CPA Full Form - Eligibility, Subjects, Opportunities,
CPA Full Form: The CPA course full form is Certified Public Accountant. CPA is a professional accounting certification given by the American Institute of Certified Public Accountants. Basically CPAs are hired by companies to handle their accounts. The CPA certification given by AICPA is the highest standard of competence in global accounting. The Indian equivalent of the CPA certification is Chartered Accountancy which is a similar is prevalent in India. However, professionals can also get a CPA degree in India as well. Mainly, CPA certification is required to practise accounting in the USA. To get CPA certification in India, candidates are required to pass four subjects within a duration of 18 months. Read the complete article to know more about the full form of CPA, careers for CPA, CPA in India and more
CPA Full Form - Overview
Full form of CPA | Certified Public Accountant |
Number of Subjects | 4 |
Testing window duration | 18 months |
Career options | Internal Audit Director, Tax Manager, Financial Controller etc. |
Governing body | American Institute of Certified Public Accountants (AICPA) |
Minimum salary of CPA | Minimum salary of CPA is around 7.6 lakhs per annum |
CPA Certification - Eligibility
Candidates aspiring to get a CPA certification should first meet the eligibility criteria specified by the authorities. The AICPA specified different eligibility criteria for different states in the US and other countries. The CPA eligibility criteria for India has been given below:
Applicants must have citizenship of either India, Bhutan, Bangladesh, Myanmar, Maldives, Nepal, Sri Lanka or USA.
Candidates who have a MBA or M.Com or any other Masters degree in the field of Commerce, Accounting or Finance are also eligible to take up the exam.
Applicants require 120 credits to take the US CPA exams and 150 credits to get his CPA licence.
Usually one year of University education in India is equal to 30 credits of US education
In some cases, first division graduates of a three-year degree from NAAC-A accredited universities of India are qualified to take the US CPA exams too.
CPA Certification - Exam Centres in India
Candidates who are seeking a CPA certification can give the exam at the exam centres specified by AICPA in India. The list of CPA exam centres in India has been given below:
Hyderabad
Ahmedabad
Mumbai
Delhi
Bangalore
Chennai
Kolkata
Thiruvananthapuram
CPA Certification Subjects
There are a total of 4 subjects in CPA and candidates need to give separate exams for each subject during a tenure of 18 months. Candidates need to score 75 to pass the CPA exam. The complete exam structure of CPA certification has been given below
Paper | Course Contents | Duration | Question Pattern |
Paper-1 | Financial Accounting & Reporting (FAR) | 4 Hours Exam | 66 MCQs (50% weightage) administered viz 2 testlets & 8 Task-based simulations (TBSs) administered viz 3 testlets (50% weightage). |
Paper-2 | Auditing & Attestation (AUD) | 4 Hours Exam | 72 MCQs (50% weightage) administered viz 2 testlets and 8 Task-Based Simulations (TBSs) administered viz 3 testlets (50% weightage). |
Paper-3 | Regulation (REG) | 4 Hours Exam | 76 MCQs (50% weightage) administered viz 2 testlets and 8 Task-Based Simulations (TBSs) administered viz 3 testlets (50% weightage). |
Paper-4 | Business Environment & Concepts (BEC)) | 4 Hours Exam | 62 MCQs (50% weightage) administered viz 2 testlets, 4 Task-Based Simulations (TBSs) administered viz 2 testlets (35% weightage) and 3 Written Communication Tasks (WCs) (15% weightage) |
Difference between CA and CPA
CPA | CA | |
Full Form | CPA stands for Certified Public Accountant | CA stands for Chartered Accountant. |
Governing body | American Institute of Certified Public Accountants (AICPA) is the governing body of CPA | Institute of Chartered Accountants of India (ICAI) is the governing body of CA |
Continuing education requirements | A CPA is required to complete 40 hours of continued education every year with minimum 4 hours of professional ethics | Education requirements for CAs vary depending on the rules of the board. |
Recognition | CPA is an international degree that is accepted in English speaking countries like the US | CA is accepted majorly in India and a few middle eastern countries |
Eligibility | Candidates must have a five year education in the field of business and accounting to enrol in the course | Candidates who have passed their class 12 are eligible to take the CA exam. |
How to Become CPA
Now that the eligibility criteria for CPA and the subjects have been laid out in detail above, know the route map or the steps to become CPA:
- Earn a Master's degree to get the required 150 credits in case you have done a three year graduation course. (30 for each year)
- Register for and clear the CPA exams within the given time frame
- Apply for membership and license from the CPA Institute
- Become a member and practise as a CPA
CPA Career Opportunities in India
There are various career options for professionals who possess a CPA certification. Talking about career opportunities in CPA, here are some of the roles and positions CPA professionals can get into:
Internal Audit Director
Chief Financial Officer
Chief Accountant
Commercial Director
Finance Manager
Chief Executive Officer
Tax Manager
Vice President, Finance
Financial Controller
Finance Director
Chief Audit Executive
Frequently Asked Question (FAQs)
CPA stands for Certified Professional Accountant.
Candidates must have a Master’s degree in the field of accounting, business or finance.
Yes, Indian citizens can take the CPA exam in India itself as there are many cities where the exam is organised.
Yes, CAs, CMAs and CSs can take the CPA exam
The minimum salary of CPA in India is Rs 7.6 lakhs per annum
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