About CPA Course -
- CPA stands for Certified Public Accountant.
- Is a license issued by one of the 55 states or territories of US – which authorize holder to practice as a certified public accountant in that jurisdiction. It is designed by AICPA (American Institute of CPA’s) and NASBA (National Association of State Board of Accountancy, USA) to ensure only qualified individuals become CPA’s. The program which is similar to Chartered Accountancy program in India, is designed to ensure that only qualified individuals become CPA’s, equipping the individuals to have a thorough knowledge of Accounting principles of US
Levels in CPA -
- The Qualification has been divided into just 4 Subjects Only
Eligibility criteria to appear for CPA -
- To appear for the CPA course examination a candidate should have -
- Most Indian B.Com graduates are eligible to take the CPA exams
- 120 Credits for US CPA Exam & 150 Credits for US CPA License
- General Rule:
- Every year of university education in India is equivalent to 30 semester credits of US education.
- Using 1 year = 30 credits, B.Com = 3 years x 30 credits = 90 credits
- Exception: If B.Com is completed in 1st division from a NAAC ‘A’ university, the 3-year B.Com would be treated as 4 years of US education, i.e., 120 credits for B.Com alone
- B.Com + M.Com/MBA = 90/120 credits + 60 credits = 150/180 credits
- B.Com + CA/CS/CWA = 90/120 credits + 60 credits = 150/180 credits
Average duration of course :
It takes 1 to 1.5 years to complete all the exams of the CPA course.
Syllabus :
The Qualification has been divided into 4 Papers :
- BEC - Business Environment & Concepts
- AUD - Auditing & Attestation
- REG - Regulation Applied Skills [Advanced Diploma]
- FAR - Financial Accounting & Reporting
Passing criteria and exam pattern :
- Objective pattern – FAR / AUD / REG = 100% objective & BEC = 85% objective
- Passing score of 75 on each part (on a scale of 0-99)
- Global Pass Rate > 45%
- FAR / AUD / REG / BEC are computer based exams (‘CBE’) and can be taken at any time during the year
Scope of this course will be :
- Auditing
- Financial & Cost Accounting
- Taxation
- Management Accounting
I hope this information was helpful
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