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CA Qualification Equivalence to Post-Graduation will add Value to CPA ?

Good News for all Chartered Accountants & Congrats ICAI.

If you are a CA, you can get 60-90 credits.

Yes, you heard correctly.

·        Chartered Accountants can get 60 to 90 credits for CPA. From now onwards, the CA qualification is treated as Post Graduation.

·        Students who have done CA foundation will be given additional credits.

·        If you are a CPT, no credits will be added to you.

The Uniform CPA Exam follows a certain credit system. A candidate must have 120 credits (in some other states, the requirement can be 150 credits) from a NAAC recognized college. Also, the candidate must have certain designated hours in accounting-related subjects.

Each academic year will provide you with 30 credits. After completing your bachelor’s degree you can have 30*3=90 credits. And you have to enroll for a master’s degree (From now onwards, The CA qualification is equivalent to a PG degree and adds 60 to 90 credits to you.) 

CPA Exam Scoring:

·        The candidate’s score for each section of the US CPA exam is reported on a scale in the range of 0 to 99. 

·        Also, the candidate has to score a minimum of 75 to pass a CPA section.

·        Your total score on the AUD, FAR and REG sections are weighted based on your answers for Multiple-Choice Questions (MCQs) and Task-Based Simulations.

·        For CPA BEC sections, the scores are weighted based on MCQs, TBS, and Written communication tasks.

CPA License Requirements:

·        Pass all 4 CPA exams in the time frame of 10-12 months.

·        Education – Need to have 150 credits [ Simandhar Education has a bridge course to help you in getting desired credit

·        Experience – 1 year [need not be under a CPA supervisor; Simandhar Education’s Lead Instructor Mr. Sripal Jain, (CPA and Licensed US CPA holder) can verify for the candidate.

·        Ethics – It’s an open book and online on-demand exam.

We have more than 50% of students opting for the CA course; the overall news is not having much impact on CPA qualification.

Simandhar Education:

Simandhar Education is the official partner of Becker professional education and channel partner of AICPA.

US CPA Exam in India Now Permanent | US CPA Evolution – 2024

JULY 12, 2021

To get the suggestions for US CPA 2024 exam changes a feedback survey was released by AICPA on the preliminary content proposed for the redesigned CPA Exam, which will be assessed in three sections that will comprise a material that would assess candidates’ knowledge in one of three Disciplines they choose under the new CPA Evolution licensure model, plus the Core of the Exam.

Three sections that comprise the Core of the Exam will test skills and knowledge in accounting, auditing, and tax, with a recognition of the impact technology, has on these areas. The Core Exam section focuses on the skills and knowledge required of all newly licensed CPAs. Each candidate will be required to choose one of the following three Disciplines:

·        Information Systems and Controls (ISC).

·        Tax Compliance & Planning (TCP).

·        Business Analysis & Reporting (BAR).

The Core-plus-Disciplines licensure model was developed by the National Association of State Boards of Accountancy (NASBA) and American Institute of Certified Professional Accountants (AICPA) to reflect changes in the technology and profession, focusing newly licensed CPAs on the most relevant and useful knowledge and skills. The expected debut of the new Exam is in 2024.

For more details on the US CPA 2024 evolution please watch the video below

The model is designed to ensure that newly licensed CPAs will possess broad-based knowledge. The new model will establish a foundation for the most relevant and important topics that all newly licensed CPAs need to know to protect the public interest.

Exponential growth in new concepts, rules, and standards, along with changes in the roles and responsibilities of newly licensed CPAs, have caused the body of knowledge required of new CPAs to grow. 

“The Core-and-Discipline model allows candidates to focus on areas that are of either special interest to them or their employer,” said Mike Decker, the AICPA’s vice president–Examinations & Pipeline. “It also gives us flexibility for the future as the profession evolves. We’ll always have a Core, and the Disciplines could potentially shift, in the future, as the profession shifts. Therefore, the new model could provide greater flexibility.”

The draft content emerged during the first phase of the practice analysis in which the AICPA, NASBA, and various volunteer committees examined the content currently tested on the Exam. They carefully considered what should be tested in the future in the Core and the Disciplines.

The Core needs to be restructured because there will be three sections in the Core, and the Exam currently has four sections.

The team took the existing material and refocused it on knowledge determined to be essential to the Core. The material in the Business Environment and Concepts (BEC) section was reallocated, with some of it staying in the Core and the rest moved to either the BAR or the ISC discipline.

The Core would test understanding of business processes, including technology, and internal controls that CPAs would need to rely on in an audit engagement. The ISC section would go further, assessing skills and knowledge required to advise a client on test technology or business processes rather than just relying on it. 

Knowledge and skills for CPAs who would perform a SOC engagement would be tested in the ISC Discipline.

For assisting the academic community, the NASBA and AICPA June launched the blueprint for an accounting program that is designed to help educators prepare graduates.

The curriculum describes the subject matter that colleges and universities can offer to align their accounting programs with the CPA Evolution licensure model. Of course, the higher education programs offer vastly more learning than is covered on the CPA Exam, but the curriculum is designed to facilitate exposing students who are interested in pursuing their CPA license to the appropriate knowledge and skills.

July 2022 is the target date to release a draft blueprint for exposure and comments. A final blueprint is scheduled to be published at the beginning of 2023, with the Exam launch date targeted for January 2024.

The result will be a remodeled Exam that will assess the required core knowledge of newly licensed CPAs as well as content in their own, more focused area of interest, all aligned with the objective of protecting the public interest.

Harder? But Easier – US CPA Exam. DECEMBER 22, 2021

Accounting is all in making key lending and investing choices, mergers and acquisitions, hiring, and payroll changes. All rely on having reliable financial information that accurately portrays the company’s financial status. Businesses must trust the information on which they base their choices, and the best way to develop that confidence is to guarantee that the individuals supplying it are trustworthy. So here comes the role of US CPAs, who have the unique mix of talents and abilities necessary to perform at the top level of the accounting profession. Passing the US CPA Exam is essential to becoming a Certified Public Accountant (CPA). However, why is the US CPA Exam regarded as one of the most challenging professional exams? Here are the reasons. What is it about the CPA Exam that makes it so difficult? The CPA Exam is so difficult because: It covers a wide range of topics for students of varying ability levels. It assesses those areas using a variety of question formats, including those that mirror real-world tasks that CPAs are required to accomplish. You only have ten months from the date you pass your first section to complete all four areas, and each part is assigned with a particular time limit. What is the most challenging part of the CPA Exam? Your accounting background will determine which topic on the CPA Exam is the most difficult for you. While many candidates regard the FAR portion to be the most difficult, you may consider AUD to be more challenging if you’ve never done an audit or REG with its emphasis on tax law to be the most demanding. Finally, the sheer scope of the test as a whole makes the CPA Exam challenging. The CPA Exam comprises 18 topic categories separated into four portions. Each activity reflects a critical knowledge or skill required by CPAs, and these activities are graded based on their difficulty or skill level. The CPA Exam Blueprint, which comprises typical tasks that the AICPA believes are required for newly licensed CPAs to understand, is an explanation of the topics that may occur on the CPA Exam. The CPA Exam integrates these tasks into its questions. The AICPA has given one of the four ability levels to each function. Remembering and understanding need the least amount of talent, whereas Evaluation necessitates the most. To advance to the Analysis and Evaluation stages, you must answer the following “so what” questions: Explain why something is or is not significant. Higher skill levels are addressed by CPA Exam questions that challenge you to reconcile, conclude, or analyze scenarios. Skill-1 Testing for MCQs. Remembering and Understanding This section is dependent on memorizing and understanding the remembered principles. Skill-2 Addition of TBS and WC with MCQs. The section is based on testing various abilities with Task-Based Simulations and Written Communications, and Multiple-Choice Questions. Skill-3 Tested for TBS. The is skill is tested on principles in situation-based concepts. Skill-4 Tested for TBS based on Auditing. This assessment assesses the ability to evaluate information using various ideas to conclude. How time makes the CPA Exam difficult The CPA Test includes two-time constraints, both of which impact the complexity of the exam. The first-time constraint you will confront is the four-hour duration of each section’s test. After passing the first part, you’ll have to contend with the second time limit: the 18-month term during which your passing score is valid. Each test segment contains a varied number of Multiple-Choice Questions and Task-Based Simulations, so you’ll need a winning time management approach to pass each subject on your first try! Your objective is to answer each of these questions to the best of your ability. However, because you have a time constraint, you must prioritize answering every question above studying each question separately. To make matters worse, once you’ve completed a testlet, you won’t be allowed to return to it during the CPA Exam. It is critical to arrange your time for each test since any additional time after the exam is squandered. Because the time limit for the CPA Exam is not divided between exams for you, you must schedule your exam time ahead of time. Simandhar Education’s Time Management System design establishes time targets for each testlet of the CPA Exam. You can guarantee adequate time for each question in each test by following our time allocation instructions. The second deadline is to complete all four portions within ten months. When you pass the first portion of the CPA Exam, a new timer begins to count down. You have 18 months to complete the other three sections of the CPA Exam; if you do not meet all of them, you will lose credit for the first portion. This adds to the stress of the exam procedure at every point. Managing stress, setting a study strategy, and changing your plans for setbacks are all part of passing the CPA Exam. Accountants must be adept at time management and project management. The AICPA examines your ability to manage time while maintaining accuracy and attention by incorporating numerous time constraints on the CPA Exam. The 9-month time period for the CPA Exam necessitates careful planning. You will have the resources you need to arrange your exam schedule with Simandhar Education Study Planner and Personal Counselors. A reasonable timetable will be adaptable enough to accommodate emergencies and unexpected obstacles while being firm enough to set goals.

What is the scope for US CPA in India?  

Willing to build a successful career in the field of accounting? A US CPA course might be the right choice. A Certified Public Accountant or CPA, recognized as one of the most demanding finance and accounting professionals, administered by the American Institute of Certified Public Accounts or AICPA.  

The most important reason people choose to become CPA is that they find better opportunities quickly. CPA in India believes to be a strong credential that will bring stability in the career.   

 The US CPA training gives an in-depth knowledge of US GAAP, US Tax, and US Audit areas. There has also been extensive growth in the demand for CPAN in MNCs and Big4s in India.   

CPA Eligibility in India:  

To pursue a US CPA exam, it is essential to become a member of India’s Chartered Accountants. In addition, candidates should also become members of the Company Secretaries in India, members of the Institute of Cost and Works Accountants in India.   

Scope for CPA in India: 

The US CPA designation has global recognition, and the scope for US CPA is not limited to India or the US, but also around the world. So, a Certified Public Accountant is being hired by different divisions of US-based multinational companies (MNCs) in India.   

BIG4s are the four leading professional accounting organizations that provide accounting, taxation, auditing, assurance, etc., to deal with clients worldwide. These organizations include KPMG, Deloitte, PriceWaterhouseCoopers (PwC), and Ernst and Young (EY). These BIG4s provide services that are much in demand, and so they gain such popularity in hiring the CPAs in India.  

One of the other reasons these BIG4s (accounting companies) are hiring CPAs is that they can provide many such services without any hassles. Additionally, they are known to be well versed in US GAAP and IFRS reporting.  

 CPAs in India are also capable of handling international financial accounting and corporate governance efficiently. Therefore, different profiles in the financial services firm hire CPAs. Thus, the scope of CPA in India is higher, and companies recruit Certified Public Accountants extensively.  

 As explained by Simandhar Education, becoming a CPA can have an abundance of career options that include:  

1. Financial Accounting  

CPAs can be a significant part of the financial accounting for preparing and reviewing balance sheet accounts, for example, inspecting where the company is utilizing the funds and where they are overspending.  

2. Corporate Finance  

CPAs can be an integral part of the Initial Public Offering (IPO) or Further Public Offering (FPO) as they understand the accounting consequences and acquisition aspects. In addition, since they know the accounting facet, CPAs can counsel the management about the strategic moves for the company.  

3. Assurance and Attest services  

Attestation is an assurance service that CPA organizations generally offer. For example, it can be of the audit of internal control of the organization and financial statement review. And assurance services are those that involve high levels of independence, integrity, and objectivity.  

4. Information Technology  

Information technology (IT) accounting integrates traditional accounting principles with information systems to save an organization’s financial data. CPAs are required for this audit as they have accounting knowledge, and one could even have specialization in IT audit.   

5. Internal Auditing  

Internal auditing is a consulting activity and objective assurance which adds value and improves a company’s financial operations. Internal auditors follow the best practices to control and manage risks effectively.   

6. 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, starting a business, and retirement planning.  

7. Management reporting  

Management of a company generally recruits CPAs who understand the business and can draw conclusions and caution the administration about specific changes or uprisings.  

8. Tax preparation and planning  

Generally, various firms conduct budgeting for taxable income and forecast the revenue to predict how much tax a company would have to pay finally. CPAs can process this efficiently and advise the corporation on their tax aspect.  

9. Finance director  

Also known as directors of finance, finance directors oversee all the financial activities, reporting on revenue, training accounting staff, budgeting, disbursing funds to departments, managing risk, implementing policies, and improving financial processes.  

Thus, CPA can bring a well-respected career in India along with a high-paying salary.  

If you are a CPA aspirant, seek support from Simandhar Education for live interactive sessions and comprehensive study material from Becker to make the best preparation for the CPA exam in India.   

Simandhar Education is the official partner of Becker and channel partner of AICPA – The leading training institute for US CPA, US CMA, EA, and IFRS courses in India.   

Learn how to clear your CPA exams with satisfying results by getting timely support and knowledge through live sessions and video tutorials taught by leading instructors.  

Holding a CPA license opens the doors to most of the MNCs and Big 4s. We are here to provide you with all the help that you need to pass your CPA exam on the very first attempt and get a CPA license.  

What are the steps to be a US CPA from India?

SEPTEMBER 23, 2021

 Chartered Accountancy (CA) is India’s highest accounting degree, and one of the most demanding professions is not recognizable in all countries. Thus, the US CPA course is the right choice for people who wish to pursue a profession in the accounting field worldwide.  

The Certified Public Accountant (CPA), administered by the American Institute of Certified Public Accountants (AICPA), is a high profession in accountancy across the globe. It is pretty similar to the CA qualification in India.  

A CPA is a financial advisor who assists individuals, businesses, and other organizations in achieving their financial goals. They can also take up any different position related to accounts and finance in a company.   

Due to global recognition, CPA designation remains one of the most valuable degrees in the public accounting domain. It is perfect for those who want to build a career in accounting at an international level.  

But what are the steps to achieve US CPA from India? Simandhar Education, in this article, discusses the procedure 

Here is the step-by-step procedure about how Indian students can become US CPAs  

1.    Eligibility criteria  

2.    Transcript  

3.    Note to schedule (NTS)  

4.    CPA Exam  

5.    CPA license  

CPA Eligibility in India:    

The AICPA, which is the world’s largest accounting organization, administers the CPA Exams. Candidates who pass all four CPA examinations are eligible for membership in the AICPA. The 55-state board of accountancy in the United States that are members of NASBA, on the other hand, award a CPA license. Each state board has its own set of qualifying requirements that an aspirant must receive a CPA designation.  

 The following are some general guidelines to follow:  

·         A master’s degree in commerce, accounting, or finance is required.  

·        To take the US CPA tests, an aspirant requires 120 credits.  

·        To acquire his US CPA license, they need 150 credits.  

·        One year of university education in India is equivalent to 30 credits in the United States.  

·        In rare situations, first-year graduates of NAAC-A certified Indian universities can also take the US CPA exams.  

Transcripts   

·        Submitting the documents  

 You’ll need to send your original or official transcripts to most overseas credential evaluation authorities. The state board, in most situations, sets the demand for original or official transcripts.  

It may be impossible to transmit more copies of your transcript, which is why customer service-oriented evaluators are so vital. Instead of insisting on acquiring formally necessary, a skilled evaluator will find a method to work around the problem.  

·        Translation of document  

A word-for-word translation of your transcript is necessary if issued in a language other than English.   

You can see if the evaluation firm has a translation service on staff. It’s a good idea to ask your evaluation company if they have a recommended translation service.  

·         Sending additional information to expedite the process   

If you want a quick evaluation, send in your course outline or syllabus so that the agency has all the information it needs about the substance of your qualifications.  

·        Progress Monitoring  

Some evaluation firms offer online tracking systems, while others send out email notifications. Unfortunately, some agencies don’t allow for updates, so you’ll have to phone them to find out. If keeping track of the development is crucial to you, take this into mind.  

Notice To Schedule  

A Notice to Schedule (NTS) is the authorization sent out by the NASBA (National Association of State Boards of Accountancy) for an applicant to make an appointment with the testing provider once the candidate pays the examination fee.  

Once the CPA Exam application process starts and a candidate is determined eligible to take one or more sections of the CPA Exam, the NASBA will issue a Notice to Schedule (NTS).    

The (Notice to schedule) NTS will list the section(s) of the Exam the candidate is approved to take, which will allow the candidate to contact the Prometric to begin the scheduling process. All the scheduling instructions will include in the NTS.  

 Usually, it takes 3-6 weeks to receive, although certain states allow you to apply online and obtain it the same day.  

Each state has an NTS “validation period,” which means you have a certain amount of time to complete all of the exams you paid for previously.  

CPA Exam  

CPA (Certified Public Accountant) is a credential provided by the American Institute of Certified Public Accountants (AICPA) to those who have completed the Uniform CPA exam and have the relevant experience. In the subject of accounting, the CPA designation establishes high professional requirements.  

·        CPA Course Duration and Exam  

Within 18 months, candidates must pass these four subjects   

·        Financial Accounting and Reporting (FAR),   

·        Auditing and Attestation (AUD),   

·        Business Environment and Concepts (BEC), and  

·        Regulation (REG)  

CPA License:  

As Chartered Accountants (CAs) are licensed to practice Accountancy and Taxation in India, Certified Public Accountants (CPAs) are licensed to practice in the United States.  

The criteria for the CPA test differ state by state. Each state’s board of accountancy has its own set of standards. However, most states have a common set of requirements for candidates to sit for the CPA exam. The qualifications for obtaining a CPA license are listed below-  

·        Many states, in general, need 150 credit hours in specific courses from a university or a NASBA-accredited college.  

·        The candidate should pass the ethics exam.  

·        Work experience in taxation, auditing, accounting, and management consulting must total 2,000 hours.  

·        The minimum age is of 18 years.  

Conclusion:  

 We hope this article helps in getting all the information regarding becoming a US CPA from India.  

In the coming years, CPA courses are becoming more and more prominent. With the high rise in demands, Indian states are making more provisions for the benefits of CPA aspirants.   

With this view, Simandhar Education makes sure to give all the necessary tools so that candidates can focus totally on CPA exam preparation.   

Get yourself enrolled in Simandhar Education and avail for exam preparation, enrollment, results, and even CPA License.  

Which is the best institute for US CPA in India?

 The American Institute of Certified Public Accountants, the world’s largest accounting group, administers the US CPA. The AICPA awards CPA certification to those who have passed the standardized CPA exam and earned the required experience. The CPA certification upholds the highest possible professional standards in the field of accounting.  

AICPA membership is open to anyone who passes all four CPA tests. On the other hand, a CPA license is issued by the National Association of State Boards of Accountancy’s 55 state boards of accountancy in the United States (NASBA).   

To sit for the CPA exam in the United States, candidates must meet several requirements:  

·         Bachelor’s degree in business accounting, administration, or finance.  

·         Must have 120 credits to register for the US CPA tests and 150 credits to acquire your CPA license.  

·         A year of university education in India is equivalent to 30 credits in the United States.  

·         Graduates of Indian universities with a three-year NAAC-A certified degree may sit for the US CPA exam.  

The Benefits that come with US CPA:  

A CPA USA course is the highest level of achievement, giving several opportunities to demonstrate your abilities in the accounting field.   

The benefits of enrolling in a CPA course are listed below.  

·         Accounting and auditing firms, research firms, investment banks, commercial banks, mutual funds, acquisition firms, and other firms hire CPAs.  

·         It is a single-level online test with only four papers that takes less than a year to complete.  

·         In addition to the CA designation, CPAs would be knowledgeable with US GAAP, federal taxes, and corporate requirements in the United States.  

Phases of becoming a CPA  

There are many steps involved in becoming a CPA, from passing the exam to securing a permit. According to NASBA, an applicant must have 120 or 150 credits from a NAAC-accredited institution.  

To pass the exam, you must first:   

·         Meet the educational requirements   

·         Apply AICPA  

·         After that, you’ll receive a Notice to Schedule, and you’ll need to arrange your papers accordingly.  

The CPA syllabus consists of four papers that have to be completed within 18 months. The sections include Business Environment and Concepts (BEC),  Financial Accounting and Reporting (FAR), Auditing and Attestation (AUD), and Regulation (REG).

BEST INSTITUTE FOR US CPA TRAINING IN INDIA  

While we know success in CPA exams is achieved through continuous dedication and commitment to the goal, there’s no denying that you need proper guidance to reach that definite goal.    

Choosing the right institute is a crucial stage of pursuing a US CPA Course. You have to keep in check your criteria before analyzing and selecting them. Your approach should not just be for clearing the exams but to get placement and assistance for licensure.    

Here are some points to keep in check before choosing an institute:    

-> Live and recorded lectures- As many working professionals pursue this course, it is essential to have recorded classes in case of missing live classes and getting better clarity.   

-> Experienced faculties- CPA is a course for which you need proper guidance from an expert and experienced faculty that helps in the immense preparation   

-> One on one interaction-Be it for enrolment, evaluation, or doubt clearance, one on one mentorship is required.    

-> Support and guidance in clearing the US CPA exam is only one step of achieving CPA designation. The institute should also assist you in getting you placed and your licensure.  

The best institute for pursuing CPA in India today would be Simandhar Education. It is a one-stop destination for all the processes regarding CPA, be it getting the course, enrollment, evaluation, results, certification, and licensing.  

Reasons Why to Choose Simandhar for  CPA USA Course  

·         Comprehensive Study Material by Becker: Simandhar provides Becker’s study material and accessible lectures converted into simple language for Indian students’ understanding, which helps set the excellent ground for the base. 

·         End to End Evaluation Assistance: As we know, the evaluation process can be tedious and distract your exam preparation. Here, Simandhar’s evaluation team will assist with the evaluation process relatively smoothly.   

·         Live online interactive classes: Not just live classes; Simandhar provides you with lectures thorough revision, frequent Mock tests, SIMs, and MCQs. 

·         Excellent placement assistance: Since Simandhar has a tie-up with all big 4s and MNC’s, students get excellent aid in placement and comparatively great opportunities compared to other institutes.   

·         Personal Grooming Sessions for Interview: They conduct various mock interviews and mock tests for making students ready for interviews   

·         Licensing Support: Great Support is given to the CPA Alumni for the complete licensure procedure. 

CONCLUSION-   

A CPA license shows dedication to the profession and frequently identifies prospects for leadership and management jobs. Those who wish to hold positions of more authority and responsibility require CPA certification.   

 The CPA designation distinguishes you from the competition and allows you to join one of the most renowned and well-respected professions.  

What will be the total cost of CPA course in India? 

The US CPA administers by the American Institute of Certified Public Accountants (AICPA), the world’s largest accounting organization. The CPA designation holds professionals in the field of finance and accounting up to the highest possible degree. 

The AICPA gives a CPA certification to those who have completed the standardized CPA test, have gained requisite and appropriate working experience.  

But what is CPA? Certified Public Accountants(CPAs) are trusted financial advisors to assist organizations or individuals to reach their financial goals. As a result, US CPAs have high demand in various fields like public accounting, business and industry, government, and education. 

However, to do a CPA course and work in various companies and industries, individuals might consider knowing the cost of the CPA course in India. Before going into CPA course details, let’s discuss the career options and benefits of US CPA. 

The Certified Public Accountant course is the most significant degree of achievement, which provides multiple chances to exhibit your talents in the finance and accounting industry. Simandhar Education explains in detail how you can benefit from enrolling in a CPA course and achieving a CPA license. 

Advantages that come with the US CPA course 

Various consulting and auditing firms require CPAs as they can provide service in any area of finance, broadly in corporate governance and financial accounting, etc. The below are some career opportunities for US CPAs. 

·         Public Accounting  

CPAs are required within the accounting field and management of public funds. Both private and public entities hire CPAs to serve as auditors and financial advisors. They can also handle all aspects of financial accounting as well as tax-related services and more. 

·         Management Accounting  

A Certified Public Accountant is accountable for preparing budgets and financial documents while analyzing accounting methods and working with management teams to help them make sound business decisions. 

·         Financial Analysts  

As a securities analyst, you want to analyze financial data, provide reports to demonstrate technical information, assess data impacting investment plans, and assist management in making informed decisions to help the company expand. 

·         Government Sector 

 CPAs employed by government agencies are accountable for auditing, financial reporting, and management accounting duties. They can influence the policies that are adopted at various levels of the government. CPAs can assist you in figuring how to make the most of your money most efficiently. 

·         Corporate Accounting  

CPAs are employed by businesses to manage accounts, which incorporates accounting, auditing, and finances. They also function in the capacity of internal auditors, reviewing risk management issues such as financial data, procedures for control, and operations to ensure the company runs efficiently. 

·         Tax accounting 

 As a CPA, you will be liable for keeping track of tax records and filing tax returns to advise businesses on tax strategies, compliance, and tax rules and regulations. 

·         Non-profit organizations 

They employ CPAs to assist them in managing their revenues and to learn the most efficient methods for collecting tax and financial systems. In addition, NGOs or freelancers often engage CPAs, allowing them to figure out a spread of groups. 

US CPA License and Certification 

The Uniform Accountancy Act, developed by the National Association of State Boards of Accountancy (NASBA), makes it simpler to get a CPA license. 

After successfully passing the Uniform CPA Exam (US CPA Exam), accountants can earn the designation of US CPA. While CPAs are required to adhere to the exact outline of training and experience for each state or region, there are numerous variations in the process of licensing and the specific requirements.  

The procedure and the requirements differ among boards. For example, they differ in how credit hours are allocated between the accounting, business, or ethics classes. There also are unique requirements for satisfying experiential requirements. 

Every state and all jurisdiction boards require CPA renewal of licenses contingent on ongoing professional development. Therefore, CPAs need to keep their education up to date to keep up-to-date with the latest laws and requirements for reporting. 

The cost of US CPA Course in India 

The total cost of the US CPA Exam process for an Indian student is often split into three parts: 

1. Training fees of Becker product 

With online interactive classes, Becker is the leading review course provider for the US CPA courses. Training fees for the Becker product with live courses are closer to INR 105000- 115000.  

The benefit of being a Becker is that there are unlimited views on the recorded videos and 6500 MCQs, 3000 SIMs that help the candidate pass the CPA exam, which is 50% objective. 

You can visit our Simandhar Education US CPA page for more information about price discounts and other details. 

2. Evaluation fees 

The evaluation fee is around 22000 to 23000 INR which is paid to the evaluation agency for checking the eligibility to sit for the CPA examination. 

3. Exam fees 

Exam fees plus international testing fees come to roughly 185000 INR.  

Description 

Cost in INR 

Total Exam fees for 4 exams (per  section is $250) 

73,000 

International testing  fees (for 4 exams) ** 

1,09,500 

Evaluation fees 

23,000 

Application fees 

14,600 

Training fees  

1,15,000 

** Please note that the international testing fee is not applicable if you take the exams in the US. 

Conclusion  

Is a CPA in the USA equivalent to an Indian CA?

There might be many candidates who are interested in becoming a US CPA. Some have good reasons, while others decide based on incorrect information. In this article, Simandhar Education helps you decide whether it’s worth it for Indian CAs to pursue the US CPA designation.

Let’s start with the differences between the CPA in the USA and the CA that is granted in India and other countries. There isn’t much distinction between a CPA and a chartered accountant regarding knowledge and professional tasks. Accounting, auditing, financial reporting, and taxation are all topics covered by Certified Accountants and CPA specialists. 

Furthermore, both can operate in the public and private sectors for small to very large international companies. Before you pursue either of these credentials, you should understand the eligibility criteria and the advantages

Indian CA

A chartered accountant is a professional who has passed the CA exams and the academic requirements in the country where they are certified.  They are certified by the Institute of Chartered Accountants of India (ICAI), and they advise clients on taxes, audit accounts, and provide accurate financial data. 

Chartered Accountants are also experts in the IFRS (International Financial Reporting Standards) and other international accounting standards.

The role of Indian CAs is quite similar to that of CPAs in the United States. The major difference is that the services of  Indian chartered accountants are limited to India, while the US CPA credential is recognized around the globe.

Advantages of a CA license: 

·         Analytical And Problem-Solving Ability: Chartered Accountants in India can analyze and solve problems. To ensure a firm’s success, it is necessary to seek the assistance and advice of a finance specialist. Chartered Accountants have required usability in handling difficulties in general, making them the go-to person for any problem presented by businesses. 

·         Various Job Options: After earning a CA degree, you have many options when it comes to choosing a career path. Auditing and accounting are the most desirable jobs. A CA can work as a consultant, SAP specialist; the possibilities are endless in this sector. 

·         On-Demand: Being a Chartered Accountant is an excellent decision and essential for the advancement in the sector because chartered accountants play such a vital role in managing funds and the working of finance and accounting-related activities. 

CPA in the USA

The CPA (Certified Public Accountant) is an accounting credential awarded to people who have completed specified education and experience criteria to work as a public accountant. The CPA license is given at the state level by each jurisdiction’s Board of Accountancy, not at the federal level, each of the United States’ 50 states and five territories has 55 jurisdictions. 

To earn and hold your CPA license, each jurisdiction has slightly different criteria, however, usually include the three benchmarks listed below. 

·         Accounting training can help you earn a bachelor’s degree and 150 hours of higher education. 

·         Pass the four-part CPA exam in the duration of 18 months. 

·         Have at least one year of qualified and documented job experience, depending on the jurisdiction. 

·         CPA candidates in some states must additionally pass an ethics exam before they can seek licensure.  

The Advantages of a CPA License

The CPA certificate has numerous advantages, particularly for people who aim to work for organizations situated in the United States. 

·         To begin with, CPAs have a thorough understanding of US GAAP (Generally Accepted Accounting Principles) and federal income taxation in the United States. Furthermore, they are familiar with various accounting documentation utilized by publicly traded corporations in the United States. 

·         Only CPAs can sign an audit report on behalf of an accounting firm in several states. In some states, only CPAs are allowed to provide compilation services. 

·         Many large firms want their senior financial executives to acquire a CPA certification to demonstrate their knowledge and skill in the field. 

CONCLUSION

In India, there is a growing need for US CPAs. Many global corporations have entered India in recent decades, resulting in significant regional expansion. Often, an Indian company’s financial reporting must be connected with worldwide accounts that must adhere to US GAAP or IFRS. 

As a result, accounting professionals are increasingly required to be knowledgeable about a variety of standards.

4 Strategies to pass CPA Exam in the first attempt

A Certified Public Accountant (CPA) is the highest standard degree in the field of Finance and Accountancy. The American Institute of Certified Public Accountants (AICPA), the world’s largest accounting body, conducts the CPA exam.

The CPA Exam consists of four different parts: Financial Auditing and Reporting (FAR), Auditing and Attestation (AUD), Regulation (REG), and Business Environment and Concepts (BEC). All four sections of the CPA exam consist of multiple-choice questions (MCQs) and task-based simulations (TBS) to assess your accounting knowledge. 

The CPA Exam is hard to pass due to the extensive amount of information covered.  Although the CPA exam is challenging to pass, many candidates pass it the first time they sit for the exam. 

But, how? Could anyone pass the US CPA exam on the first attempt? Yes, anyone can pass on the first try, even you. To improve your chances, make sure you follow some or all of the below five strategies.

1. Choose a review course

Review courses typically help you pass the CPA exam on the first try, so you haven’t stuck re-taking any section.  Choose a review course that is constantly updated to match the current CPA course, and you don’t waste your time focusing on topics that no longer appear.  

2. Time Management

Give most of your time to the CPA exam preparation. You have to be consistent, be hardworking, and concentrate wholly on success. While preparing for the CPA exam, try to focus on the syllabus, use your time wisely, and get well prepared for the CPA examination.

3. Cover all sections of study materials

While preparing for exams, sometimes you may skip a few sections of the study materials. This is the major mistake you might make. Study everything accordingly by giving equal importance to each section and the exact amount of time to know it better.

4. Use Spaced repetition

The spaced repetition technique is so simple. Study for an hour or two and then walk away from your study material for 30 minutes. Come back to revisit the study material. Walk away for an extended period, then again come back to review. This tactic increases your focus on the CPA exam preparation. 

CPA is the most widely sought credential and one that is valued in any business. So, it is worth every moment of the time it takes to prepare for the exam.  Need more details on the US CPA exam?

5 Common mistakes CPA exam candidates make on simulations

When it comes to CPA Exam scoring, the American Institute of Certified Public Accountants (AICPA) gives equal weight to Multiple Choice Questions (MCQs) and Task-Based Simulations. While task-based simulations or sims are a significant part of the CPA exam section, mastering sims is crucial to passing the exam.

Many candidates overlook the importance of task-based simulations and make some common mistakes. Simandhar Education, in this article, listed 5 mistakes CPA exam candidates make in the simulations section and strategies to avoid them.

1. Not practicing simulations

Solving simulations take longer than answering MCQs, which can be overwhelming while preparing for the CPA exam. In addition, when candidates study for simulations, they often depend on shortcuts, making them less prepared for the actual CPA examination. Therefore, you should practice several simulations and complete CPA Exam Review Courses to prepare well.

2. Not following the directions.

Each simulation direction will clearly explain what needs to be done in that specific sim. Unfortunately, most candidates unfollow the directions and miss crucial steps. For example, if you are doing certain journal entries and there is a blank where no entry is needed, the instructions will state whether to enter “0” or leave the entry completely blank. 

You may lose points by not following specific directions and putting a blank where a “0” should be. So, take time to read the directions of every CPA Exam question to achieve a good score.

3. Not preparing for research simulations.

CPA exam candidates should research questions, but they do not spend much time on research questions in preparation. However, if candidates are good at finding the answers in the literature, they can knock out this simulation in five-ten minutes. So, if your research question is in testlet five, wait till last as it won’t take long as the other sims.

4. Spending more time on a single question

During the CPA examination, it’s common for candidates to get stuck with the questions. However, they may run out of time if they spend too much time on a single question. If you are unsure of one or more answers and it’s time to move on to the next testlet, guess the answer. Start answering from easiest to hardest, so you can have more time for the difficult questions. 

5. Stressing over simulations

The CPA exam is challenging for everyone, and the simulations are especially tough and stressful than MCQs. However, candidates can earn partial credit on simulations, so don’t panic if you don’t know every single answer in a specific sim. Just answer the questions you know, use the literature for ones you don’t, and guess where you don’t have time to look it up. 

When you get to the task-based simulations portion of your CPA exam, remember these strategies.