis, Strategic Accounts, and Financial Advisor.
People in this job generally don’t have more than 10 years’ experience. Experience strongly. Influences income for this job.
Demand for US CPA course is Increasing in India
In the past few decades, many multinational companies have increased presence in India. Often, the financial reporting of Indian business needs to be integrated with global accounts (US GAAP or IFRS).
As a result, accounting professionals need to be familiar with multiple standards.
In the past, MNC’s relied on Indian CAs for accounting services. On-the-job trainings ensured that Indian accounts met the US GAAP standards .
However, many Indian CAs received inadequate training and supervision in US standards. Therefore, errors and inconsistency were common in accounting reports . Further, these oversights created issues with the SEC (U.S. Securities and Exchange Commission) and other US regulatory bodies.
CPAs are needed for US GAAP reporting and for general controller roles for US subsidiaries in India. Global Indian companies publicly listed in the US require US CPAs for quarterly and annual financials. They rely on CPAs for conformity with the Sarbanes-Oxley Act and other compliance reporting.
Practical benefits of US CPA course – Becoming a CPA US in India is an aspiration for many finance professionals and accountants. Most CPAs agree that becoming a US CPA completely transformed their career.Further reading.…
Conclusion
Going back to the essence of the topic, the answer is yes.
CPA without CA is quite effective in terms of career. Both courses have their own pros and cons. It is not an easy task to opt between CPA & CA as both have a successful career.
Candidates planning to work abroad or in a multinational company, should consider CPA US course. Alternatively, if you want to start your own audit practice in India, opt for CA.
CAs have an edge over CPAs in the areas of taxation and corporate laws. Professionals planning to work for a company which is traded on the US market, should consider acquiring the CPA US course.
Considering the longer duration and low pass rate in CA exam, US CPA offers a fruitful and valid option for Indian accounting professionals .
It can be stated that CPA without CA is equally effective in career building potential of accounting professionals. US CPA course can stand alone without the CA as the credential and career scope of the former is global.
US CPA Exam 2021 – New Updates In 2020, the US CPA exam in India had few changes; the most prominent change was the introduction of the CARES Act to the REG section effective in Q4 2020. In 2021, the US CPA Exam will undergo additional changes, mainly to the AUD & BEC sections, with minor revisions to the remaining two sections – FAR & REG….continue reading
About the top CPA US Course training institute in India, Africa, and Middle East – Uplift Pro
Uplift Pro is one of the top training institutes for the US CPA, US CMA, US CIA, Enrolled Agent US, ACCA UK courses in India, Africa, and Middle East. Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong backup to young ambitious students and professionals to reach their desired career destinations in an organized way.
Uplift Pro, is an authorized partner of Gleim in India, provides you with authentic Gleim materials, updates and Live Online Interactive Classes for CPA US by internationally experienced veteran mentors. All at an Indian Cost.
