The best course for getting good employment in India in the financial sector is CA (Chartered Accountancy). But, when it comes to international markets, the most widely accepted financial course is CPA (Certified Public Accountants), USA.
Similar to the CA course, the CPA course aims to develop accounting and financial skills among the candidates by combining theoretical and practical learning. Now, who doesn’t want to get into great organizations like the Big 4, Moody’s, J.P. Morgan, etc? The CPA degree can be your gateway into these gems.
If you are a commerce student in India and want to get high-paying jobs in developed nations, you are in the right place. Look no further! This blog is a comprehensive guide to the CPA course.
Career Scope after the CPA Course
Before understanding the CPA course in detail, it is important to learn about the role and scope of a CPA. Organizations worldwide trust qualified CPAs with various key roles in the domains of accounting, finance, and business. Their expertise and skills contribute to the smooth functioning and growth of organizations. Here are the key roles you can attain as a CPA:
- Financial Reporting and Analysis
- Audit and Assurance
- Taxation and Compliance
- Advisory Services
- Forensic Accounting
- Consultancy
- International Financial Expertise
- Leadership and Management
- Ethical Standards
In essence, a CPA is a trusted financial professional who brings valuable insights and provides a wide spectrum of financial services, helping organizations navigate through dynamic market and business landscapes.
As per Payscale the average annual salary of a qualified CPA in India is Rs. 6.9 Lakhs and it can go up to Rs. 8.67 Lakhs as per Glassdoor. When it comes to the US Market, the CPA course can help you earn an average annual salary of US$ 74,596 (Rs. 62 Lakhs) as per Payscale.
What is the CPA Course?
The Certified Public Accountant Course (CPA) is a comprehensive and prestigious professional program tailored by the AICPA (American Institute of Certified Public Accountants. The course equips candidates with a diverse skill set and in-depth knowledge in the fields of accounting, finance, and taxation. Let’s look at all the course aspects in detail.
1. Are you eligible for the CPA Course?
For a fresh candidate, the CPA course eligibility might sound a bit tricky. But it is quite simple. Every year of college education in India is considered 30 credit hours for CPA. Now check this:
- For Writing the CPA Exam – 120 credits
- For getting the CPA License – 150 Credits
- Graduation from a NAAC “A” category or above University with 1st Division – 120 Credits
- Professional and Master’s Courses are considered equal to 2 years of college
Let’s analyze the scenarios:
| Course | Credits | Total Credit Hours |
Scenario 1
|
3 x 30 = 902 x 30 = 60 | 150 |
Scenario 2
|
4 x 30 = 120
1 x 30 = 30 |
150 |
Scenario 3
|
3 x 30 = 902 x 30 = 60 | 150 |
Of course as an international student, you are required to hold a valid passport. For the list of NAAC “A” category or above universities, check this link. Remember one thing, you need to complete 150 credit hours to get the CPA license as a foreign candidate. For further information on CPA course eligibility in India, read this article.
2. What is the CPA Syllabus & Marking Scheme?
The CPA Syllabus is a well-structured curriculum designed to equip aspiring accountants with a diverse skill set. The syllabus is divided into four sections, each focusing on specific aspects of the field. Here are the CPA course subjects and their weightage:
| Subjects | Weightage | ||
| MCQs | Task-Based Simulators | Written Communication Tasks | |
Auditing and Attestation (AUD):
|
50% | 50% | – |
Business Environment and Concepts (BEC):
|
50% | 35% | 15% |
Financial Accounting and Reporting (FAR):
|
50% | 50% | – |
Regulation (REG):
|
50% | 50% | – |
3. What are the CPA Course Fees?
Although the CFA course fees are different depending on which state you register in, here are the broader charges you need to pay.
| Type of Cost | USD | INR @ 83 |
| Application/Evaluation Cost | 50 – 300 | 4,150 – 24,900 |
| Examination Fees for Foreign Nationals $390 per subject ($390 x 4) | 1,560 | 1,29,480 |
| CPA Ethics Exam Fees | 150 – 200 | 12,450 – 16,600 |
| CPA State Licensing Fees | 100 – 500 | 8,300 – 41,500 |
| CPE (Continuous Learning Fees Per Year) | 800 – 5,000 | 66,400 – 4,15,000 |
| Total Cost (May Vary from State-to-State) | 2,660 – 7,560 | 3,62,710 – 6,27,480 |
To learn about the Statewise charges and procedure of the CPA course, visit the NASBA website.
4. What is the CPA Course Duration?
Much to the relief of the students, the CPA adopts a flexible policy instead of providing a fixed time frame. The CPA course duration can vary depending on your ability and preparation. You can choose to prepare longer just in case you are not sure.
But the AICPA requires you to attempt all four exams within 18 months. This means once you write the first exam, you have to clear the other 3 within the next 18 months. As the CPA exams happen all around the calendar year, you can attempt the papers whenever you feel prepared.
*Source: This is the CPA course duration in New York as per the NASBA website.
5. Why Choose the CPA Course over CA?
You all are well aware of the reputation of the CA degree in India. While it is one of the toughest exams on the planet and extremely popular, why should you choose the CPA course instead? Here’s a logical breakdown:
| Parameters | CPA, US | CA, India |
| International Recognition | Recognized and reputed all over the world | Recognized mostly in the Indian Sub-continent only |
| Exam Structure | 4 sections – 1 exam each for 4.5 hours | Consists of 3 levels and multiple exams at each stage |
| Course Duration | Usually takes between 1-2 years for a candidate to clear the exams | Requires minimum 4.5-5 years of rigorous efforts and articleship |
| Eligibility Criteria | You can start only after completing graduation | Usually students enroll after the 12th grade and many of them drop out midway |
| Exam Difficulty | It is relatively easier and has a higher passing rate 40-50% | It is relatively tougher and has a very low passing rate 10-20% |
| Global Outlook | Emphasises highly on International Accounting Standards and practices | Mostly focused on India-specific regulations and Accounting Principles |
| Employability | Earn high salaries across the Globe with high-end financial responsibilities | CAs mostly earn average salaries in India. Although, with more experience and continuous learning, they can also earn more |
There may be different opinions on which one is better. But, your choice between CA and CPA courses depends on your career aspirations, geographical mobility, and interest in local vs. global financial scenarios.
6. How CPA Course adds Weightage to Your Resume?
Given all the literature we discussed on the CPA course, what exactly is the value added by it to your Resume?
- Broaden Your Reach
The CPA Course covers a broad spectrum of subjects, including accounting principles, auditing practices, taxation regulations, financial reporting standards, business laws, and more.
- Expertise in Various Disciplines
The CPA subjects test the candidate in diverse disciplines. These include
- Auditing and Attestation (AUD)
- Business Environment and Concepts (BEC)
- Financial Accounting and Reporting (FAR)
- Regulation (REG).
- Makes You Employable
To embark on the CPA Course, candidates are generally required to have a bachelor’s degree in accounting, finance, or a related field. Hence, you get a continuous learning boost for your career.
- Ethically Proficient
Ethics are a cornerstone of the CPA profession. Candidates are required to demonstrate their ethical understanding and adherence to professional standards through an ethics examination.
- Can be pursued with Your Job
Unlike some other professional courses, the CPA Course allows candidates the flexibility to design their study plan. This approach enables individuals to earn to support their expenses while preparing for the challenging CPA Exam.
- Go Global
With the CPA degree, you are accepted as a globally recognized accounting and finance professional. This makes you a valuable asset for both local and multinational corporations.
- Diverse Career Opportunities
Once you get the CPA license, you can excel in roles such as auditor, tax consultant, financial analyst, management accountant, or even hold leadership positions.
- Adapting to Changing Financial Landscapes
The dynamic nature of the financial world requires professionals to stay updated with evolving regulations and practices. The CPA course not only equips you with current knowledge but also nurtures a mindset that can adapt to changing financial environments.
How to Pursue CPA Course in India?
As an International student, the CPA course can become extremely easy if you follow a step-by-step process for your preparation. Here is your guide to embarking on your global career journey.
Step – 1: Understand the Basics
Research thoroughly and understand the CPA syllabus, duration, fees, structure, and global recognition. Differentiate between the American CPA and the Indian CA courses to ensure you’re aligning your career goals appropriately.
Step – 2: Educational Eligibility
Verify if you qualify for the 120 & 150 credit hours for pursuing the CPA course. If not, plan the additional degree course to complete the prerequisites alongside.
Step – 3: Select a State for CPA Exam
Opt for a U.S. state to register for the CPA Exam. Every state has different requirements, so choose the one that suits your situation the best.
Step – 4: Enroll with an Approved Provider
Identify a reputable CPA review course provider. Many international organizations offer CPA study materials tailored for Indian candidates.
Step – 5: Prepare for the CPA Exam
Create a study plan that accommodates your existing commitments and learning preferences. Cover the sections of the CPA Exam in such a way that you can attempt all four papers within 18 months.
Step – 6: CPA Exam Application
Apply for the CPA Exam through the selected state board. Ensure you meet the application deadlines and provide the required documentation.
Step – 7: Exam Preparation
Engage in thorough preparation using the study materials and resources provided by the review course. Take practice exams to familiarize yourself with the exam format and refine your time management skills.
Step – 8: Appear for the CPA Exam
Schedule and appear for the CPA Exam sections as per your study plan. Remember that each section is graded independently, and you need to pass all sections within 18 months.
Step – 9: Ethics Exam
Complete the ethics exam required by some states to demonstrate your understanding of ethical and professional standards.
Step – 10: Apply for State Licensure
After passing the CPA Exam and fulfilling the experience requirements, apply for a CPA license from the chosen state board.
Step – 11: Complete the Annual CPE
Keep up with Continuing Professional Education (CPE) requirements to maintain your CPA license. Stay updated with the evolving financial regulations and practices.
To Sum it Up
Following the above steps, you can successfully pursue the CPA course in India, and grow your career by capitalizing on its global recognition. Once you get the license, you can apply for high-paying jobs around the globe or in India. As your experience rises and you keep learning continuously, even the sky is not the limit for your growth.
The WallStreet School CPA Course
CPA course is one of the most prestigious degrees in the accounting and financial landscape around the globe. But, there are a couple of challenges. As the course is thorough and each state in the US has different requirements, it can be challenging for International students to navigate through the entire course without proper guidance.
Prepare the CPA syllabus with The WallStreet School and get comprehensive guidance at every stage from enrollment to preparation and giving the exams. Apart from CPA, you can also prepare for other key financial degrees like ACCA, CFA, FRM, CMA, CIMA, etc.
So, what are you waiting for? Enroll Now!
