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The CPA in India is available since 2021 and candidates can appear for the exam from India without travelling to the Middle East or USA. The CPA in India is an accounting qualification license granted by the American Institute of Certified Public Accountants (AICPA) to practice accountancy in the USA. CPA’s are certified accounting professionals who are hired by a company or firm to handle their accounts department. Before applying for CPA exam, candidates must make sure they fulfil the eligibility criteria and submit the necessary documents to successfully register for CPA in India.
Within 18 months, candidates must pass the four subjects:
Financial Accounting and Reporting (FAR),
Auditing and Attestation (AUD),
Business Environment and Concepts (BEC), and
One among Business Analysis and Reporting (BAR)/ Information Systems and Controls (ISC) / Tax Compliance and Planning (TCP)
AICPA, world’s largest accounting organization, administers the CPA exams. Candidates need to pass all four CPA examinations to get membership in the AICPA. The 55-state board of accountancy in the United States who are members of NASBA, on the other hand, awards a CPA license. Each state board has its own eligibility for CPA that an aspirant must have to receive a CPA designation.
The following are some guidelines candidates need to follow to get CPA certification in India:
A bachelor's degree
To appear for US CPA tests, an aspirant requires 120 credits.
To acquire a US CPA license the candidate should have at least 150 credits.
One year of university education in India is equivalent to 30 credits in the United States.
To apply for CPA registration in India the candidate must apply online. The candidate first needs to register and upload the required documents for evaluation to NASBA after paying the international evaluation application fee. After successful evaluation by NASBA to determine the eligibility, the candidate can then register and pay the exam fee.
The CPA exam syllabus requires the candidate to pass three core exam sections and one discipline exam section chosen by the candidate. The three Core exam sections, Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR) and Taxation and Regulation (REG). The three Discipline exam sections available are, Business Analysis and Reporting (BAR), Information Systems and Controls (ISC) and Tax Compliance and Planning (TCP). Each exam is four hour long.
Paper | Course | Duration | No. of multiple choice question | Task Based Simulations |
---|---|---|---|---|
Paper-1 | Financial Accounting & Reporting (FAR) | 4 Hours | 50 (50% weight) | 7 (50% weight) |
Paper-2 | Auditing & Attestation (AUD) | 4 Hours | 78 (50% weight) | 7 (50% weight) |
Paper-3 | Regulation (REG) | 4 Hours | 72 (50% weight) | 8 (50% weight) |
Paper-4 | Business Analysis and Reporting (BAR) | 4 Hours | 50 (50% weight) | 7 (50% weight) |
Paper-5 | Information Systems and Controls (ISC) | 4 Hours | 82(60% weight) | 6 (40% weight) |
Paper -6 | Tax Compliance and Planning (TCP) | 4 Hours | 68 (50% weight) | 7 (50% weight) |
The syllabus of CPA in India is provided in the table below:
Paper | Subject | Topics |
---|---|---|
Paper-1 | Financial Accounting & Reporting (FAR) |
|
Paper-2 | Auditing & Attestation (AUD) |
|
Paper-3 | Regulation (REG) |
|
Paper-4 | Business Analysis and Reporting (BAR) |
|
Paper 5 | Information Systems and Controls (ISC) |
|
Paper 6 | Tax Compliance and Planning (TCP) |
|
AICPA & NASBA administers the CPA exam in India at eight test centers. The list of test centres is given below:
Hyderabad
Ahmedabad
Mumbai
Delhi
Bangalore
Chennai
Kolkata
Thiruvananthapuram
A Certified Public Accountant is an respected professional in the world of accounting and finance. A CPA license can boost an accountants careers and also provide plenty of opportunity for upward mobility.
Increased Opportunity in the Short Term
Increased Opportunity in the Long Term
Higher Salary and Benefits Potential
Future Job Stability
It is a Well-Respected Credential
Candidates after getting CPA certification in India can apply for the following job opportunities:
Internal Audit Director
Tax Manager
Vice President, Finance
Financial Controller
Chief Accountant
Finance Manager
Finance Director
Chief Financial Officer
Chief Executive Officer
Chief Audit Executive
Commercial Director
International Evaluation Fee: The international evaluation fee is USD 225
Examination Fee: The CPA examination fee for each section is approximately USD 193.45 .
Registration Fee: The fee is charged as per the state or depends upon the number of sections chosen by the candidates. One section at a time- USD 63, Two sections at a time- USD 81, Three sections at a time- USD 99 , Four sections at a time- $177 (approx. Rs. 12,900)
Ethics Fees for the CPA exam: To attain an ethics license, you should clear the ethics exam according to your state. The ethics fee ranges approximately USD 150 to USD 200.
CPA Licensing Fees: Upon completing the ethics exam, candidates are considered eligible to receive the CPA license. This fee needs to be paid every year and is approximately $ 50 to 500 per year and may vary from state to state.
Systematic Professional Education for CPA: These fees is approximately $ 800 and increases up to $5000.
The primary roles and responsibilities of a CPA in India are:
CPA’s perform tasks such as book-keeping (Physical or technical), financial planning, advising, preparing government audits, recording of taxes, financial policies etc.
CPA’swork is to maintain the transaction history of the company.
They keep a check on the organization’s budget and financial management.
They suggest effective methods to save the capital of the firm.
To organize and audit transaction reports.
To implement monetary benefits.
CPA’s are also involved in the construction as well as nalysis of budgets
CPA’s are responsible for updating and applying with the firm new financial methods.
To update the management of tax consequences of business judgement.
CPA’s are involved in rectifying the errors, fluctuations caused by monetary activities and money and solving fraudulent activities.
They handle tax-related activities such as maintaining tax records, tax collection and on-time tax deposits.
CPA’s analyze ledgers and estimate the revenue
CPA’s also prepare the company balance sheet
They act as an advisory for asset safety, company benefits as well as compensations
With an increase in organizations, the requirement for CPAs has also increased. Since , their requirement has increased they are paid well. The minimum salary for a CPA is Rs 7.6 lakh per annum.
Indian graduates in any stream are eligible to apply for CPA.
CPA exam is conducted by the American Institute of Certified Public Accountants (AICPA), US. CPA is a single-level exam with 4 papers and is recognized in the US as well as globally. On the other hand, CA exams are conducted by the Institute of Chartered Accountants of India (ICAI) and is a 3-level exam with 16 papers.
Yes, CPA certification is recognized not only in India but also globally.
The minimum salary of CPA professional ranges between 7-8 lakh per annum
The difficulty level of the CPA exam is moderate, as there is flexibility in attempting the exam within a period of 18 months. Candidates can prepare strategically by paying equal attention to each section.
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Data are collected and examined to respond to questions, evaluate hypotheses or contradict theories. It is a tool for analyzing, transforming, modeling, and arranging data with useful knowledge, to assist in decision-making and methods, encompassing various strategies, and is used in different fields of business, research, and social science.
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Underwriters have strong analytical skills and they understand the insurance principle to evaluate the health of potential clients. They collaborate with agents, brokers, and to their clients to collect information and explain the insurance product details. They work on all kinds of insurance like mortgage, health insurance, life insurance, automobile, and several other kinds of insurance.
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A product manager develops strategies and plans to help the employees work towards a common goal that is to develop a product that the customers demand. He or she plays the role of the first point of contact in the organisation for anyone who needs to know about the product. Concerning larger programmes, they work with Technical Program Managers to deliver results.
Operations manager is tasked with supervising the financial and business experts involved in the production of goods and services. A career as operations manager needs to supervise many divisions and coordinate daily activities. The role of operations manager is to oversee and manage diverse activities which is part of a profession as an operations manager.
All levels of an organisation's operational activities are overseen by an operations manager. He or she is in charge of selecting candidates, imparting instruction, and managing quality control programmes. Operations managers also develop plans for process improvements to ensure that everyone finishes their work on schedule. He or she must regularly evaluate budgets, manage costs, and analyse data and statistics.
A stock analyst is an individual who analyses and evaluates various stocks and securities in the financial market. He or she in the stock analyst career forecasts stock market results, normally with an emphasis on the securities that a company or firm invests in. He or she also prepares scientific reports on financial forecasts, predictions, and recommendations based on a stock's expected profit.
Individuals who enjoy learning and data processing, are good problem solvers, and have a strong work ethic will excel in the stock market analyst sector. Students can pursue a BBA (Bachelor of Business Administration), MBA (Master of Business Administration), M.Stat (Master of Statistics) to opt for a career in stock market analysis
A Researcher is a professional who is responsible for collecting data and information by reviewing the literature and conducting experiments and surveys. He or she uses various methodological processes to provide accurate data and information that is utilised by academicians and other industry professionals. Here, we will discuss what is a researcher, the researcher's salary, types of researchers.
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A Quality Assurance (QA) Manager, synonymous with a Quality Assurance Manager, holds a pivotal role in ensuring products meet predefined standards. Responsible for planning, directing, and formulating control policies, the QA Manager safeguards company efficiency and profitability. By scrutinizing products for flaws and ensuring compliance with internal and external requirements, they uphold quality, validating the effectiveness of quality assurance teams in maintaining high standards before product release.
A quality controller plays a crucial role in an organisation. He or she is responsible for performing quality checks on manufactured products. He or she identifies the defects in a product and rejects the product.
A quality controller records detailed information about products with defects and sends it to the supervisor or plant manager to take necessary actions to improve the production process.
A Production Manager oversees manufacturing processes, ensuring timely and budgeted delivery of products. Responsible for safe, cost-effective production meeting quality standards, their role adapts to the production system. Also known as an Operations Manager, they manage human and material resources, contributing to efficient production and service delivery.
A product manager is a professional who determines what a product should do and how it should look like. A product manager analyses customer needs and combines them with company goals to develop a product that satisfies everyone. He or she works in coordination with different departments like engineers, salespersons, and product designers to ensure everyone works towards achieving the company's goals.
A product manager develops strategies and plans to help the employees work towards a common goal that is to develop a product that the customers demand. He or she plays the role of the first point of contact in the organisation for anyone who needs to know about the product. Concerning larger programmes, they work with Technical Program Managers to deliver results.
A QA Lead is in charge of the QA Team. The role of QA Lead comes with the responsibility of assessing services and products in order to determine that he or she meets the quality standards. He or she develops, implements and manages test plans.
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The Process Development Engineers design, implement, manufacture, mine, and other production systems using technical knowledge and expertise in the industry. They use computer modeling software to test technologies and machinery. An individual who is opting career as Process Development Engineer is responsible for developing cost-effective and efficient processes. They also monitor the production process and ensure it functions smoothly and efficiently.
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