SCOPE AND COST OF US CPA EDUCATION IN INDIA
SCOPE AND COST OF US CPA EDUCATION IN INDIA
Certified Public Accountant (CPA) is one of the highest degrees in the field of accounting worldwide. The American Institute of CPAs (AICPA), the world's biggest accounting group, administers the exam. Individuals who pass the uniform CPA US examination and meet the necessary education and experience requirements are awarded this certificate. It is a highly prestigious qualification that anyone may obtain once they make the decision.
Why do CPAs (Certified Public Accountants) need to be certified in India?
CPAs are accountants who are highly valued financial consultants for individuals and corporations because they help them plan and achieve their objectives. CPA is a profession that is internationally recognized. CPAs not only understand US GAAP, but they can also add credibility to financial accounts in ways that CAs cannot. CAs are Chartered Accountants, and initially, all new multinational firms in India hired CAs, but when it became difficult for them to keep up with changing standards, they began training CAs to be CPAs. So, even after four years of study (the time it takes to become a CA), CAs were doing the same job as CPAs.
CPA US is currently in great demand in many US corporations due to a rise in Finance and Accounting outsourcing to India. US firms such as the Big 4 (Deloitte, WC, EY, and KPMG), and even multinationals such as Amazon require CPAs regularly.
CPA US EXAM FROM INDIA
The goal of holding the US CPA exam keeps Indian CPA hopefuls from having to travel internationally during this uncertain period. The decision relieves Indian students of the hassle of travelling to nations such as Dubai and the United States to foster CPA Examinations.
CPA USA exam applicants are typically tested at test sites in India beginning in January. In addition, candidates may begin using the scheduler in November. Except for waiting for marks from previous tries of the same part or where there is a major change to the exam, CPA applicants can take the exam sections without limits. Continuous Testing will replace the current limited CPA Exam Testing Window system, which allows applicants to test in India only during specific periods.
CPA USA course fee in India:
There are three major fees associated with the CPA US course: evaluation fees, exam fees, and travel fees. Now that it has been confirmed that the CPA US exam would be held in India, students will be able to save a significant amount of money on travel expenses. The CPA US exam costs $1000, while international testing costs $1500. Furthermore, with a $225 evaluation charge, the whole CPA exam costs INR 220,000 without a training fee. Becker's training prices range from INR 1.3L to INR 1.57L, depending on offers.
Scope of CPA USA in India:
The CPA US course provides you with in-depth knowledge of subjects such as US GAAP, US Tax, and US Audit. As we all know, numerous multinational corporations in India that are desperate for CPAs and are eager to hire them. After considering all of this, we can conclude it is a great option for India graduates to obtain certification, allowing them to earn a lot of money while also gaining international recognition and, of course, tremendous respect.
When it comes to earning a CPA degree, Indian CAs also have an advantage because they already possess the necessary information and abilities. All they need to do is clear CPA USA examination to obtain their licence.
CPAs have a multitude of work choices, and as their expertise level grows, so will their earning potential. The CPA US designation is widely recognised around the world, and its application is not restricted to India or the United States. As a result, various divisions of US-based multinational corporations (MNCs) in India are hiring Certified Public Accountants. CPAs in India are also competent in international financial accounting and corporate governance. As a result, CPAs are hired for various roles within the financial services organisation. As a result, the scope of CPA USA in India is greater, and organisations actively seek Certified Public Accountants.
A CPA USA can pursue a variety of employment paths, including:
Financial Accounting
Financial Accounting CPAs can play an important role in financial accounting by preparing and analysing balance sheet accounts, such as inspecting where the organisation is utilising funds and where they are overspending.
Corporate Finance
CPAs can be an important part of the Initial Public Offering (IPO) or Further Public Offering (FPO) because they understand the accounting implications and acquisition considerations. Furthermore, because they understand the accounting aspect, CPAs can advise management on the company's strategic decisions.
Information Technology
IT accounting combines standard accounting concepts with information systems to save an organization's financial data. CPAs are essential for this audit because they have accounting skills, and one could even specialise in IT audit.
Financial Advisor
CPAs also act as financial counsellors for individuals, making informed financial decisions on their behalf to assist them in managing their money connected to property purchases, setting up a business, and retirement planning.
Management Communication
A company's management typically hires CPAs who understand the industry and can make conclusions and warn the administration about specific changes or uprisings.
Wealth Management & Taxation
Generally, businesses budget for taxable income and forecast revenue to determine the taxes they will have to pay in the end. CPAs can do this properly and advise the corporation on tax issues.
Director of Finance
Finance directors, sometimes known as directors of finance, are in charge of all financial activities, including revenue reporting, training accounting employees, budgeting, disbursing cash to departments, risk management, policy implementation, and financial process improvement.
Internal Auditing
Internal auditing is a consulting practice and objective assurance that adds value and enhances a company's financial operations. Internal auditors employ best practices to efficiently control and manage risks.