Introduction

US CPA, is certainly one of the world’s most sought-after accounting  designation, if not the most. Given the dominance and size of US economy, there is a natural progression of opportunities linked to it. Out here, we will look to clearly understand the benefits of doing US CPA & career opportunities arising consequently. 

Benefits of doing US CPA

• Esteem, Pride  – Today’s and upcoming generation are always on a lookout for thrill, adventure and challenges. They want to stand-up on their feet, create a self-image which is well-respected in the society. Doing US CPA is a perfect platform for achieving this as obtaining any international degree is not everyone’s cup of tea. World across, a US CPA holder is met with high respect and admired by peers alike.

• Ease & Fast to complete – With 60% of credit requirements already achieved out of a usual Commerce graduation, students can place maximum focus on their preparation for examinations. With right guidance and scheduled timetable, students can look forward to clear all the four papers within just 18 months compared to multiple years in other accounting  degrees.

• Visa to International Residency - With the ever-growing push for globalization, MNCs companies are always on the lookout for employees with international degrees, certifications. Employees with US CPA stand a better chance to work on international assignments and even global mobility as employers look to reward their best employees in an enriching manner.

• Increased Opportunities – Given the size and spread of US-based companies across the world, there is a natural demand created for candidates having US CPA degree. These companies have set up their branches, subsidiaries to mark up their international presence resulting in increased opportunities for locals out there.

• Global Recognition – AICPA/NASBA have entered into Mutual Recognition Agreement (MRA) with multiple advanced economies to ensure global recognition to US CPA holders. This means that a US CPA certified can practice in another country without having to re-qualify for local examinations and vice-versa. Below is a quick snapshot on the countries wherein a US CPA is allowed to freely practice:

• Canada

• Australia

• Hong Kong

• New Zealand

• Scotland

• Ireland

• South Africa

• Mexico

• Monetary Benefits – A US CPA can easily look forward to earn an increased salary of almost 30-40% over any other accounting professional given the demand and respected accorded to this degree. Plus, given the international opportunities tagged to this certification, the monetary value can easily increase multi-folds depending on the country one is based out of. 

Career Opportunities

With growing globalization and cost benefits, many multinational corporations (MNCs) have set up their accounting & technical base in India in the form of service centers, shared services, centers of excellence. This includes Wall Street Giants like JP Morgan, Goldman Sachs, Citigroup etc. You name it, and you will more likely than not find their accounting teams in India This, thereby, opens up a plethora of opportunities for candidates who have knowledge of International Accounting Standards and Principles like US CPA. Notably, almost 25% of Global Fortune 500 companies are US-based. So naturally, the demand and opportunities for people with knowledge in US GAAP is immense.

In terms of the actual career options, below are some of the exciting ones one can get into post CPA qualification:

• Assurance Services

• Foreign Accounting

• Business and Management Consulting

• Internal and External Auditing

• Consulting Services

• Tax and Financial Planning

• Advisory services like tax, transaction (M&A) etc.

• Forensic

Some of the broader teams/department one can look forward to be a part of post qualification:

• Controllers

• Tax

• Mergers & Acquisition (M&As)

• Consulting

• Internal Audit

• Trading Operations 

• Risk & Compliance