Certified Public Accountant (CPA) is a universally accepted classification and a highly regarded certification/designation in the accountancy industry all over the world. In short, just like CA (Chartered Accountant) is a designation provided by the Institute of Chartered Accountants of India (ICAI), CPA is a designation given by the American Institute of Certified Public Accountants (AICPA). Now the question arises why one must even think or choose to do CPA Course after CA, well the simple answer to that is- CAs are experts in taxation, auditing etc. while CPAs are experts in many fields along with taxation and auditing like financial forensics, strategy making etc. The quest for CPA after one completes their CA opens a whole range of worldwide opportunities and makes them eligible to work in foreign companies, MNCs and other institutions that look for the CPA certification as a must. CPA helps broaden the spectrum of a CA and makes them experts in multiple fields within accountancy; this in turn generates better career opportunities and higher wages.
Top 6 reasons why CAs must pursue CPA Course
- Acceptance and Recognition: Getting the CPA designation helps one get globally recognized and accepted. Even in India, many MNCs and companies look for CPA cleared accountants as they look for International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP or US GAAP) knowledge. Since globalization has boomed in India there has been a drastic increase in Indian companies looking for international accounting knowledge in accountants.
- Global Opportunities: Because CPAs are certified by the AICPA, they gain preference by MNCs and have the freedom to practice globally. By being internationally recognized, you get better salaries and perks and also are known as a dual-certified professional which brings a favoring addition to your profile. CPA course is globally recognized because accountants who clear this course gain knowledge of accounting practices and standards which are universally followed and practiced.
- Convenience: After one clears their CA in India, clearing the CPA is relatively easy and less time draining. Learning and understanding the CPA syllabus becomes easier under the right training and less time taking after clearing the CA. Once the CPA course is cleared, you understand and can work in different spectrums like forensic accounting, Tax, and Financial Planning, Assurance services, Internal and external auditing, etc. making you multi-faceted with additional knowledge and skills.
- Specialist Services: In some specific areas, only CPAs can give services and not CAs. Hence clearing CPA after CA makes you a specialist in many ways which paves the way for your career to sustain better. CPAs guide companies through assessments of risks, revisions in handling data and technology etc. The CPA certification gives windows of opportunities to work for big leagues and earn hefty amounts of money.
- Career Security: Having cleared the CPA, one will never have to worry about job security as clearing the CPA course gifts you with additional skills and knowledge that is always on the lookout by companies and MNCs. Just by doing CA does not assure you big pay or security, but having dual-certification in CPA does. The wide array of skill sets that CPAs learn and understand easily makes them in high demand because that knowledge and practice is globally followed. During harsh or rough economic times, CAs are the most affected and that too an average one. Having the CPA certification on your side keeps you floating even during economic crisis.
- Endless Learning Opportunity: Since the digital era has hit the accounting industry, the role of AI, significance of IT and continuous changes in tax codes makes learning a never ending loop for accountants. Because of the dynamic nature of the finance and accounting industry, the procedures, laws and regulations are in a constant shift. Since CPAs are at the top of this industry, it becomes a duty to know about the changes and shifts in the accounting sector of the world and this keeps duty keeps the CPAs up to date and boosts the knowledge and profile of an accountant.
With this we have covered the crucial and meaningful aspect of why one must clear CPA after clearing their CA.
CPA Course Exam Pattern
The CPA course exam consists of 4 tests or papers, which can be completed in 18 months or less depending on one’s pace. But for a CA completing this course becomes relatively easy. (CPA Subjects and syllabus)
Cost of CPA Course / How much CPA course costs in India?
For an Indian student, the overall price of the US CPA Course Exam procedure is sometimes divided into three parts:
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Cost Of Training:
The typical training costs for a live CPA course are closer to INR 105000–115000. The advantage of this is that the recorded videos may be viewed an unlimited number of times, and there are 6500 MCQs and 3000 SIMs that can be used to assist candidates pass the 50% objective CPA test.
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Evaluation Fees:
The evaluation fee, which is payable to the assessment agency to determine eligibility to take the CPA examination, is approximately 22000–23000 INR.
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Exam Fees:
Approximately 185000 INR totals the exam fee plus the cost of the foreign examination.
Hence, the typical price in India for the full US CPA programme is between 3.5 and 3.6 lakhs INR.
CPA Course Eligibility Criteria :
US CPA needs 5 years of education from a recognized institute. They call it the CPA Credit score. Many institutes assist students in evaluating their performance. You will be advised to apply in a specific state based on your score. (US state)
CPA Course Duration
In order to complete the curriculum, a student must pass 4 papers in 18 months. Candidates will qualify for the CPA Certification if they receive a score of 75 percent or above. Candidates and applicants have to complete their course within a span of 18 months.
Job Opportunities For CPA Qualifiers / CPA career opportunities
CPA Course truly opens up the world of opportunities. CPAs work on strategically important units in organization.
Following completion of the CPA Course, candidates may apply for a variety of job roles, including:
- Budget analyst
- Tax examiner
- Business systems analyst
- Financial Advisor
- Forensic CPAs
- Public Accounting
These are few top jobs one can acquire in foreign companies, MNCs upon the completion of their CPA Course. They are highly lucrative with decent payment scales.
How to become a CPA?
A step by step CPA journey starts by understanding eligibility criteria, credit score requirement and evaluation. Please click this link to know more in detail.
Role of the CPA coaching institute
If you are an Indian student looking to work in the field of accounting and finance in the United States of America, CPA is the best way to do so.
Here a coaching institute comes in the picture. An Authentic coaching institute can help students in document evaluation for score and applying to appropriate US state.
We recommend to take help of institute in completing these mandatory formalities.
Also Read: How to choose the right ACCA coaching institute?
AKs Training Academy for US CPA Course
AKs Training Academy guarantee’s you 100% support in APPLICATION-EVALUATION process of CPA which makes students life easy and they can fully concentrate on studies. AKs offer online, offline session with authentic CPA study material and support. (please click here to know more). Today CPA is top notch choice among many commerce career options. If you are CPA aspirant, then contact us for more details.
Also Read: What are the ACCA job opportunities and salaries across the world?