US CPA Exams in India

PURPOSE OF THE US CPA EXAM

The US CPA Exam is designed to measure professional competence in auditing, business concepts, business law, taxation, and accounting. It also tests related business skills to assess a candidate’s knowledge as well as the ability to apply such knowledge skillfully and with good judgment. Finally, it verifies a candidate’s thorough understanding of professional responsibilities and ethics. All these factors contribute immensely to the US CPA Exam’s difficulty. 

STRUCTURE OF THE US CPA EXAM

1. Auditing & Attestation Allocation

2. Business Environment & Concepts

3. Financial Accounting & Reporting

4. Regulation

THE US CPA EXAM CONSISTS OF THE ABOVE FOUR SECTIONS

WEIGHTAGE OF THE US CPA EXAM TOPICS

Exam topic percentages do not necessarily mean you will see those in same percentage of exam questions on your cpa exam. 

AS PER AICPA’S GUIDELINE, FOLLOWING WILL BE THE WEIGHTAGES OF THE BELOW TOPICS W.E.F JULY 1, 2021.

– Ethics, Professional Responsibilities and General Principles 15-25%
– Assessing Risk and Developing a Planned Response 25-35%
– 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%
– Performing Further Procedures and Obtaining Evidence 30-40%
– Forming Conclusions and Reporting 10-20%
– Conceptual Framework, Standard-Setting and Financial Reporting 25-35%
– Select Financial Statement Accounts 30-40%
– Select Transactions 20-30%
– State and Local Governments 5-15% 
– Ethics, Professional Responsibilities and Federal Tax Procedures 10-20%
– Business Law 10-20%
– Federal Taxation of Property Transactions 12-22%
– Federal Taxation of Individuals 15-25%
– Federal Taxation of Entities 28-38%

*Content weighting reflects Blueprints effective July 1, 2021.

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. 

Some of our exclusive features include –

A. Affordable US CPA course fees

B. CPA certified veteran TEAM of faculties

C. Live online classes ensuring that the regular office working hours is least impacted. Also, provides class recordings to students.

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

E. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass

F. Premium study materials with practice questions bank enabling students to pass the US CPA exam in India and rest of the world

G. Administrative guidance on US CPA evaluation procedure

H. Placement assistance

Request for Live Demo class / contact at +91-8787088850 to book your seats now.

The AICPA has recently announced the updated US CPA exam blueprint. Among all the 4 papers of US CPA course, AUD and BEC papers have undergone major changes. The purpose of the change is to make the upcoming US CPAs more capable to perform their duties productively.

Updated US CPA Exam Blueprints (November 20, 2020)

The US CPA course exam consists of 4 papers: AUD, FAR, BEC & FAR. Each paper is 4 hours long. The changes are described below:

A. Auditing and Attestation (AUD)

The Auditing and Attestation (AUD) section of the Uniform US CPA exam tests the essential knowledge and skills a newly licensed CPA must demonstrate when performing audit engagements, attestation engagements or accounting and review service engagements.

Newly licensed CPAs are required to:

• demonstrate knowledge and skills related to professional responsibilities, including ethics, independence and professional scepticism.

• understand the entity including its operations, information systems (including the use of third-party systems) and its underlying business processes, risks and related internal controls.

• understand the flow of transactions and underlying data through a business process and its related information systems.

Content Area	Weightage covers
Area I Ethics, Professional Responsibilities and General Principles	15–25%
Area II Assessing Risk and Developing a Planned Response	25–35%
Area III Performing Further Procedures and Obtaining Evidence	30–40%
Area IV Forming Conclusions and Reporting	10–20%

AUD content weighting changes

·         Area II increased from 20%-30% of the section to 25%-35%.

·         Area IV decreased from 15%-25% of the section to 10%-20%.

Business Environment and Concepts (BEC)

The Business Environment and Concepts section tests knowledge and skills that a newly licensed US CPA must demonstrate when performing:

• Audit, attest, accounting and review services

• Financial reporting

• Tax preparation

• Other professional services

Content Area	Weightage covers
Area I Enterprise Risk Management, Internal Controls and Business Processes	20–30%
Area II Economics	15–25%
Area III Financial Management	10–20%
Area IV Information Technology	15–25%
Area V Operations Management	15–25%

BEC content weighting changes

·         Area I increased from 17%-27% of the section to 20%-30%.

·         Area II decreased from 17%-27% of the section to 15%-25%.

·         Area III decreased from 11%-21% of the section to 10%-20%.

How will these changes imply upon the CPA US aspirants?

The above-mentioned changes will not be tested until July 1, 2021. More questions in AUD will test you at a higher level, so AUD will definitely get more difficult. It’s a good idea to try to pass AUD before the changes go live.

The changes to BEC appear relatively minor. With Continuous Testing now available in India too getting started today will ensure you have enough time to take both sections before July 1.

Continuous CPA testing window in 8 prometrics of India

After a successful pilot testing of the US CPA exam in India during 2020, the American Institute of Certified Public Accountants (AICPA) and National Association of State Boards of Accountancy (NASBA) have decided to switch to continuous US CPA Exam testing from January 1, 2021. The prometrics are:

– Hyderabad
– Ahmedabad
– Mumbai
– Delhi
– Bangalore
– Chennai
– Kolkata
– Trivandrum

CPA Exam Testing Coming to Nepal (October 29, 2020) 

Kathmandu will become the latest US CPA Exam testing location when administration of the Exam begins in Nepal on December 1.

Eligible candidates from Nepal, Bhutan, Bangladesh, India, Myanmar, Maldives, Sri Lanka, and the United States may begin scheduling their Exams on November 1, 2020. Testing will be offered year-round.

Middle East Candidates Gain Testing Options (October 29, 2020) 

Egypt and Jordan join other Middle East countries where the US CPA Exam is offered. The new testing countries have the same eligibility as existing locations.

Candidates from Bahrain, Egypt, India, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, UAE, U.S. and Yemen may sit for the CPA Exam in Egypt and Jordan. Testing begins on November 1, 2020.

Incase you missed on how to choose the best US CPA exam preparation tips continue reading..

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. 

Some of our exclusive features include –

A. Affordable US CPA course fees

B. CPA certified veteran TEAM of faculties

C. Live online classes ensuring that the regular office working hours is least impacted. Also, provides class recordings to students.

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

E. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass

F. Premium study materials with practice questions bank enabling students to pass the US CPA exam in India and rest of the world

G. Administrative guidance on US CPA evaluation procedure

H. Placement assistance

Request for Live Demo class / contact at +91-8787088850 to book your seats now.

The Certified Public Accountant, commonly referred as the US CPA course , is a globally recognized public accounting certification. 

Individuals who often take up accounting as a career prefer to go for further certifications to enhance their accounting skill and update their knowledge.

One of the most preferred qualification chosen by the accounting students is the US CPA certification. US CPA course is a four-paper course: 

1. Auditing and Attestation (AUD)
2. Business Environment and Concepts (BEC)
3. Financial Accounting and Reporting (FAR)
4. Regulation (REG).

Why the US CPA course certification is highly demanded? 

CPAs these days are keeping every industry on track. It is seen CPAs have become one of the most important decision makers in organizations. Being a qualified CPA, finance professionals are capable to analyse and interpret financial information which helps them to understand where the business is actually heading.

Working as a qualified US CPA professional in the US will open the door of opportunities. The major function of a US CPA course is to offer public accounting services but they are also responsible for tax preparation and audit functions.

Why Indians go for the US CPA?

Each year in India, more than a lakh students enroll themselves for the Indian CA/ ICWA. The role of a CA and CPA is very similar. The major difference between both the certifications is Indian CAs are well known within India but when it comes to perform on a global scale US CPA course is more valued by the companies, mainly the ones having their business in the US. Hence we get global recognition by pursuing CPA US.

There are plenty of companies in India who run their business on global platforms mainly in the US. US GAAP and IFRS are the most integrated tasks within the multinational companies. It is seen that because of scarcity of CPAs in India, Indian CAs perform these tasks after being trained by the companies.

Thus the more number of MNCs are setting up their businesses in India, the higher is getting the demand of CPAs in this country. It is believed CPAs are able to work in wide variety of areas of finance compared to their counterparts.

Steps to become a CPA US ( specially for an Indian/non-US student):

To become a qualified Public accountant, candidates will have to meet the 3 E’s of CPA – Education, Examination and Experience.

#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. 

  # Examination: 

 1.Eligibility Evaluation- The first step towards the CPA examination is to “Transcripts evaluation”. Before selecting the State board of accountancy, candidates will have got their educational documents (transcripts) evaluated by the evaluating agencies. The well-known evaluation agencies are NIES and FACS. The CPA evaluation process takes 4 -5 weeks of time.

2. Once the state board is confirmed, candidates can apply then apply to the state board for the examination. Pay the exam fee and schedule the testing appointments at the Prometric centre.

3. The US CPA exam is held quarterly. The exam is conducted online. The test locations are Dubai, USA, Bahrain, Kuwait, Lebanon, Brazil, China. In April, 2020 NASBA (The National Association of State Boards of Accountancy) due to global pandemic had opened the testing window in India. The testing window for the US CPA exam has been extended in India till December 2020. The exam consist Multiple Choice and Task based questions. The candidates must score at least 75% to qualify the examination.

4. Candidates should remember they will have to pass all the 4 papers of CPA US within 18 months from the time they clear the first paper. After clearing all the 4 papers, one can now apply for the CPA License.

 #   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.

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.

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. 

Some of our exclusive features include –

A. Affordable US CPA course fees

B. CPA certified veteran TEAM of faculties

C. Live online classes ensuring that the regular office working hours is least impacted. Also, provides class recordings to students.

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

E. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass

F. Premium study materials with practice questions bank enabling students to pass the US CPA exam in India and rest of the world

G. Administrative guidance on US CPA evaluation procedure

H. Placement assistance

Request for Live Demo class / contact at +91-8787088850 to book your seats now.