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Every CPA is an Accountant but Every Accountant is Not a CPA

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Rahil Kumar
Every CPA is an Accountant but Every Accountant is Not a CPA

Through this article we aim to provide in-depth information pertaining to the US CPA Course and what it entails.

 

A US CPA is a Certified Public Accountant, a designation administered by The American Institute of Certified Public Accountants AICPA to a professional who has earned the CPA license by clearing the uniform CPA exam from any of the 55 state accountancy boards of USA all of which are part of NASBA (National Association of the State Boards of Accountancy). US CPA is the most sought-after global career option for an accountant, as they are primarily responsible for helping the organization reach its financial goals through performing a number of roles and responsibilities like Auditing and Review, Financial Planning, Business Valuation, Tax Preparation, Company Management, Litigation Services and Forensic Accounting Services. 

 

The Curriculum of the US CPA is well crafted and a respectable one for its depth and breadth of concepts. This exam ensures that candidates are familiar with all concepts necessary for an accounting professional to be able to work under complex situations. 

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.

In order to appear for the Certified Public Accountant Examination, the candidates must fulfill the below parameters of educational qualifications:

  • Member of the Institute of Chartered Accountants of India. (ICAI)
  • Member of the Institute of Cost and Works Accountants in India. (CWA)
  • Member of the Institute of Company Secretaries in India. (ICSI)
  • Master of Commerce. (M.COM)
  • Master of Business Administration (MBA)
  • Bachelors of Commerce (B. Com)

Indian CA’s with B. Com are also accepted by quite a few states in the US. However, the criteria differ from state to state.

After fulfilling the academic requirement which is essential a candidate must consider before going for the CPA exam:

  1. The CPA exam is a computer-based test and is held 4 times in a year from (January 1 – March 10, April 1 – June 10, July 1 – September 10 and October 1 – December 10.)
  2. However, the registration for the CPA course is open throughout the year.
  3. To become a licensed CPA, one needs to first pass the Uniform CPA Examination that comprises of 4 sections, each of 4-hours.
  4. The candidates have to clear all 4 sections within 18 months passing window and earn a minimum required score of 75 on each part.
  5. The testlet section of the exams contain questions like Multiple Choice Questions (MCQ), Task-Based Simulations (TBS) and Written Communication Tasks.

Post qualification of the Uniform CPA exam comes the License Requirement for candidates who wish to practice independently either in US or in India.

  • In general, most states require 150 credit hours in some specific courses from a university or an accredited institute under NASBA.
  • The candidate should pass the Ethics exam.
  • Must have 2,000 hours of work experience equivalent to 1 year in taxation, auditing, accounting and management consultancy under a licensed CPA.

Lastly, we wish to highlight as to why should one pursue US CPA.

To answer that the about cpa course is an internationally recognized and considered to be of highest qualification when it comes to the field of Finance and Accounting. Through the CPA course, the students are exposed to a number of subjects, helping them build an international perspective in areas of Accountancy like Auditing, Taxation, International Finance, etc. Where domestic certification might limit in getting a job in just one’s home country, pursuing a US CPA course makes them a global citizen and increases their chances of receiving career opportunities from across the globe and in global organizations. With the rise of more and more businesses and start-ups, the demand for a US CPA is growing aggressively, not to forget remuneration of a US CPA which is undeniably high, thereby making it an unmatched career choice for young and emerging professionals.

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Rahil Kumar
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