CPA Course Benefits, Eligibility & Examination Details

August 2, 201213 Comments

Here, CPA course details, its benefit, eligibility details and examination schedules are given below for the brief reference about pursuance of CPA USA course in India. CPA stands for the CERTIFIED PUBLIC ACCOUNTANT. CPA is the American accounting course equivalent to the Indian Chartered Accountant qualification. To become a CPA you will have to pass the uniform CPA examinations administered and taken by the American Institute of Certified Public Accountant (AICPA). The CPA examination tests one’s technical knowledge in auditing, law, taxation, management accounting and financial accounting. The CA students can prefer this course to get better job opportunities and better qualification.

 

CPA is the highest professional accounting qualification in U.S.A. and is recognized internationally, including India.

Benefits of CPA Course:-

The benefits of becoming a CPA and it’s relevance in India is really fantastic after becoming CA, some of them are mentioned below.

  • Job opportunities for CPA’s exist all over the world.
  • CPA confirms knowledge of U.S. GAAP and GAAS
  • The Australian and Canadian Chartered Accountants have a reciprocal arrangement with AICPA, U.S.A.
  • American CPA’s automatically qualify for membership in both Canadian and Australian Chartered Accountant societies

Scope of a CPA :-

Scope of CPA in India with American companies:-

After liberalization, American companies like GE Capital, JP Morgan, Ford Motors, General Motors, Microsoft, Oracle, Coke, Pepsi have set up shop in India. They require professionals who have thorough knowledge of U.S GAAP. So they prefer a CPA before any other accounting professional of any curriculum.

Scope of CPA in Indian companies:-

Indian corporates like Infosys, ICICI, Wipro, Satyam, Reliance, HDFC [email protected] have issued ADR’s in U.S.A. Due to the listing requirements of the Securities Exchange Commission (SEC, U.S.A) these companies need to get their financial statements audited by CPA’s Every quarter these companies have to send their financial statements to SEC. These financial statements have to be presented according to U.S GAAP, hence these companies require CPA’s with thorough knowledge of U.S. GAAP.

Public Accounting firms in India like Pricewaterhouse Coopers, KPMG, Ernst & Young,
employ CPA’s to do U.S. GAAS audit. All U.S companies as well as Indian companies listed in U.S have to get their financial statements audited by specialists who have thorough knowledge of U.S GAAS and U.S GAAP. A CPA designation confirms knowledge of U.S GAAP and U.S GAAS.

CPA Eligibility Criteria for Indian Students:-

To be eligible for CPA foundation examination which is first level examination in CPA curriculum, the student must have any of the below qualification.

  • Members of the Institute of Chartered Accountants of India.
  • Members of the Institute of Cost and Works Accountants in India.
  • Members of the Company Secretaries in India.
  • Master of Commerce
  • MBAs

Evaluation of foreign credentials

Every state in U.S.A has different rules regarding the eligibility of candidates appearing for the examination. Foreign candidates ( including Indian candidates) have to get their academic qualifications evaluated by an independent agency, suggested by the state board, to confirm that h/she is eligible to appear for the CPA examination

Indian Chartered Accountants are eligible to take the CPA exams from the state of Colorado without any foreign credential evaluation.

Subjects tested and patter

 SUBJECTS OBJECTIVE TYPEOTHER OBJECTIVE TYPEQUESTIONS ESSAY
Business Law50 – 60%20 – 30%20%
Auditing50 – 60%20 – 30%20%
Taxation50 – 60%40 – 50%NIL
Financial Accounting50 – 60%20 – 30%20%

 

CPA examination schedule

CPA examinations are held in U.S.A and one has to travel to the U.S.A. to write the CPA examinations
November 2003, is the last pen and pencil format of the CPA examination

From April 2004, the CPA examinations have gone online. From 2004 , Business Economics was introduced as a separate subject and the entire CPA examination format has been changed.

 

Best States for CPA Exam

International students prefer Delaware, Colorado, California, Illinois, New Hampshire and Michigan. Each candidate and situation is different.  International candidate with less than 4 years of bachelors degree and without additional qualification prefer Delaware. Candidate with masters degree or bachelors plus additional accounting certification prefer Colorado. Colorado is the only state which gives CPA certificate to advance degree holder without work experience. However as told earlier, Indian Chartered Accountants are eligible to take the CPA course exams from the state of Colorado without any foreign credential evaluation.


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About the Author ()

I am Noor Punasiya, owner & founder of CAcracker, aspiring Chartered Accountant and a passionate blogger. I write about educational updates for CA, CS, CMA at CAcracker. Stay in touch with me through Facebook, Twitter or Google+.

Comments (13)

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  1. sai krishna patel says:

    thanks a lot.

  2. vidhyut says:

    very informative!!thanks

  3. Ashraf says:

    thanx a lot!!

  4. Certified Management Accountant Course says:

    CMA program recognizes the unique proficiencies required for success in this challenging profession. Certified Management Accountant Course also gives a Strong commitment to continuous improvement and high ethical standards.

  5. anshid says:

    Is a CA STUDENT eligible for CPA course.?

  6. azhager pandian cma says:

    is a cma student eligible for cpa course . I completed my cma but i don’t have a membership in institute

  7. Mriganka Sekhar Balo says:

    I have completed B. Com (Hons), M Com from India and completed MBA , in Accounting from Dhaka University. Now i want to know CPA eligibility for me.

  8. snehal patel says:

    Dear sir,
    i have completed B.COM + PGDiploma in Economics + MBA Finance from Eillim University but still waiting for degree certificate of mba.
    So could you please tell me the i m eligible for this course or not?? Request you to provide education center list in Gujarat.

  9. Dimpi Patel says:

    I have done MBA from Sikkim Manipal University.
    Will I be eligible to give the CPA exams?

  10. biranchi swain says:

    sir,i have completed cfa from icfai university ,can i do cpa

  11. rajvinder singh says:

    I m doing ca, intermediate group 2 and m.com from distance learning , can i eligible for cpa.

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