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US Certified Public Accountant ( US CPA Course)
Gateway to work at USA
CPA Course Fees in India and Exam Fees
Introduction
The reputed and highly regarded Certified Public Accountant (US CPA) is a licensed qualification that gives an opportunity and allows one to become a certified accountant globally in countries such as Canada, Australia, USA, New Zealand among other reputable places. This qualification comes under the jurisdiction and authority of American Institute of Certified Public Accountants (AICPA). The US CPA qualification ensures placements with the top MNCs & Big4s in the world. One can apply for the US CPA qualification once they meet the minimum eligibility criteria and are passionate about making their career in the field of accountancy
US CPA Course Fees
The US CPA course fees vary a lot based on whether you are taking the exam from the US or outside of the country. It also depends on the US state you are registering in.
The CPA course includes four major subjects which are as follows-
- Auditing and Attestation (AUD)
- Financial Accounting and Reporting (FAR)
- Business Environment and Concepts (BEC)
- Regulation (REG)
| Examination & other Fee | IN USD ($) | IN INR |
|---|---|---|
| Evaluation Fee | $225 | ₹18,394 |
|
Exam Fee (& 833.60 Uniform CPA Exam Fee + $1000 NTS Application Fee + $245) SBA Registration Fee + $1484 International Testing Fee |
$2661 | ₹2,17,537 |
| Total Exam Expense | $2886 | ₹2,35,931 |
| CPA Total Cost including VGLD Fee | $5385 | ₹3,52,931 |
US CPA Eligibility Criteria
The eligibility criteria for this examination can vary from state to state in which you are applying.
There are some strict rules and regulations regarding where and how one can apply. There are only
five states that an individual can apply to be a US CPA from India, they are as follows-
- Washington
- Pennsylvania
- Guam
- Alaska
- Montana
The US follows a credit-based system for academic evaluation, as a result of which one needs a set number of credits in academics in order to be eligible. The basic eligibility criteria for Indian students for US CPA is as follows-
- For Examination- Graduation + Post Graduation (1 year)
- For Licensing- Graduation + Post Graduation
For example- B. Com + M. Com, B. Com + MBA, B. Com + CA.
CPA Exam Pattern
The Certified Public Accountant examination involves four subjects that tests one’s knowledge and
expertise of basic concepts of accountancy, taxation, auditing, corporate governance, information
technology, business laws and finance. These examinations demand rigorous preparation and
clarity of concepts in order to achieve a high score and clear them.
The exam has 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 is the pattern of the US CPA examination
| Subjects | Number of questions |
|---|---|
| Financial Accounting and Reporting (FAR) | 90 |
| Auditing and Attestation (AUD) | 90 |
| Business Environment and Concepts (BEC) | 72 |
| Regulation (REG) | 72 |
| Content | Weightage |
|---|---|
| Conceptual Framework, Standard-Setting and Financial Reporting | 25- 35% |
| Select Financial Statement Accounts | 30- 40% |
| Select Transactions | 20- 30% |
| State and Local Governments | 5- 15% |
Question pattern
66 multiple choice questions (50% weightage) & 8 short task-based simulations (50% weightage)
| Content | Weightage |
|---|---|
| Ethics, Professional Responsibilities and General Principles | 15- 25% |
| Assessing Risk and Developing a Planned Response | 20- 30% |
| Performing Further Procedures and Obtaining Evidence | 30- 40% |
| Forming Conclusions and Reporting | 15- 25% |
Question pattern
72 multiple choice questions (50% weightage) & 8 short task-based simulations (50% weightage)
| Content | Weightage |
|---|---|
| Ethics, Professional Responsibilities and Federal Tax Procedures | 10- 20% |
| Business Law | 10- 20% |
| Federal Taxation of Property Transactions | 12- 22% |
| Federal Taxation of Individuals | 15- 25% |
| Federal Taxation of Entities | 28- 38% |
Question pattern
76 multiple choice questions (50% weightage) & 8 short task-based simulations (50% weightage)
| Content | Weightage |
|---|---|
| Corporate Governance | 17- 27% |
| Economic Concepts and Analysis | 17- 27% |
| Financial Management | 11- 21% |
| Information Technology | 15- 25% |
| Operations Management | 15- 25% |
Question pattern
62 multiple choice questions (50% weightage) & 4 short task-based simulations (35% weightage), written communication (15% weightage)
CPA Fees in India
- Auditing and Attestation (AUD): $224
- Business Environment and Concepts (BEC): $224
- Financial Accounting and Reporting (FAR): $224
- Regulation (REG): $224
International Testing Fee-$1484
Evaluation Fee- $225
Overall, the cost of pursuing CPA in India would be INR 3,00,000 approximately.
Steps to becoming US CPA
The following steps are to be completed in order to qualify the US CPA examination.
Eligibility
Evaluation
Preparation
Examination
Exam Booking
License
Eligibility
The first step towards becoming US CPA qualified is checking if you meet the minimum eligibility criteria for appearing for the examination. While the eligibility criteria can vary US state to state, there is a basic criterion that needs to be met for individuals applying from India. It is as follows-
- In order to be eligible for examination- Graduation + 1 year of Post-Graduation.
- In order to be eligible for license- Graduation + Post Graduation
Evaluation
Once you are sure about meeting the minimum eligibility criteria for the US CPA examination, you are required to move ahead to the evaluation and registration process. Following are the steps to be followed in order to complete the initial process once you enroll with the VGLD US CPA course-
- State board allocation (jurisdiction) is done by the VGLD team.
- The online application is submitted with the evaluation agencies for the foreign credential evaluation.
- Once the above steps are completed, the documents are then submitted to the evaluation agency.
After completing all the evaluation steps, the individual can then proceed to complete their registration process-
- First step of the registration process involves submitting all the necessary details about accounting education and designation to relevant authorities.
- Once all the details have been submitted, an individual gets an Authorization to Test (ATT)
- ATT is valid for 90 days; hence one must pay their examination fees in that exam window of 90 days. After this an individual receives the Notice to Schedule (NTS).
- Once NTS is received, an individual can go to the Prometric website and schedule their exam and choose the date and time convenient for them. Usually, the exam is taken in the months of January, February, April, May, July, August, October and November.
Preparation
This is one of the most important steps of the US CPA exam journey. This step involves a lot of motivation and commitment to enhance one’s chances to clear this examination and become a certified US CPA professional.
The US CPA course by VGLD is a well-established and thought-out course which provides study material by Becker. All the classes at VGLD are conducted by Experts from the domains of accountancy and finance. The US CPA course by VGLD provides online classes which are instruction based and self-paced along with the benefit of LIVE doubt classes.
An individual who is a US CPA aspirant must do their examination preparation using the resources provided and take regular mock tests.
Examination
After preparation comes the important step of filling the online application form for exams and completing examination booking. Once an individual is closer to their examination date, they must focus on revision and stay calm and composed while doing their preparation.
The experts at VGLD provide a customized study plan and timeline for everyone who enrolls in their US CPA course, thus ensuring proper preparation and completion well before time, giving ample period for revision.
License
After the examinations have been cleared and an individual has work experience, they are required to apply for the Ethics examination which is one of the important aspects of this qualification. Once the Ethics examination is completed, one is required to proceed ahead with their document filing with the state board of US wherein the document checking is done thoroughly.
Every state board has the permission and power to grant a CPA license. In order to get this license, one is required to meet all the specifications of the state board including Education, Experience and Examinations.
Conclusion
ACCA or The Association of Chartered Certified Accountants is one of the most respectable
qualifications in the world. It is a global qualification which is recognized in more than
180+ countries. Becoming ACCA qualified gives one an opportunity to network with individuals
around the world and contribute to the field of finance and accounting. This qualification opens
doors to various reputable careers in the fields of finance and accounting.
In order to become ACCA qualified, one must pass the three levels of ACCA course which
includes 13 papers and practical experience requirements. After this, an individual can become a
member of the ACCA community by applying for membership.
FAQs
1. In order to be eligible for examination- Graduation + 1 year of Post-Graduation.
2. In order to be eligible for license- Graduation + Post Graduation
