The CPA Eligibility Criteria for Indian Students
TABLE OF CONTENTS
- Introduction
- Understanding the US CPA
- Eligibility Requirements for US CPA Candidates
CPA Eligibility for Indian Students
CPA Scoring Pattern
The Exam Pattern - CPA License in India—a Game Changer
- FAQs
- Conclusion
INTRODUCTION
In the field of accounting, a Certified Public Accountant is one of the most prestigious designations for years and years. The American Institute of Certified Public Accountants or AICPA is the institution that conducts the exam. To be eligible and obtain the CPA license, candidates should pass all four exams. The widespread availability of the CPA exam to students not just in the United States but in India, in particular, has resulted in a gigantic rise in the number of CPA aspirants lately.
So, what then are the CPA licensing requirements? What are the CPA exam requirements for international students? In the highly globalized world nowadays, the US CPA designation is tremendously regarded and sought after by accounting professionals worldwide. Indian students, too, aspire to pursue a US CPA license to boost their career prospects and gain international recognition as well.
UNDERSTANDING THE US CPA
The US CPA is a professional certification offered by the AICPA. It validates the knowledge and skills needed to excel in the finance and accounting industry. Since it’s internationally recognized, it certainly opens up a multitude of career opportunities, such as lucrative positions in top accounting corporations, firms, and financial institutions.
The globalization trend paves the way for multinational organizations looking for accountants with diverse cultures and backgrounds who could offer insight into business practices and operations. Thus, while a lot of accountants may have mastered the principles of accounting in one country, they can continue to widen their horizons and income by mastering US accounting principles since it’s deemed a universal accounting qualification.
ELIGIBILITY REQUIREMENTS FOR US CPA CANDIDATES
To pursue a US CPA certification, Indian students must meet the CPA licensing requirements of the respective accountancy state boards. The following are prerequisites to become a US Certified Public Accountant.
- Master’s Degree in any of the fields of Accounting, Commerce, or Finance. In some instances, first-division graduates of a 3-year degree from NAAC-A accredited universities in India also qualify to take the exams.
- B.com in any university or college as well as qualified CA/CMA candidates.
- Any college of university B.com degree and CA IPCC Cleared candidates.
- Accounting and finance post-graduate professional certification.
- Valid international passport
In India, 55 states are members of NASBA or the National Association of State Boards of Accountancy. Candidates with a bachelor’s degree from NAAC in commerce and first division are eligible to take the exam.
Moreover, candidates should have 120 college credit hours. A general bachelor’s degree also works fine, but an accounting, business, or related field degree helps a great deal.
CPA Eligibility for Indian Students
1. Education
Indian students must pass graduation in accounting and commerce. They should also complete additional accounting coursework as well as other related subjects. The courses cover financial accounting, auditing, taxation, business law, and management accounting. Knowledge in these areas reinforces the foundation required to pass the CPA exam.
2. Work Experience
CPA aspirants should have acquired relevant work experience under the supervision of a licensed certified public accountant. The specific requirements may vary, but in general, candidates should have at least one to two years of full-time work experience in an accounting role or any relevant finance job.
3. Examination
Students must pass the Uniform CPA exam administered by the American Institute of Certified Public Accountants. The exam has four parts that test the student’s knowledge of accounting, taxation, and auditing.
CPA Scoring Pattern
The exam score ranges on a 0-99 scale. At least 75 correct answers out of 99 are required for a CPA aspirant to pass. For the FAR, AUD, and REG sections, the weighted combination scores come from multiple-choice and task-based simulation questions. On the BEC part, the weighted scores come from the combination of the multiple-choice questions, task-based simulations, and the written communication tasks scores as well.
The Exam Pattern
These are the three core CPA Exam sections:
- AUD or the Auditing and Attestation
- FAR or the Financial Accounting and Reporting
- REG or the Regulation
These are the three discipline CPA Exam sections:
- BAR or Business Analysis and Reporting
- ISC or Information Systems and Controls
- TCP or Tax Compliance and Planning
Indian students must submit an online application to initiate the registration process. Moreover, the necessary documents should also be submitted to NASBA or the National Association of State Boards of Accountancy for assessment. Candidates, after their CPA eligibility is determined, can proceed to register and pay the exam fee
CPA LICENSE IN INDIA—A GAME CHANGER
The CPA License is not just respected and highly recognized worldwide; it carries so much clout in India as well. A CPA license could indeed catapult you into a wide range of opportunities and benefits.
1. Salary Boost
The most tangible benefit that the CPA license brings is a potential salary increase. The accounting profession in the country is developing at an amazing pace, and thus, there is great demand for certified public accountants, and very much reflected in the amount of compensation on offer for professionals.
2. Senior Roles
Often, a CPA license is a prerequisite to senior accounting and finance roles, especially in giant firms and multinational corporations. Without the CPA credential, even highly experienced professionals would find it difficult to advance to higher senior levels.
3. Diverse Career Paths
Being a CPA opens a host of opportunities in almost any industry. If you have a license, you can work in corporate finance, public accounting, forensic accounting, or consulting. Moreover, it can help you gain prominence in the field. In terms of global recognition and flexibility, the CPA license will carry Indian professionals to greater heights within India and even overseas.
4. Secure Job
In today’s very competitive and uncertain job market, CPAs continue to thrive. Certified public accountants are in demand in businesses, particularly in times of financial uncertainty when correct compliance and reporting are paramount. With the growing demand for CPAs, license holders have more chances to be promoted or retained in case of organizational changes.
5. Professional Independence
When it comes to professional independence and freedom, certified public accountants have an edge over other professions. Certified public accountants could provide consultancy services on their own or join an accounting firm. The knowledge and skills required are extremely useful tools for professionals who lean toward business leadership. Moreover, they serve as robust credentials and foundations for future business owners and entrepreneurs.
6. Keeping Abreast with Globalization
With multinational organizations operating more and more on an international scale, the demand for international accountants and CPAs is also growing. Business organizations are on the lookout for accountants with different cultural backgrounds to help them get insight into their business practices and operations.
FAQs
Q. How much will it cost me to do a US CPA Exam in India?
Ans. Including the registration, training, evaluation, and exam fees, the average cost would be around 3.5 to 4 lakhs. Moreover, for an exam taken outside the United States, an international testing fee applies.
Q. Can I do CPA right after graduation?
Ans. This is not possible. For an Indian candidate, you need to have a bachelor’s degree and should have passed a one-year post-graduate course since the exam has 16-year education criteria.
Q. What are the job opportunities of a CPA in India?
Ans. When you’re a licensed CPA, you can apply for jobs such as finance director, tax manager, chief executive officer, financial controller, chief financial officer, internal audit director, chief audit executive, and many more related jobs.
Q. How much does an Indian CPA earn?
Ans. The Indian accounting is a dynamically thriving landscape. Enticing salaries await you. The salary could range from INR 6 Lakh to INR 10 Lakh.
Q. Is there a time limit to the CPA examination?
Ans. Yes. You need to pass all the exam sections within 18-30 months. Otherwise, you have to start over again and reappear for all the sections.
Q. Is a CPA certification worth it in India?
Ans. Embarking on a US CPA course in India indeed has many advantages. You can acquire a global qualification, unlock worldwide opportunities, and boost your career prospects.
Q. Can I do CPA at 30 or older?
Ans. Age is not a detriment to pursuing a CPA license. The key is to focus on meeting the eligibility requirements and beginning your journey toward becoming a certified public accountant.
Q. Is the Certified Public Accountant exam available in a language other than English?
Ans. No. The CPA exam will always be offered in English.
CONCLUSION
For Indian students, pursuing a US CPA license opens up a world of opportunities. Certified public accountants enjoy great demand in today’s market because of globalization. As technology continues to evolve, borders have been crossed, providing more chances to boost career growth not just locally but internationally as well. There is always a great demand for CPAs to fill executive roles in huge industries. If you want to join the exciting career path of certified public accountants, there are many CPA review courses to prepare you and help you confidently pass the exam.