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To build an arena for global business and professional education.
Mission
Mission is to give quality education at affordable rates.


Certified Public Accountant (CPA, USA) is a license issued by one of the 55 states or territories of US – which authorize holder to practice as a certified public accountant in that jurisdiction. It is designed by AICPA (American Institute of CPA’s) and NASBA (National Association of State Board of Accountancy, USA) to ensure only qualified individuals become CPA’s. The program which is similar to Chartered Accountancy program in India, is designed to ensure that only qualified individuals become CPA’s, equipping the individuals to have a thorough knowledge of Accounting principles of US.

Besides Practice in U.S, CPA’s have much vogue in sectors such as financial services, banking, manufacturing and construction .The services provided by CPA’s in industry are:

Assurance and Attestation Services

  • Financial Accounting
  • Management Consulting and Performance Management
  • Information Technology (especially as applied to accounting and auditing)
  • Corporate Finance (Merger & Acquisition, initial public offerings, share and debt issuing)
  • Financial Planning
  • Financial Analysis
  • Venture Capital
  • Risk Management
  • Forensic Accounting (preventing, detecting, and investigating financial frauds)
  • Tax Preparation and Planning
  • Estate Planning
  • Corporate Governance
  • Income Tax

Scope for Non-U.S. candidates

Any candidate who applies for the above mentioned services in a U.S. firm is expected to have a strong foundation in U.S. accounting standards. Thus in the present global scenario, U.S. firms operating in foreign countries hire residents who are equipped in it. Here lies the relevance of CPA for non-US candidates.

For Indians CPA has much highlight compared to other professional courses in Accounting. CPA has a better edge in terms of factors such as duration of the program, acceptability (recognition), perks and benefits and pass percentage.

Eligibility

Educational Requirement

  • Education and experience requirements determined by individual state Board of Accountancy in which they intend to take the exam.

For Non-US Candidates:

  • Eligible to qualify as U.S. Certified Public Accountants (CPAs) as long as they meet Board of Accountancy eligibility requirements.
  • Typical requirement is a U.S. bachelor’s degree -includes a minimum number of qualifying credit hours in accounting and business administration with an additional 1 year study. This requirement for 5 years study is known as the "150 hour rule" and has been adopted by the majority of state boards, although there are still some exceptions
  • Most states accept non-U.S. education credentials; however they must normally be evaluated by an agency approved by the board.

Continuing Professional Education

  • Required to take continuing education courses in order to renew their license.
  • Vary by state.
  • The vast majority require 120 hours of CPE every 3 years with a minimum of 20 hours per calendar year be fulfilled through attending live seminars, webcast seminars, or through self-study (textbooks, videos, online courses, all of which require a test to receive credit).

Licensing and certification requirements

  • Vary from state to state.
  • Two-tier states-some states-individual would first become certified as a CPA—usually by passing the CPA exam-later be eligible to be licensed once a certain amount of work experience is accomplished
  • One tier system- an individual would be certified and licensed at the same time when both the CPA exam is passed and the work experience requirement has been met.

Work experience requirement

  • Varies from state to state
  • Two-tier states generally do not require work experience for a CPA certificate (it is required for a license to practice).
  • Some states, such as Colorado and Massachusetts, will waive the work experience requirement for those with a higher academic qualification compared to the state's requirement to appear for the Uniform CPA.
  • The majority of states still require work experience to be of a public accounting nature. However an increasing number of states, including Oregon, Virginia, Georgia and Kentucky will accept experience of a more general nature in the accounting area. This allows persons to obtain the CPA designation while working for a corporation's finance function.
  • The majority of states require work experience to be verified by a licensed CPA. This can cause difficulties for applicants based outside the United States. However, some states such as Colorado and Oregon will accept work experience certified by a Chartered Accountant as well.

Part 1

Auditing and Attestation (AUD)

  • Engagement Acceptance and Understanding the Assignment
  • Understanding the Entity and Its Environment
  • Performing Audit Procedures and Evaluating Evidence
  • Evaluating Audit Findings, Communications, and Reporting
  • Accounting and Review Services Engagements
  • Professional Responsibilities

Business Environment and Concepts (BEC)

  • Corporate Governance
  • Economic Concepts and Analysis
  • Financial Management
  • Information Systems and Communications
  • Strategic Planning
  • Operations Management

Financial Accounting and Reporting (FAR)

  • Conceptual Framework, Standards, Standard Setting, and Presentation of Financial Statements
  • Financial Statement Accounts: Recognition, Measurement, Valuation, Calculation, Presentation, and Disclosures
  • Specific Transactions, Events and Disclosures: Recognition, Measurement, Valuation, Calculation, Presentation, and Disclosures
  • Governmental Accounting and Reporting
  • Not-for-Profit (Non-governmental) Accounting and Reporting

Regulation (REG)

  • Ethics, Professional, and Legal Responsibilities
  • Business law
  • Federal Tax process, Procedures, Accounting, and Planning
  • Federal Taxation of Property Transactions
  • Federal Taxation of Individuals
  • Federal Taxation of Entities

Percentage value of each Examination component

  • • Auditing and Attestation (AUD)(4 hrs.), Financial Accounting and Reporting (FAR)(4 hrs.), and Regulation (REG)(3 hrs.):
    • multiple-choice 60%
    • Task based simulations 40%
  • Business Environment and Concepts (BEC) (3 hrs.):
    • multiple-choice 85%
    • written communication tasks 15%