The highest standard of competence in the field of Accountancy across the globe is that of a Certified Public Accountant (CPA).
Through this article you get to know everything about CPA Course. We aim at intending to draw a roadmap of global opportunities pertaining to the US CPA Course.
Today, global businesses are booming all time high and now becoming part of them is no longer a distant dream for many. A US CPA stands for a Certified Public Accountant and is the highest accounting credential in the United States with global recognition and credibility. This prestigious title is given by the American Institute of Certified Public Accountants AICPA which is the world’s largest accounting body. The National Association of State Boards of Accountancy (NASBA) exists to enhance the effectiveness of the country’s State Boards of Accountancy. It helps 55 state boards to evaluate CPA candidates by determining educational requirements and move candidates through the CPA exam process.
Any professional who has completed the standardized CPA test and have gained requisite and appropriate working experience can be designated with the initials of CPA.
Due to the wide spread awareness and acceptance of CPA credential, it’s understood that a CPA possesses the required knowledge of all accounting areas. In a nutshell, a CPA is someone who has mastered all the elements of the accounting profession. This is also one of the many reasons; professional organizations seek CPAs for complex accounting and finance jobs.
The course content of the US CPA is crafted and curated in such a manner that it completely bridges the gap between the syllabus and practical knowledge of all the elements of the accounting profession required for this respectable job.
The US CPA curriculum is divided into 4 subjects namely:
- BEC- Business Environment Concepts
- AUD- Auditing and Attestation
- FAR- Financial Accounting and Reporting and
- REG- Regulations.
For appearing Certified Public Accountant Examination, the candidates must fulfill the below parameters of educational qualifications:
Candidates wanting to pursue US CPA must have a 120 credit score in the field of commerce. According to the US, each year of university education in India is equivalent to a 30-credit score.
As per the Indian education system for a Bachelor degree in commerce (B. Com) a student is entitled to a three-year program. The credit score as per the US is equivalent to 90. A student must have a master degree in the field of commerce or MBA or be a member of the Institute of Chartered Accountants of India or a member of Institute of Company Secretaries of India to fulfill the criterion of 120 credit score.
Apart from fulfilling the academic requirement, there are certain other essential factors which a candidate must be aware about and they are as follows:
- The CPA exam is a computer-based test and is held in 4 Testing windows starting from- January-March / April-June / July-September/ and October-December. However, the registration for the CPA course is open throughout the year.
- The USCPA exams which were earlier held only in US, Dubai and Middle East are now happening in India.
- To become a licensed CPA, one needs to first pass the Uniform CPA Examination that comprises of 4 sections, each of 4-hours.
- The candidates have to clear all 4 sections within 18 months passing window and earn a minimum required score of 75 on each part.
- The testlet section of the exams contains questions like Multiple Choice Questions (MCQ), Task-Based Simulations (TBS) and Written Communication Tasks.
For obtaining the License, a 150-credit score is required, followed by an ethic exam in some states and 2000 hours of work experience under a licensed US CPA.
CPA provides students a wider international perspective and is considered a highest qualification in the field of Finance and Accounting. So, in order to prepare them for exam they are students are exposed to a number of subject areas of Accountancy like Auditing, Taxation, International Finance, etc. This helps them build an international outlook. On one hand, domestic certification limits the scope and opportunities of attaining a job in just one’s home country, whereas, pursuing a US CPA increases the chances of receiving career opportunities from across the globe and in global organizations due to it global acceptability.
US CPA is becoming an unmatched career choice for young and emerging professionals with its undeniably high remuneration rate and also because of the enormous rise of more and more businesses and start-ups which are opening new job opportunities for them.
Another advantage of doing US CPA is that as per the Mutual Recognition Agreement which came into existence in the year 2018 between USA and Canada a licensed US CPA have the rights to practice in Canada as well without undertaking any extra exam.
We hope to have resolved your minds lingering confusion of what is CPA about and whether to pursue a CPA course or not through the above-mentioned piece of information and hope that the same has ignited you to aspire for it.
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