Planning to Join for CPA?


CA Final

Hey guys & gals,

I don't know if it is just me but it seems there is lot of confusion going around with regards to CPA from US. I am CA student who is in the last 2 month of articleship and still not been able to clear PCC. Cleared my first group in the first chance but CFM has been a pain with no gain. It might have been due to over confidence at the beginning with regards to costing that I didn't go for any coaching (Costing was my fav. sub in Degree). But at the end inspite of 5 trials I have been unable to clear PCC. My morale is down the drains and what I hope for is a change. Don't want to abandon CA after spending 4 years for it. So was just pondering over my other options and first one that came to my mind is CPA. Will never say that CPA is easier than CA or is of more value. But what attracts me is that it will help me take my mind off from the current defeats without shifting me away from the final goal I have set. After thinking of CPA, I turned to my most trusted source of information, the internet. Though, it is filled with information, my confusion just increased. Got to tell you though, that the best source of information for me have been www.caclubindia.com and http://ipassthecpaexam.com. I searched for the CPA coaching centers in Kerala and it was shocking to find that the search only returned Logic, while New horizons was a paid ad. I never trusted paid ads and that might be the reason why I didnt give a second look. Logic office was actually not so keen on CPA but rather on CMA which made me lose faith in them. It was through CCI that I actually heard about New Horizons and was able to locate the Kochi office.

I scheduled a meeting with the New Horizon Kochi office and I was informed that the total cost for the whole course (Including material from Becker, coaching, visa, ticket, stay and other expenses) comes upto Rs. 2.10 Lakhs. Which though in no way is low but may be justifiable. The office informed me that they provide $ 200 discount if I register before 10th June, 2011 which is the batch for the Dec, 2011 testing window. They say that the faculty are all CPA qualified and are having the license to practice. When I asked them about my eligibility to appear for the CPA exam, she said that no university from Kerala qualifies for the 120-150 hours credit hours in Accounting for B. Com and hence they make us write an exam to get the needed eligibility. Also she claims that the starting salary for a fresh CPA in India is in the range of 65K/pm which I find more that that of many CA's which makes me wonder if I am being duped. Also the work experience criteria can be met by working in India under the supervision of a licensed CPA. The assurance I got from them was that they provide free coaching even if the a student fails based on his merits and his desire to crack the CPA, which I felt was justifiable though unquantifiable.

As I said earlier, CPA is not in place of CA but rather just a change and in its own way bring money and confidence which I seriously lack right now. So earnings of CPA, the difficulty of the course, the confusions, the obstacles are a cause of a problem. I don't have many to turn to for advice and it is with this reason that I write this post where you might not find anything new, but rather just the details of my experience. I don't know much about the Becker Course (which I read in a review is boring) or for that matter any other course.  I hope I will be enlightened by all those who care to comment.

Thanks in advance and regards,

Ashish


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Hey Ashish,

 

In my opinion, CPA is not very useful in india and it will be easier afer completing CA as some papers will be exempt. For CPA, u need to travel back to USA for appearing in the exam and fo that u need visa which is not at all a easy thing to get in india. So, In my opinion, select some other easier and short courses like CFA (from USA) (Exam will be consucted in india and having a good reputation in finance industry, infact sometimes considered equivalent to CA) or CS, or CWA, ACCA (UK) or if your mathematics is good then u should go for MBA from premier institutes (best option but tough one).

Please make sure about the visa, before applying for CPA.  I am in UAE and here they treat ACCA equivalent to CA and it is eas as compared to indian CA.

 

Regards

 

Amit Jeswani (AMITJESWANI31 @ GMIAL.COM


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CA Final

Thanks Amit for your advice. But there are certain points on which I feel different, like exemption for CA in CPA exam, which I guess are not present for the time being. Also CFA as far as I know is a 3 year course which makes it a long course and not a short one. Regarding the Visa and the travel yes it might be a cause for concern.

With regards to ACCA I didn't know that it had the same value as that of CA in UAE. All other options you suggested are really worth a lot of thinking. But regarding MBA from a premier institute, I find it hard to explain 4 years of discontinuance in education without any addition to my CV even if I clear the entrance exam which in itself is a long shot. Anyways your suggestions would help in facing the problem at hand and thanks again.

Regards,

Ashish

 
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Well, I heard from the street that for qualified CA's the 12 papers are exempt and then only 4 are left.  I am pursuing CFA and find it a easy as compared to CA. And never the less two level's are option type. If you clear one level in dec then next one will be in June and third one will be in next june. So, practically its a two year course. Just check the review of persons on ghemant vashishtha group on yahoo.I wrote their that MBA is the toughest option but the better one.

 
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CA Final

Dear Amit, there are only 4 papers in CPA and there is no exemption for qualified CA's. Regarding CFA thanks for the info and I hope to do more follow ups.

Regards,

Ashish

 
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Financial Assistant

Dear Ashish I am also a CA Finalist and I am planning to prepare for CPA after CA. I support the decision you have taken. CPA gives you required platform to face the world confidently. Good Luck. :)

 
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well i must appreciate your effort and i will also take your side that you should do CPA because through it you could a lot of jobs easily with a big salary amount so do it wth your full concentration then i hope you will find job easily

French translation in Pakistan

 
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CA Final

Dear Rahul and Umaira,

Thanks for the support. I cleared PCE this time. I never expected to clear. It is a miracle. Now I am in another dilemma, I dont know how to write final. I mean CPA and CA final together is not easy (I feel its impossible). But I already paid over Rs. 100 k for CPA coaching and books. Confused.

Anyways hope for advices and suggestions.

Regards,

Ashish

 
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Hi,

I want to pursue cpa from usa & i hav done B.com(H) from Delhi University through correspondence.I would like to know how should i proceed with it.how should i get registered...?Which state would be suitable...?Is coaching a better option...is online coaching good...?I would be very thankful if anybody could advise n help in on this....


 
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CA Final

Hi Sriji,

I don't know whether B.Com(H) from DU is valid degree in the US. Anyways educational credit valuation has to be done. You maybe aware that the credit for accounting should be from 120-150 hours depending on the state. Generally the Indian degrees qualify for only 90 hours credit. But as I said it changes based on university. The most preferred states for non US students are Colorado (120 hours credit) and Delaware (associate degree is enough). But I would suggest that you actually join some coaching centre. New Horizon is the only provider of Becker Review course in India. I just started with the course so am not in a position to comment on it. It will be expensive as compared to the other method. But I guess adequate coaching is required to write an exam such as CPA as the course is vast and in many ways different from what we are used to.

Also they provide certification for additional credit hours to become eligible. It is issued from Morgan University in US. So all in all I guess professional service is a good thing as the whole process is confusing and a bit too time consuming.

In case of any more queries please feel free to contact, Also I invite valuable suggestions from any one who might be interested. Anyone with CPA are requested to share their experience if they so please.

Regards,

Ashish

 
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