US Certified Public Accountant ( US CPA Course)
Gateway to work at USA
CPA Course: Become a Globally Qualified Professional with VGLD
Certified Public Accountant (CPA) is a globally recognized degree which opens doors for accounting professionals in the fields of
private equity firms, investment banks, accounting firms, auditing firms, hedge funds among many more. This qualification allows
one to practice as a licensed and certified accountant in countries such as Australia, Canada, USA, New Zealand among other
reputable places globally.
Full form of CPA is Certified Public Accountant and in order to become CPA certified, it is necessary to complete all the
qualifying examinations and work experience as detailed at CPA course details. It is highly recommended that individuals who are in
the process of preparing for CPA certification must undertake a CPA course in order to make their preparation more structured and
feel much more confident in their approach towards their examinations.
How to Prepare for CPA: Education Requirements of CPA.
While, CPA qualification requires a huge amount of commitment and dedication towards the course content and preparation, in order to become certified, with a
planned and structured approach, clearing CPA examinations is an easy task. The CPA course by VGLD provides study material by Becker and all the classes are
conducted by Experts who have established themselves in the field of accountancy and finance. The CPA course by VGLD provides online classes which are both
instruction based and self-paced, along with the added benefit of LIVE classes.
What is the CPA Exam Syllabus and Subjects-
The Certified Public Accountant examination involves four major subjects namely Financial Accounting and Reporting, Auditing and Attestation, Business Environment and Concepts, and Regulation. The CPA involves one examination which covers different topics of the above-mentioned subjects. There are different questions in the form of multiple-choice questions (MCQs), task-based simulations (TBSs) and written communication tasks (WCT), wherein MCQ hold 50% weightage and the simulations hold the rest 50%. It is a four-hour test with four sections as described below and an individual is required to complete all the sections in the 18-month testing window.
Following are the different topics covered under each of the four subjects in CPA examination along with their weightage.
| SUBJECT | TOPICS | WEIGHTAGE |
|---|---|---|
| Financial Accounting and Reporting |
Financial Reporting Select Balance Sheet Accounts Select Transactions |
30-40% 30-40% 25-35% |
| Auditing and Attestation |
Professional Responsibilities, Ethics and General Principles Assessing Risk and Developing a Planned Response Obtaining Evidence and Performing Further Procedures Reporting and Forming Conclusions |
15-25% 25-35% 30-40% 10-20% |
| Business Analysis and Reporting |
Business Analysis Technical Accounting and Reporting State and Local Governments |
40-50% 35-45% 10-20% |
| Information Systems and Controls |
Information Systems and Data Management Security, Confidentiality and Privacy Considerations for System and Organization Controls (SOC) Engagements |
35-45% 35-45% 15-25% |
| Taxation and Regulation |
Federal Tax Procedures, Professional Responsibilities and Ethics Business Law Federal Taxation of Property Transactions Federal Taxation of Entities Federal Taxation of Individuals |
10-20% 15-25% 5-15% 22-32% 23-33% |
| Tax Compliance and Planning |
Tax Compliance and Planning for Individuals and Personal
Financial Planning Entity Tax Compliance Entity Tax Planning Property Transactions (disposition of assets) |
30-40% 30-40% 10-20% 10-20% |
What all Exemptions are there in CPA?
Like all other accountancy examinations, there are many exemptions in the CPA exam as well. The following table describes the
exemptions in CPA
| QUALIFICATION | EXEMPTIONS |
|---|---|
| Final year CA/CMA |
1. Those who have scored more than 50 marks in the final examination are eligible for different paper exemptions for
the CPA course 2. If an individual has completed their CA/CMA degree they can get complete exemption from CPA examinations |
| Intermediate CA/CMA | 1. Those with this qualification can get exemption from first two subjects |
| Qualified CS | 1. Individuals with this qualification can get exempted from giving taxation and business law exams |
What are the Job Responsibilities of a CPA Professional?
The major job responsibilities of a CPA professional involve managing and planning the financial goals of organizations or individuals as a financial advisor. A certified public accountant mainly focuses on the following roles in organizations-
- Check for financial issues.
- Budgeting of projects
- Audit financial statements and publish them
- Ensure balancing of financial records and check for any discrepancies
- Create, organize and update accounting records
While these are only some of the roles and responsibilities that CPA professionals engage in, there are many other roles that they play in any organization.
What is the Salary of a CPA Professional?
The total salary package of a CPA professional depends on their experience, organization and skills. The starting salary package of CPA professionals is INR 10 LPA.
What to do after qualifying CPA: Exploring Careers after CPA Course
Certified Public Accountant qualification is one of the most reputable qualifications globally. While preparation for it involves a lot of commitment and time management, getting CPA certified can open avenues for limitless opportunities. One of the most common questions that individuals have after qualifying CPA is, what next?
There are many careers after CPA that an individual can pursue in the field of accountancy, finance, academics, not for profits etc., some of the career options have been listed below-
1. Public Accounting
- Budget Analyst
- Business Systems Analyst
- Tax Examiner
2. Specialist
- Internal Auditing
- Risk Assessments Officer
3. Government, Business and Not-for- Profits.
- Controller
- Staff Internal Audit
- Staff- Tax Accounting
- Financial Accounting & Reporting
4. Financial Advisor
5. Corporate Accountant
6. Finance Director
Top 4 Benefits of getting CPA Qualified-
There are numerous benefits of becoming CPA qualified, ranging from global recognition to upscale career opportunities. Following are some of the benefits of becoming CPA qualified
Growth Potential:CPA is one such qualification which provides various opportunities for growth in one’s field based on the versatile roles one can apply to.
Global Prestige and Recognition:Becoming a certified public accountant can increase one’s prestige and make them globally recognized because of the international nature of this qualification.
Variety of Career Options:From making a career in equity firms to getting employed in MNCs & Big4s, the CPA qualification gives an individual the choice to choose from a wide range of career options with a good pay.
Good Pay Package:The CPA qualification involves a one-time investment with good returns. If an individual gets CPA certified, they get good salary packages. A CPA professional on an average makes around INR 10-12 LPA, depending on their years of experience, skills among other things.
Conclusion
Certified Public Accountant (CPA) is a prestigious and reputable qualification that provides an individual with an opportunity to practice globally. It is under the direct authority and control of The American Institute of Certified Public Accountants (AICPA). This examination involves four subjects that are divided across the 1 paper that an individual is supposed to complete in the span of 18 months. Becoming a CPA qualified professional opens a path to careers in various fields of academia, consulting, MNCs, Big4s, not-for-profits, equity firms etc. Thus, given the nature of the examination, it is important to prepare well for the certified public accountant course with hard work, determination and consistency to achieve good results.
FAQs
1. For Examination- Graduation + Post Graduation (1 year)
2. For Licensing- Graduation + Post Graduation
For example- B. Com + M. Com, B. Com + MBA, B. Com + CA.
