What is CPA an exam?
Certified Public Accountant or CPA is the highest rank in the accountancy field in the world. American Institute of certified public accountants or AICPA organized this exam. AICPA is the world’s largest accounting organization. If students or any individual want to become an international accountant, CPA is the best choice for them. Every global accounting company hired people based on this score.
CPA is considered the maximum possible qualification in the accounting field.
Few benefits of CPA are provided below:
This is the best for CA, LLB, CS, MBA, and commerce students who want to be globally certified accountants. AICPA organized this exam and it is the largest accounting body across the world.
Ease and Flexibility:
CPA is an online-based examination. This exam contains only four papers. Anyone can pass this exam within a year of preparation.
Various career opportunities:
After passing this exam, a student can choose various fields in accounts to start their career. A student can choose Auditing Firms, Commercial banks, Investment banks, Private equity firms, and other accounts-related firms, says Keira, a senior counselor at Myassignmenthelp.
Improvement in academic qualification:
CPA and Indian CA is very similar qualifications in the commerce field. CA can get knowledge of US business laws and taxation. This is the best advantage of Indian CA students when they are working for US companies.
Mandatory for commerce students:
This is one of the crucial examinations for commerce students who what to build their career in the accounting field in the US.
The examination process and the licensing procedure for an international student are the same as a US candidate. There are few exceptions available for US candidates. Any CPA aspirant can get their license by appearing in this exam. Sometimes an international student or professional account expert needs to appear in an international qualification examination before CPA.
The application process of CPA is difficult than writing an answer in the paper. The CPA application process is a bit different than getting a CPA license. When students pass this examination with 75 percent, then they are eligible for the CPA license. After understanding every criteria for this exam, a student can apply for this exam.
Eligibility criteria for CPA exam:
To Appear in the CPA examination, every candidate must have few qualifications. The eligibility criteria of the CPA are exam are discussed below:
- Must have an MBA or equivalent degree.
- Candidates must be a member of Indian company secretaries.
- The candidate must be a master’s in the field Of commerce.
- To appear in the CPA exam, membership of the institute of cost and accounts in India is required.
- Candidates must be a member of the Institute of Chartered accounts of India.
Indian commerce students with a CA degree are acceptable in a few states in the US. Every state has different criteria. Every candidate must be graduate from a recognized university board. MBA in finance and a CA with B.com are eligible for enrolment.
To become a CPA, every licensing institution has its own eligibility criteria for ethics, experience, and education.
Minimum eligibility criteria
The minimum eligibility criteria to become a certified CPA degree is candidate must have a bachelor’s degree in English medium college with above 45% marks. The candidate must complete four papers within 18 months.
This test is computer-based and covers four sections. AICPA organized this exam twice a year. Candidate must score more than 75% to qualify for CPA certifications.
To appear in this exam, a candidate must pay $140.00 only for CPA applications. Apart from these fees, a student needs to pay $187.00 for attestation and audit, $140.78 for the business environment and business concepts, 175.44 for financial accounting and reporting, and $152.33 for regulation subjects.
A student needs to appear in four papers. The details of the four papers are discussed in this section. A student needs to answer 90 questions in the auditing and attestation papers. 72 questions in the business environment and concept paper. 90 questions in financial accounting and reporting and 72 questions in regulations.
Another important criteria for appearing in the CPA exam is candidates must provide their citizenship details. This is mandatory in several states. A candidate must be a US citizen to qualify for this exam. In Alabama, Hawaii, Louisiana, and North Carolina, states do not require citizenship for this exam. A foreign student easily appears from these states.
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