Global accounting professionals desire to pass the highly coveted Certified Public Accountant (CPA) certification, securing highly lucrative auditing, tax, and financial advisory positions. If you are preparing to study for CPA, this book is everything you will ever require in the form of CPA qualifications, US CPA, CPA syllabus, and a CPA study planner to assist you through.
“According to research, MNCs and Big 4 firms (Deloitte, PwC, EY, KPMG) prioritise CPAs for roles in auditing, taxation, and financial advisory."
Correct guidance and counseling in the right direction can lead your career to the international level. Let's break it down.
What is the CPA Course?
CPA certification is globally recognised, internationally renowned certification granted by the American Institute of Certified Public Accountants (AICPA). It evidences expertise in taxation, financial accounting, audit, and business law and thus the most coveted qualification for every finance professional globally.
Key Benefits of Becoming a CPA:
- Higher chances of higher pay packages and offshore assignments abroad
- Premium qualification for accounting, auditing, and financial advisory positions
- Increased identification and notice from Big 4 firms and foreign multinational firms
- Complete understanding of US accounting procedure, tax act, and business law
Your golden key for becoming a manager of finance, consultant, or auditor of the international company is a CPA certification.
CPA Eligibility: Who Can Apply?
CPA passing the eligibility requirement is obtaining this extremely coveted certification. The minimum in terms of requirements for a certified CPA is the educational requirements established.
Bachelor's degree in accounting, business, or finance from an accredited college or university
Basic CPA Eligibility Criteria:
- 150 credit hours of coursework (five years' worth of college credit)
- Accounting experience (state requirements dependent)
- Passing all four sections of the CPA exam
Many candidates opt for additional coursework or a master’s degree to fulfil the required credit hours. If you’re unsure about your eligibility, consulting with an academic advisor or CPA preparation provider can clarify your path forward.
US CPA Requirements: Exam & Licensing
To become a CPA, candidates must meet the following US CPA requirements:
1. CPA Exam Requirements:
- Pass the four sections of the CPA exam within 18 months
- Pass at least 75 in all of these sections
2. CPA Licensing Requirements:
- Accumulate work experience (usually 1-2 years as a supervised intern under a licensed CPA supervisor)
- Pass ethics exam requirements (administered by state boards)
- Pass the education credit hour requirement
Having done so, you are eligible for CPA licensure and, with it, open up finance and accounting career opportunities globally.
CPA Exam Syllabus: Subjects & Structure
CPA exam has four sections discussing various subjects of accounting and finance:
1. Auditing & Attestation (AUD)
- Professional responsibilities and general principles
- Risk assessment and response
- Audit procedures and examination of evidence
2. Business Environment & Concepts (BEC)
- Risk management and corporate governance
- Economic concepts and financial management
- Business law and information technology
3. Financial Accounting & Reporting (FAR)
- Financial reporting and financial statement preparation
- Governmental and not-for-profit accounting
- Conceptual framework and financial standards
4. Regulation (REG)
- Federal taxation (business, individuals, and real property transactions)
- Professional ethics and business law
- CPA professional responsibility and ethics
All sections include a series of written communication exercises, task-based simulations (TBS), and multiple-choice questions (MCQs).
CPA Study Plan: How to Prepare for the CPA Exam?
Preparing for the CPA exam needs a well-planned CPA study plan. Utilize the steps given below to get the maximum out of your preparation:
Step-by-Step CPA Study Plan:
- Get Familiar with the Exam Pattern: Get familiar with question types, time limit, and marking scheme.
- Study Plan Preparation: Prepare for at least 3-4 months for each section with study of 15-20 hours a week.
- Quality Study Material: Take a CPA program like Imarticus Learning's Certified Public Accountant Program to get quality material along with live simulations.
- Mock Tests Practice: Practice full-length mock tests for speed and accuracy improvement.
- Study and Rewrite: Rewrite bad topics and good topics of recent weeks.
Why Choose Imarticus Learning’s CPA Course?
- Premium In-depth Content to break complex into easy
- Live Online Classes by subject experts
- Mock Exams & Money-Back Guarantee for exam preparation
- 12-18 Months Study Duration for convenience of studying and better preparation
- Awards Winner: Best Education Provider in Finance for 30th Elets Worlds Education Summit 2024
- After the candidate completes a rigorous CPA course, it is likely to help the most in passing the CPA exam on the first attempt.
FAQs
- How much time is required to complete the CPA course?
It will take 12-18 months to complete each segment of the CPA exams and meet licensing requirements.
- What are the career prospects after completing the CPA course?
CPAs can provide auditing, taxation, financial advisory services, risk management, and corporate finance.
- Can CPA be on a full-time job?
Yes, the majority of them sit for the CPA exams at the same time with their jobs offering flexible working hours.
- What is the CPA exam pass rate?
The CPA exam pass rate is about 50%, therefore hard study calendars are necessary.
- Is CPA better than ACCA or CA?
CPA is for aspirants who agree to accept global recognition and hiring in US-based firms, whereas ACCA and CA are geographic-based.
- How much is the CPAs' salary?
25-40% increment in salary is attained by CPAs compared to non-certified candidates, whereas they get ₹8-30 LPA pay based on how much work experience they have.
- Do the CPA certainties ever have to be renewed?
Yes, CPAs have to undergo Continuing Professional Education (CPE) credits periodically so that their license can be renewed.
Conclusion
The CPA certificate is globally valued, and it offers many career opportunities in auditing, accounting, and taxation. With MNCs and Big 4 opening campus gates for hiring CPAs, the certificate can be a take-off point to cushy salaries around the globe.
It is not easy to clear the CPA exam for certification and requires hard work, dedication, and effective training. Joining a renowned CPA course such as Imarticus Learning offers the inspiration, environment, and guidance required to crack the exam and achieve success in life.
If you are a certified public accountant and you wish to improve your professional life and become worth wherever you are in the globe, then the CPA course is the magic spell to turn over your life to success. Enroll now and begin your life journey as a certified CPA!
