What is Certified Public Accountant (US CPA) about?
Certified Public Accountant:
CPA (Certified Public Accountant) is a designation given by AICPA to the individuals who have passed the Uniform CPA exam, met the required education and relevant experience. The CPA designation enforces high professional standards in the field of accounting.
CPA Course Eligibility:
To appear for the CPA exam, the candidate must have any of the following qualifications.
Member of the “Institute of Costs & Works Accountants in India.”
Member of the “Institute of Chartered Accountants of India.”
Member of the “Company Secretaries in India.”
MBAs.
Master of Commerce.
B.com graduates, pursuing Masters.
CPA Exam Format:
There are four sections in the CPA exam:
- Auditing and Attestation (AUD)
- Business Environment and Concepts (BEC)
- Regulation (REG)
- Financial Accounting and Reporting (FAR)
The AICPA administers the CPA exam. The total duration of the exam is 16 hours (4 hours for each section).
Multiple-choice questions vary from being one sentenced to paragraph length questions with 4 potential answers. Whereas, the Task-based simulations require the candidates to type in answers, and may include journal entries, research questions, reconciling accounts, filling out a form with multiple questions, or filling out report sections. Written communication tasks test the ability of a candidate through writing, these are essential in the business environment.
Benefits of US CPA Certification:
The benefits of CPA certification are listed below:
International Recognition: Pursuing CPA course creates many opportunities for CA, CS, ICWA, M.Com, MBA (Finance), LLB and Commerce graduates who aspire for international certification.
Career Opportunities: After passing the CPA exam, the candidate can start his career with Auditing & Accounting firms, Investment banks, Research firms, Commercial banks, Private equity firms and so on.
Attain Knowledge: The Certified Public Accountant has proper essential knowledge in US GAAP, business laws, and US federal taxation.
Flexibility & Ease: CPA exam is a single level online exam with 4 sections. The candidate can easily clear all the 4 sections in less than a year.
Career Scope for CPA:
The CPA degree paves countless opportunities to work for some of the most renowned companies around the world.
Becoming a CPA can lead to several career options:
Public Accounting: In public accounting firms, CPAs provide services encompassing accounting, auditing, tax, and consulting services for clients of any size. The auditing of financial statements of public and private companies is a highly coveted job.
Business, Government, and Not-for-Profits: In this broad field, CPAs can hold a variety of positions ranging from financial analysts and staff accountants to CFOs. They are responsible for recording, analyzing, and reporting financial information for organizations. Additionally, they perform budgeting and internal auditing functions.
Specialist: CPAs also provide services in specialized areas. CPAs assist organizations by conducting risk assessments as well as analyzing, implementing systems improvements and revisions, in managing their information technology, including the massive amounts of data collected.
Financial Advisor: CPAs also serve as financial advisors to individuals by making informed financial decisions on their behalf to help them manage their finances related to home purchases, college savings, starting a business, and retirement planning.
The CPA certification paves countless opportunities to work for some of the most renowned companies around the world.
Mentioned below are some of the best jobs in India for a CPA:
Senior Financial Analyst
Risk and Compliance Professional
Corporate Controller
Accounting Software Developer
Information technology Accountant
Personal Financial Advisor
Finance Director
Conclusion:
Hope this blog helps you to attain detailed insights into CPA, including exam format, eligibility, benefits, and career scope. Although, if you still have any queries related to CPA, please comment below & we are here to help you with the right solutions.
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