Are you willing to work in a competitive environment? Are you excited about working with the numbers or finances of the organization? Then a CPA could be the right choice for you! Have you ever heard of this program? If not, this post could be of great help to you.
Well, yes. A CPA course (Certified Public Accountant) qualification will certainly help you count and mint money but for others! The CPA, or Certified Public Accountant, is a credential offered by the AICPA. This certification demonstrates expertise in accounting, auditing, taxation, and financial analysis. The CPA course equips individuals with the skills needed for various accounting roles, including management consulting. Though rigorous, the program offers significant professional opportunities and recognition. Completing the CPA course showcases a high level of competency in the field of accountancy, opening doors to advanced career prospects.
With the emergence of new businesses and the expansion of the distribution of resources, there is an urgent need for professional accountants who can act as financial advisors and keep track of all cash resources. To meet this demand, certified public accountants have been in high demand ever since. If you are looking forward to a lucrative career in business and accounting and want to be a globally recognized professional, then completing a CPA course is the first step toward achieving your dream.
Excited? Ready to explore further? Come along… But first thing first, let’s understand…
Topics covered
What is a CPA course in the USA?
The CPA credential is the only licensing qualification in accounting & auditing in the US and is accepted globally. CPAs are in demand and needed everywhere – at public accounting firms (including Big 4) and every company whether big or small (including MNCs).
There are 55 jurisdictions (50 states & 5 U.S. territories) with independent Boards of Accountancy. You must pass all four sections of the CPA Exam within 18 months. It is a computer-based test. You cannot take it on paper.
It’s Indian Counterpart
The Indian CA qualification isn’t recognized in the USA. Although there is CPA and chartered accountant reciprocity between the US and some countries, no agreements currently exist between the US and India.
Therefore, an Indian CA wishing to work as a professional certified public accountant in the US must apply for the CPA course too.
Overview of the CPA Course
Here are a few highlights of the CPA course:
| Course | CPA |
| Course Type | Certification |
| CPA Full form | Certified Public Accountant |
| CPA Course Duration | 18 months |
| Eligibility | Bachelor’s degree |
| Employment opportunities | Auditing Clerk, Accounts Receivable Clerk, Accounting Assistant, Accounts Payable Clerk. |
| Similar Course | CFA |
| Starting salary offered | 8 – 10 Lakhs Per Annum |
Eligibility of CPA Course
Becoming a Certified Public Accountant (CPA) is a prestigious achievement in the field of accounting and finance. The eligibility criteria for CPA course aspirants differ between US citizens and international candidates. This article outlines the general requirements for pursuing a CPA certification, with a special focus on Indian students.
Basic Eligibility Criteria
To enroll in a CPA certification program, candidates must hold a graduation degree or its equivalent. To earn the CPA license, completing 150 semester hours of the CPA course is mandatory. Additionally, many states require candidates to have 1-2 years of work experience under a licensed CPA.
Special Requirements for Indian Students
Indian students need to be members of ICAI, ICMAI, or ICSI. Alternatively, holding an MBA or MCom degree also makes them eligible. The credit system in India aligns differently with the US requirements, necessitating further education or bridge courses for some candidates.
Credit Requirements
According to AICPA guidelines, students must accumulate 120 credits to sit for the CPA exam and 150 credits to obtain the CPA license. Out of the 120 credits, 24 must be in Accounting and another 24 in Business.
Pathways for Different Graduates
For Bachelor’s Degree Holders
Commerce graduates from NAAC-accredited colleges meet the 120-credit requirement but may need additional credits for the license. Non-NAAC graduates need a 1-year bridge course for the exam and a 2-year course for the license. Non-commerce graduates, such as engineers, typically meet the credit requirement but lack the necessary Accounting and Business credits. They must pursue a 2-year course in these subjects.
Master’s Degree Holders and Professionals
Candidates with a master’s degree like MBA or MCom usually meet the 120 credits requirement but must verify their specific Accounting and Business credits. Professional charter holders like CA, CS, and CMA are eligible to take the CPA exam and apply for the license without additional coursework.
CPA Course Exemptions
The CPA course offers several exemptions to streamline the certification process for eligible candidates. These exemptions recognize prior qualifications and reduce the number of exams required.
- CA/CMA Finalists: Candidates with final exam scores of 50 or higher can get paper-by-paper exemptions. Certified CA/CMA members are fully exempt from training, as they are considered to have passed the CPA exams.
- CA/CMA Intermediate Students: These students are excluded from Advanced Financial Accounting and Reporting (AFAE) and Business Regulatory Framework and Company Law (BRLC) topics.
- CS Candidates: Those who meet specific criteria for Company Secretary are exempt from business and tax law exams.
- Chartered Tax Practitioners: Qualified practitioners are automatically exempt from the first four exams, needing to pass only the final four.
- ACCA Advanced Diploma Holders: They must complete exams on Indian Taxation Laws, Business Laws, and Indian GAAP before qualifying for the CPA or Chartered Tax Practitioner (CTPr) Award.
Meeting the CPA course eligibility criteria requires careful planning and understanding of credit requirements. Indian students and international candidates need to align their education with US standards, often through additional courses.
Steps to become a CPA in India
Becoming a Certified Public Accountant (CPA) in India involves a structured process. This section outlines the essential steps:
Academic Evaluation
The journey begins with an academic evaluation. Candidates must ensure they meet the educational requirements, which vary by state. Typically, a bachelor’s degree in accounting or a related field is necessary. Some states may have additional coursework requirements.
Application to Take the Exam
Once the academic qualifications are verified, candidates need to apply to take the CPA exam. This involves completing and submitting the necessary forms, which may include transcripts and proof of coursework.
Study for the Exam
Preparation is key to passing the CPA exam. Develop a study plan tailored to your schedule. Decide whether to prepare for one section at a time or multiple sections simultaneously. Numerous resources, including review courses and study materials, are available to aid in this process.
Schedule the Exam
After receiving the Notice to Schedule (NTS), book your exam dates. It’s advisable to schedule well in advance to secure your preferred testing location and dates.
Take the Exam
On the scheduled dates, sit for the CPA exam. You must complete all four sections within 18 months of passing the first section. Each section tests different aspects of accounting knowledge and skills.
Obtain Work Experience
Gaining practical experience is crucial. Typically, candidates need around two years of relevant work experience and a total of 150 credit hours to qualify for licensure. This experience helps in applying theoretical knowledge to real-world scenarios.
Obtain Licensure
After passing the exam and fulfilling the work experience requirement, apply for licensure. This step must be completed within three years of passing all exam sections. The application process includes submitting proof of work experience and educational qualifications.
CPE to Maintain Licensure
To maintain the CPA license, ongoing professional education is necessary. Each state has its requirements for Continuing Professional Education (CPE). This ensures CPAs stay updated with the latest developments in the field.
Following these steps meticulously can lead to a successful CPA career. From academic evaluation to continuous education, each phase is crucial in becoming a licensed CPA in India.
Fees of CPA Course for Indian Students
The CPA (Certified Public Accountant) course is a prestigious certification for accounting professionals. In India, the fee structure for the CPA course includes various components such as training, evaluation, and exam fees. Below is a detailed breakdown.
Training Fee
The training fee for the CPA course in India ranges from INR 1,05,000 to INR 1,20,000. This fee covers the educational materials and preparatory courses needed to pass the CPA exams.
Evaluation Fee
The evaluation fee ranges between INR 17,000 and INR 22,000. This fee is required to assess the candidate’s educational qualifications and eligibility for the CPA exams.
Exam and Testing Fees
The total exam fee, including the international testing fees, is around INR 2,00,000. Here’s a detailed table:
| CPA Exam Section | Fee (in USD) | Fee (in INR) |
| Auditing and Attestation (AUD) | $356.55 | INR 29,300 |
| Business Environment and Concepts (BEC) | $356.55 | INR 29,300 |
| Financial Accounting and Reporting (FAR) | $356.55 | INR 29,300 |
| Regulation (REG) | $356.55 | INR 29,300 |
| International Testing Fee | $1,500 | INR 1,23,000 |
| Assessment Fee | $225 | INR 18,450 |
| Total | $3,151.20 | INR 2,58,650 |
Note: The total cost of the CPA course for an Indian student averages between INR 3.5 to 3.6 lakhs, including training, evaluation, and exam fees. With the CPA exams now available in India, students no longer need to incur additional travel expenses, making the certification more accessible.
Syllabus of CPA Course
The structure of the USA CPA course – a 4-hour exam that consists of four parts. Applicants must complete all sections within the 18-month testing window. They can choose any section in any order during one open testing window. Candidates can take any number of tests in the same window. However, there is one catch. Candidates cannot take the same section twice in the same testing window. And if they fail one part of the exam, they won’t be able to retake that exam until the next testing window opens for them. We have listed these core CPA course subjects and possible areas for questions below:
Auditing and Attestation (AUD)
- Conclusions and Reporting
- Ethics, General Principles, and Professional Responsibilities
- Performing Further Procedures and Obtaining Evidence
- Risk assessment, Response Development
Business Environment and Concepts (BEC)
- Corporate Governance
- Economic Concepts and Analysis
- Financial Management
- Information Technology
- Operations Management
Financial Accounting and Reporting (FAR)
- Financial Accounting
- Financial Statement Accounts
- Local and State Governments
- Standard-setting, Conceptual Framework, and Financial Reporting
- Transactions
Regulation (REG)
- Business Law
- Entity Federal Taxation
- Individual Federal Taxation
- Professional Responsibilities, Ethics, and Federal Tax Procedures
- Property Transaction Federal Taxation
What After CPA Course?
A CPA qualification is a gateway to a prestigious and rewarding career in finance. It equips professionals with the skills necessary to handle complex financial situations and provide valuable insights to businesses and individuals alike. Let’s explore the scope of a CPA course and the career paths it offers.
Job Roles and Responsibilities
CPAs perform a wide range of tasks that are crucial for financial management. Some of their key responsibilities include:
- Preparing and Assessing Financial Records: CPAs ensure that financial statements are accurate and comply with regulations.
- Maintaining Financial Records: They keep track of all financial activities, including assets, liabilities, and taxes.
- Preparing Financial Reports: CPAs create detailed reports for clients to help them understand their financial status.
- Ensuring Compliance: They make sure that all financial practices adhere to government regulations.
Career Opportunities and Salaries
CPAs are in demand across various sectors, including corporate houses, industry, government, private, and non-profit organizations. Here are some of the job profiles and their average salaries:
- Accountants: Provide financial advice, audit statements, and prepare tax returns. Average Salary: INR 3.2 LPA
- Auditors: Review financial records for accuracy and compliance. Average Salary: INR 4.4 LPA
- Forensic Accountants: Investigate financial discrepancies and fraud. Average Salary: INR 9.9 LPA
- Management Accountants: Assist in strategic decision-making, budgeting, and planning. Average Salary: INR 7.7 LPA
- Tax Consultants: Offer expert tax advice and ensure regulatory compliance. Average Salary: INR 7.8 LPA
Top Recruiters
CPAs are sought after by many top companies, reflecting their vital role in financial management. Some of the prominent recruiters include:
- Unilever
- Accenture
- Wipro
- Infosys
- Deloitte
- Goodwin
- TCS
- Michael Page
- Gamut HR Solutions
Final Thoughts!
The CPA course offers excellent career opportunities in both India and the USA. In India, CPAs are highly valued in multinational companies, Big Four firms, and financial consultancies due to their global expertise and US GAAP knowledge. In the USA, CPAs enjoy a prestigious status with high demand in public accounting, corporate finance, and government sectors, benefiting from a robust job market and higher earning potential. Both regions offer promising career growth and diverse job prospects.
Do you still have queries? Don’t worry! Talk to our study abroad, experts! iDreamCareer aims to reach every state and every child to ensure that talent is properly delivered to the industry.
Talk to our study abroad experts to find out for yourself! We have helped several brilliant but confused minds to choose the most suitable career. We have helped many students like Anjana Prasanna who was not very confident about her abilities. Later, with the help of career guidance and moral support from our study abroad experts, she received an offer from King’s College London! We have helped several young confused minds like Aayush and Tapan to choose the most suitable career for them.
Also Read:
- How to become Accountant in India
- Career Options After 12th Commerce
- Best Courses after 12th Commerce
- Career as a Chartered Accountant
- Career Options for Women
- CPA Exam (official portal)
- CMA Courses
- NASBA (official portal)
- CA Course: The #No.1 Full Stack Guide to Chartered Accountancy
- CA: All you need to Know
- Career in Finance
- Public Universities in USA
FAQs
Yes, pursuing the USA CPA course is worth it for accounting professionals looking for global recognition and career opportunities. The certification enhances expertise, and credibility, and opens doors to lucrative roles in top accounting firms worldwide.
Here are the 5 best CPA prep courses: Best Overall: Becker CPA Review; Runner-Up, Best Overall: UWorld Roger CPA Review; Best Artificial Intelligence Tools: Surgent CPA Review; Best Value: Gleim CPA Review; Best Price: Ninja CPA Review, etc.
The duration of the CPA (Certified Public Accountant) course typically ranges from 12 to 18 months. However, the exact duration can vary based on individual study pace, exam scheduling, and completion of required coursework. Completing the CPA course involves passing four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG).
The key question that arises is – does CPA benefit my career or CA? There is no clear winner because both qualifications will help develop your technical, and accounting skills. read on, and business management skills.
The CPA exam is challenging for the following reasons: It covers a wide range of subjects and topics that test candidates at different levels. It assesses all candidates in the form of questions that give them real-world experience.
Anushree Rastogi is a Senior Content Writer at iDreamCareer, bringing over 5 years of expertise to the field of career counseling. She has done a PGDM in Marketing and Finance and possesses a unique blend of skills that allows her to craft engaging and informative content. She is passionate about helping individuals navigate their career paths and has dedicated her career to providing valuable insights through her content. Her commitment to excellence and keen understanding of the career landscape make her a trusted guide for those seeking professional direction. With a flair for clear and engaging writing, Anushree is on a mission to empower others to make informed and fulfilling career choices.
