What is a Certified Public Accountant(CPA)?
CPA stands for Certified Public Accountant which is conducted by American Certified Public Accountant (ACPA). It is considered as the highest level of accounting course all over the world and counts as a higher competitive exam throughout the world and most of the people participate in this exam. It is administered by the National Association of State Boards of Accountancy (NASBA). The United States has 55 states and all states have their own State Board of Accountancy. Certified Public Accountant (CPA) license is a professional license in the US and it is issued by one of the 55 states of the US which are members of NASBA.
Procedure to get CPA course
It’s not an easy task to get a Certified Public Accountant (CPA) because this is not the kind of course that you will get just by submitting fees. This is a professional course, which has to be cleared by an exam so that the institute checks your stability for this course by knowing whether you are eligible for this course or not.
Uniform CPA is the exam which is the first step to get a CPA license and CPA course and if you have completed an exam then you will be eligible to submit the CPA application form and will be able to take training from high potential institutes of foreign education.
Qualification required for CPA course
CPA requires high qualifications such as a graduate degree in the commerce field to pass the uniform CPA and then give a chance to submit an application form for the training of CPA with a certificate from high professionals CPA trainers. If you want to build a career in CPA, you must have examination requirements such as:
- Must have a graduation degree in business, finance, public accounting, and various subjects belong to accounting.
- Must have a minimum of 60% in graduation
- It requires 150 accounting credits
- In India, most suitable for those who have completed their post-graduation (M.COM, MBA professionals), CA, ICWA, CS, LLB, because it is not difficult to get a CPA course after achieving a professional degree.
The demand for Certified Public Accountant (CPA) courses is increasing day by day in India along with foreign countries. As we know that course has a US course but it can be done by any country people by fulfilling certain conditions. In India, the craze of CPA course is increasing and everyone wants to do it due to some motives:
- People of India want to settle abroad(US)
- Some people want to work with US firms from India
- Some people want a high salary package.
Education laws and rules are different in India and foreign countries like:
In India, people choose Chartered Accountants after completing graduation of 3 years. On the other hand, in foreign countries like the US and UK, people choose CPA after completing 4 years of graduation.
CPA requires 150 accounting credits and in India, after completing graduation, people must also have a Post-graduation degree to apply for CPA exams and after PG, 1 year of a professional course in accounting such as public accounting.
After completing these requirements, people become fully eligible for the CPA exam.
Information regarding the CPA exam
Certified Public Accountant has four papers:
- Audit and Attestation (AUD)
- Business Environment and Concepts (BEC)
- Financial accounting and Reporting (FAR)
- Regulation (REG)
These are the papers that are in CPA exams and which have to be cleared by the people within 1.5 or 18 months. If you have not cleared the CPA exam within 1.5 years after taking or completing the course, then you have to submit registration again for the CPA course. In simple words, you have to repeat the procedure.
The fee duration of the CPA course is between 3 to 5 lakhs.
Is CPA the same as CA?
No, CPA is different from CA for some reasons:
- CPA is like a CPA but there is the main difference is that the CA course is a national course and CPA is an international course.
- Another difference is CPA professional course fee is higher than CA.
- CPA professional salary is higher than CA.
- CPA exam held in foreign countries mainly in the United States and Dubai.
- CPA has just 1 exam level and CA contains 3 levels of exams.
You know what, CPA exams are held in the United States and Dubai so Indian people had to go to foreign countries, due to which their expenses would also be high such as traveling expenses, and other expenses but now the institute is holding CPA exams in India, so Indians don’t have to go to foreign countries.
Benefits of CPA
High salary expectations:
After completing this course, people get a high salary package from big multinational companies and get opportunities to work with foreign companies.
CPA salary package in India: Minimum 7 lakh per annum.
CPA salary package in Foreign countries: Minimum 40 lakh per annum.
Placement from Institutes:
After clearing the CPA exam, students get a placement from institutes because MNCs and hire employees directly from institutes. If someone wants to work with foreign countries so can also be eligible to apply for those companies.
CPA is the best career opportunity for accounting profession students. If you want to earn more money in a profession so you can apply for the CPA exam.