CPA Course Details
Who is a CPA?
"Every CPA is an accountant, but not every accountant is a CPA." A Certified Public Accountant (CPA) holds a recognized financial advisor certification in various English-speaking countries. CPAs have diverse career opportunities, with Public Accounting and Industry Accounting being the most prominent ones. These roles involve assisting organizations in achieving their financial objectives through various responsibilities such as Auditing and Review, Financial Planning, Business Valuation, Tax Preparation, Company Management, Litigation Services, and Forensic Accounting. For individuals with a passion for Accounting and Finance, pursuing a CPA course, which includes education, a CPA exam, and practical experience, can be a rewarding option.
Eligibility Criteria for CPA Course
The eligibility criteria for appearing in the CPA examination varies from country to country. Indian students aspiring to pursue a CPA course must fulfil all the requirements mentioned by the national CPA organization. Given below are the minimum eligibility parameters for the candidates.
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The candidates must have completed graduation in a relevant field of Accounting and Finance, such as a BCom in Accounting, BBA in Finance and Accounts, BBA Accounting, MCom or an MBA in Accounting, or MBA in Finance.
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The Candidate must be a member of the Institute of Chartered Accountants of India (ICAI) or Institute of Cost Accountants of India (ICMAI) or the Institute of Company Secretaries of India (ICSI).
What is CPA Course?
The CPA course culminates with the candidate taking the CPA exam which is considered to be one of the toughest exams in the world. With examination being the required component and a key step in an aspiring CPA’s journey to professional practice, here are the essential points that you must consider before going for the CPA exam:
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The CPA exam is a computer-based test and is held 4 times in a year (in March, June, September and December). However, registration for the CPA course is open throughout the year.
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To become a licensed CPA, you need to first pass the Uniform CPA Examination which comprises 4 sections, each of 4-hours.
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The sections are namely, Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), Business Environment and Concepts (BEC) and Regulation (REG).
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The candidates have to clear all 4 sections within 18 months and earn a minimum required score of 75 on each part.
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The test will contain elements like Mulitple Choice Questions (MCQ), Task-Based Simulations (TBS) and Written Communication Tasks.
CPA Course Highlights
CPA Course Specialisations
There are many specializations offered in CPA courses, here are some of the popular specializations you can opt for:
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Finance
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Sales & Marketing
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Human Resources
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Auditing & Control
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International Business
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Financial Planning & Analysis
CPA Course: Syllabus for the CPA Exam
Fee Structure & Pass Rate for CPA Course
There is a different fee structure according to the qualification of the candidate planning to enroll for the CPA course. We have a table for you to understand the fee structure of the CPA course as per qualification:
CPA Exam Application Process
Here is a step-wise application process to apply for the CPA exam:
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Before submitting the application form it is important to check the eligibility. If you’re eligible you can send your official transcripts to the state board
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Submit the exam fees in order to gain test authorization and NTS
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You will then be able to schedule your CPA Exam
CPA Exam Structure
Candidates who are eligible for the CPA test in India should be familiar with its format. The CPA exam is a computer-based test that is given to candidates at specific locations around the world. The CPA exam is divided into three tests: MCQ, task-based, and written communication.
CPA Exam Fee
Difference Between CA & CPA Course
A Chartered Accountant is a qualified professional who handles a wide range of responsibilities within the accountancy spectrum. CA are always in demand due to their technical competence, veracity, and professional standards. Every company requires individuals who possess an incredible knowledge of financial laws and regulations and can handle monetary issues without worrying about the legal ramifications that might jeopardize the business. A CA course is a professional degree that is offered by certified Chartered Accountancy bodies throughout the world and aims to equip students with complete knowledge of Financial Management and Auditing, Fiscal Laws, Regulations, Strategic Financial Management, and Ethics, amongst others
CPAs are certified and designated financial advisers in various countries across the English-speaking world. The most prominent careers a CPA can pursue include Public Accounting and Industry Accounting. Both are responsible for helping an organization reach its financial goals.
Career Prospects & Scope after CPA Course
If you are planning to take your knack and passion for accounting to the next level, pursuing a CPA course is the best option you can ever opt for. Having knowledge almost similar to that of a Chartered Accountant (CA), a CPA will also have additional knowledge of IFRS (International Financial Reporting Standards), GAAP (Generally Accepted Accounting Principles), GAAS (Generally Accepted Accounting Standards), etc.
Apart from Financial planning, advising, and auditing, below are some of the most sought-after career fields for CPA-certified professionals.
International Accounting
Upon completion of the CPA course and examination, the accounting professional will be looking after various international business transactions, foreign trade agreements, and global economic and financial issues.
Forensic Accounting
In various economic and monetary criminal cases like bribery, money laundering, and fraud, the CPAs collaborate with the organizations and use their expert knowledge in Accounting and present themselves as an expert in the court of law.
Information Technology
With Information Technology taking up every single aspect of this world, certified accounting professionals can work as Information Systems Auditor and Software Revenue Managers, in not just the private or corporate sector, but the government sector as well.
Tax Accounting
Owing to a great demand for taxation specialists in both the public and private sectors of the economy, a CPA course is the best way to acquire high-quality knowledge in this field of taxation. The CPA professionals can work as Tax specialists, International Tax Managers or Sales Tax specialists in various organizations belonging to different sectors of the economy.
Academia
For the ones who have a passion for sharing their knowledge with others, Academia after clearing the CPA course is the best career option for them. The CPA can work as a full-time or part-time faculty member in various educational institutes teaching commercial subjects like Accounting and Finance, Taxation, Business Ethics, Business Application, Audit, etc.
CPA Salary
An entry-level CPA with less than 1-year experience can earn somewhere around ₹6- 8 lakhs. Whereas with 1-4 years of experience earns ₹ 8-12lakhs. With 5-9 years of experience, you can earn ₹1,001,009.