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CPA EXAM IN INDIA

CPA EXAM IN INDIA

1. Who is CPA
Certified Public Accountant. An individual who has passed the uniform CPA examination administered by the American Institute Of Certified Public Accountants, and who has received state certification to practice accounting. To achieve this designation, an individual usually has to complete 5 years of education, and a certain degree of work experience. Additionally, once an individual becomes a CPA, they typically must complete a certain number of hours of continuing education each year.

CPA EXAM IN INDIA

2. CPA Eligibility Criteria for Indian Students:-
To be eligible for CPA foundation examination which is first level examination in CPA curriculum, the student must have any of the below qualification.
• Members of the Institute of Chartered Accountants of India.
• Members of the Institute of Cost and Works Accountants in India.
• Members of the Company Secretaries in India.
• Master of Commerce
• MBAs

CPA EXAM IN INDIA

3. Benefits of CPA Course:-
The benefits of becoming a CPA and it’s relevance in India is really fantastic after becoming CA, some of them are mentioned below.
• Job opportunities for CPA’s exist all over the world.
• CPA confirms knowledge of U.S. GAAP and GAAS
• The Australian and Canadian Chartered Accountants have a reciprocal arrangement with AICPA, U.S.A.
• American CPA’s automatically qualify for membership in both Canadian and Australian Chartered Accountant societies

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CPA EXAM IN INDIA

4. Scope of a CPA :-

-Scope of CPA in India with American companies:-

• After liberalization, American companies like GE Capital, JP Morgan, Ford Motors, General Motors, Microsoft, Oracle, Coke, Pepsi have set up shop in India. They require professionals who have thorough knowledge of U.S GAAP. So they prefer a CPA before any other accounting professional of any curriculum.

-Scope of CPA in Indian companies:-
• Indian corporates like Infosys, ICICI, Wipro, Satyam, Reliance, HDFC Bank have issued ADR’s in U.S.A. Due to the listing requirements of the Securities Exchange Commission (SEC, U.S.A) these companies need to get their financial statements audited by CPA’s Every quarter these companies have to send their financial statements to SEC. These financial statements have to be presented according to U.S GAAP, hence these companies require CPA’s with thorough knowledge of U.S. GAAP.
• Public Accounting firms in India like Pricewaterhouse Coopers, KPMG, Ernst & Young, employ CPA’s to do U.S. GAAS audit. All U.S companies as well as Indian companies listed in U.S have to get their financial statements audited by specialists who have thorough knowledge of U.S GAAS and U.S GAAP. A CPA designation confirms knowledge of U.S GAAP and U.S GAAS.

5. Subjects tested and patter:-
SUBJECTS OBJECTIVE TYPE OTHER OBJECTIVE TYPE QUESTIONS ESSAY
Business Law 50 – 60% 20 – 30% 20%
Auditing 50 – 60% 20 – 30% 20%
Taxation 50 – 60% 40 – 50% NIL
Financial Accounting 50 – 60% 20 – 30% 20%

CPA EXAM IN INDIA

6. Best States for CPA Exam
International students prefer Delaware, Colorado, California, Illinois, New Hampshire and Michigan. Each candidate and situation is different. International candidate with less than 4 years of bachelors degree and without additional qualification prefer Delaware. Candidate with masters degree or bachelors plus additional accounting certification prefer Colorado. Colorado is the only state which gives CPA certificate to advance degree holder without work experience. However as told earlier, Indian Chartered Accountants are eligible to take the CPA course exams from the state of Colorado without any foreign credential evaluation.

CPA EXAM IN INDIA

7. Advantage of CPA Course :-
Advantages
What a great foundation. Accounting is a type of puzzle. With journal entries and other documentation, you can piece together how a business is operating. Understanding the nuts and bolts of a business – how it operates, how it mitigates risks, how it makes money, etc – is an invaluable skill. So if you decide to pursue another career later on, you’ll have already built a great business foundation.
You can use accounting as a gateway into areas of interest. Are you interested in the fashion industry, sports industry, finance industry? Would you prefer a large company in a metropolitan area or a small, private business in a small town in another country? Accounting might be one of the only professions that would be useful and always in demand across industries, companies, and countries.

CPA EXAM IN INDIA

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CPA EXAM IN INDIA

 

CPA EXAM IN INDIA

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