CPA in simple words is equivalent to Chartered accountancy of India. US Chartered accountants are known as CPAs.
The acronym "CPA" stands for Certified Public Accountant. As per the latest news, the CPA exam will be in India every month from 2021 - Continuous Testing Window stating now exams can be written in the same month even if the candidate has failed in that month for that exam.
CA students for a long time have been looking for an additional course along with CA so that they can have a back up considering CA course is one of the toughest course in the world, the entry of US CPA course to India is exactly the option they could be looking for as CPA exam is shorter in duration and could be completed in 10 months itself. Please note the previous US CPA course and exam could be written only in the US and Dubai adding up more 1-1.5 lakhs cost, now with the exam in India - the course will be a favorite among all students.
US CPA course details:
1. Single level Exam consisting of 4 parts - Financial Accounting and Reporting (IFRS, US GAAP), Business Environment and Concepts (BEC), Auditing ( AUD), Regulation ( US taxation)
2. 50% MCQs, 50% Simulation (Case law-based)
3. Computerised exam with no negative markings
4. Minimum Passing percentage- 75%
5. No articleship
The CA pass rate is 10%, whereas the CPA pass percentage is almost 55% indicating that the exam is not tough like CA and could be well managed along with CA.
Disadvantage:
The CPA exam is expensive consisting of almost 3.25 lakhs INR with Training, exam fees, and application fees.
Why CPA is right for CA students:
As we see many US companies are in India - Deloitte, KPMG, EY, PWC, BDO, Genpact, Amazon, Accenture, Google, FB, Standard chartered and the list goes on and on, so the job opportunities are increasing more due to pandemic as many US companies have been outsourcing their operations in India and this could mean more jobs for US CPA and being a globally recognized qualification, a CA+ CPA or CPA along with CA semi-qualified would be a right approach to shift to industry and get great exposure.
During this pandemic also, we have been observing a lot of hiring from Deloitte, EY for US CPA and this important step by AICPA for bringing exams in India can be a blessing in disguise for CA students who can definitely posses an additional qualification along with CA.
About Simandhar Education
Simandhar Education is the official partner of Becker and channel partner of AICPA - Largest Training provider for US CPA, US CMA, IFRS and EA courses in India.
Learn how to clear your CPA exams with extremely satisfying results by getting proper guidance and knowledge through our online courses and video tutorials taught by industry Experts. We're here to provide you with all the help that you need in order to ace your CPA, CMA exams.
Also read - CPA exam in India every month from 2021
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