USA CPA(Certified Public Accountant)

The No.1 Chartered Accounting Designation in the world.

Training Programme

Certified Public Accountant Highest accounting qualification in the world

similar(but higher) to CA qualification in India American Institute of Certified Public Accountants

(AICPA) conducts the examination AICPA is the highest Accounting body of the world Member base of AICPA is in more than 126 countries AICPA has Refused to sign MOU with ICAI

What is CPA?

More than 45 % CFOs of the world hold the CPA qualification Starting salary of 70k USD in North America (90k if you have

an M Com) MOUs with all leading accounting bodies of the world (ACCA,

ICAA, CPA Australia, CA Canada) Highest recognition in the middle east market Migration to countries such as Australia & Canada becomes a

lot easier with US CPA Starting salary of 7-10 Lakhs in India

Other Facts about CPA

The Process

Completion time of 6-8 months 100% employability within 3 months of completion Starting designation of Consultant/Senior in Fortune

100 Companies Expertise in US GAAP (10000 pages document and

most complicated GAAP of the world) With IFRS convergence due in India, USA is going to

Rule virtually

Why CPA

Real life case based exams (unlike Indian pattern) Cost of appearing again is 2-3 Lakhs Technical expertise required for solving simulations Most of Questions are not from any question bank

(unlike CA , CS etc) Passing % is 75 marks, thus more expertise is needed Visa process is also complex

Why us

Thorough analysis of entire technical matter Solving of real exam questions (unlike all other CPA

classes in India) Mock exams of actual length and intensity More emphasis on solving exam questions and thus

result oriented preparation Guidance on how to complete CPA along with Indian

CA or other professional Indian courses

Coverage in the class

Qualified CPA(USA) and CA(India) Secured 94 Marks in Audit section of CPA (highest in India

for the window) Work experience with Ernst & Young - Audit of US

Financial sector companies Currently Working with Big4 in US Accounting Advisory

services Formed a US accounting firm in Washington along CPAs in

USA(SEVA LTD.)

About the Faculty

CPAs are doing very important roles, far beyond traditional accounting like:

Forensic Accounting for FBI Leading large corporations Financial Planning/Accounting Assurance & Attest services Management Consulting & Performance Management Financial Analysis Information Technology as applied to accounting & auditing Corporate Finance (M&A, IPO, Share & Debt Issuance, VC Funding) Tax Preparation & Planning Corporate Governance Income Tax

Roles of CPA

CPA’s are needed for

Filing US Tax Returns

Auditing companies listed with SEC

Conversion Services (from Local GAAP to US GAAP /IFRS)

Transaction/Advisory Services (M&A, Carve outs, spinoffs )

Roles of CPA

CPAs have incredible opportunities available to them because they are better equipped to handle demands of the market.

Globalization has led to huge complexities in the corporate world

Professionals are needed with vast knowledge of both Indian as well US accounting principles

US CPA has a global recognition than any Indian accounting qualification like B Com, M Com, CA, CS, ICWA or MBA (Finance) therefore creates huge differentiation to a recruiter

US CPA offers much better return on time and money invested

Benefits of CPA

Comparative AnalysisCourse Course

Duration

Course Cost

(Recognition)

Expected Salary

(pa) Rs.

%Employbility within 3 months

CA 4 Years 3 lacs India 5 – 6 lacs 20-30%CS 4 Years 3 lacs India 4 –5 lacs 20-30%

ICWA 4 Years 3 lacs India 2 – 3 lacs 20-30%MBA

(Finance)2 Years 3 – 5

lacsIndia 3 – 5 lacs

MCOM 2 Years 2 – 3 lacs

India 1 – 1.50 lacs

CPA 6 month

s

2-3 lacs

Global 7 – 12 lacs

95-100

** CPA can be undertaken by BCOM Graduates after passing the US Federal Tax Exam/ completing M.com 1 st year privately or regular

Comparative Analysis

Course Designation

CA Associate consultant / Executive

CPA Consultant / Assistant Manager

B.Com ( SRCC) Analyst / Trainee

Four-part Exams are prepared & administered by American Institute of Certified Public Accountants (AICPA)

Registration through any one of the 55 State Boards of Accountancy( colardo for Indians)

Computer based tests held in authorized test centres only in USA

Similar examination throughout USA Application & Exam fees varies from state to state Applications can be submitted at any time of the year Application process takes 6-8 weeks Education credentials need to be evaluated by an agency

approved by the state boards

How?

The examination is offered in the first two months of each calendar quarter called ‘testing window’. The examination is only offered in USA

Examination Dates & Schedule

•Testing Window 1•March not available

Jan - Feb•Testing Window 2•June not available

Apr - May

•Testing Window 3•September not available

Jul - Aug

•Testing Window 4•December not available

Oct - Nov

Candidate can take all exams in a single test window Cannot take specific part of the exam twice in the same

test window Candidate is required to pass all 4 exams within 18

months from the date first passed exam was taken A passing score on any section of the CPA Examination

is 75% Exams can be taken in any prometric centre in any

state irrespective of which state the registration is done Exams can be taken in any sequence

Some Rules

www.nasba.org for state boards jurisdictions www.cpa-exam.org for exam contents and

samples www.aicpa.org for membership info of AICPA www.prometric.com for locating test Centres

Some reference websites

Pass Four Exam Called Uniform CPA Exam:-

Auditing- 4 hours

Financial-4 hours

Regulation- 3 hours

Business- 3 hours

Exam Details

Engagement Acceptance and Understanding the Assignment (12% - 16%)

Understanding the Entity and Its Environment (16% - 20%) Performing Audit Procedures and Evaluating Evidence (16%

- 20%) Evaluating Audit Findings, Communications, and Reporting

(16% - 20%) Accounting and Review Services Engagements (12% - 16%) Professional Responsibilities (16% - 20%)

Auditing & Attestation (AUD)Duration – 4 Hours

Corporate Governance (16% - 20%) Economic Concepts and Analysis (16% - 20%) Financial Management (19% - 23%) Information Systems and Communications (15% - 19%) Strategic Planning (10% – 14%) Operations Management (12% - 16%)

Business Environment & Concepts (BEC)Duration – 3 hours

Conceptual Framework, Standards, Standard Setting, and Presentation of Financial Statements (17% - 23%)

Financial Statement Accounts: Recognition, Measurement, Valuation, Calculation, Presentation, and Disclosures (27% - 33%)

Specific Transactions, Events and Disclosures: Recognition, Measurement, Valuation, Calculation, Presentation, and Disclosures (27% - 33%)

Governmental Accounting and Reporting (8% - 12%) Not-for-Profit (Nongovernmental) Accounting and Reporting (8% -

12%)

Financial Accounting & Reporting (FAR)Duration - 4 Hours

Ethics, Professional, and Legal Responsibilities (15% -19%) Business Law (17% - 21%) Federal Tax Process, Procedures, Accounting, and Planning

(11% - 15%) Federal Taxation of Property Transactions (12% - 16%) Federal Taxation of Individuals (13% - 19%) Federal Taxation of Entities (18% - 24%)

RegulationDuration – 3 Hours

Skills CategoryWeights (FAR, REG,

AUD)

Weights (BEC)

Knowledge and Understanding 60% 85%

Application of the Body of Knowledge 40% -

Written Communication - 15%

Skill Specification Outlines

Examinations are administered in a series of 4 “testlets” 3 of the testlets comprises of MCQs For AUD, FAR and REG, the fourth testlet will include the short task-

based simulations (TBS); For BEC, the fourth testlet will include the written communication

tasks The task-based simulations are condensed case studies that test

accounting knowledge and skills using real life work-related situations

The written communication tasks are designed to test writing skills

Examination Length & Format

Task-based simulations are condensed case studies that test accounting knowledge and skills using real life work-related situations

Each task-based simulation is expected to take approx. 8 – 15 minutes to complete

All task-based simulations are intended to assess knowledge and skills that are appropriate for an entry-level accountant

Simulations are case studies to test the knowledge & skills required for entry-level CPA

Task Based Simulations

While completing the task-based simulations, you will use financial accounting, auditing, or taxation databases

The financial accounting database will include certain portions of the FASB and AICPA authoritative literature

The auditing database will include certain portions of the professional standards issued by the AICPA and the PCAOB

The taxation database will include certain portions of the Internal Revenue Code, as well as certain portions of the professional standards issued by the AICPA and the PCAOB

Task Based Simulations

Examination Length & Format

Section MCQs TBSs Testlet

TimeAUD 3 testlets (90

questions)1 testlet (7 TBS) 4 hours

BEC 3 testlets (72 questions)

1 testlet (3 written communication task)

3 hours

FAR 3 testlets (90 questions)

1 testlet (7 TBS) 4 hours

REG 3 testlets (90 questions)

1 testlet (6 TBS) 3 hours

Eligibility Criteria

CourseEvaluation of

Foreign Credential

Federal Tax

ExamCA Yes No

CS, ICWA, MBA (Fin), M. Com Yes No

B. Com + CA (Int), ICWA (Int), CS (Int)

Yes Yes

B.Com. Yes Yes

(Attested Certificates & Mark sheets of 10th Onward to be sent for evaluation)

The Training Program

Title USA CPA

Duration 10 full-days (Sundays)

Course Fees INR 80,000 (plus service tax)

Mode Face-to-face & Online Virtually-Live Classes

Start Date

3rd March ,2013

In financial education for more than 10 years Classes by well known competent faculties Conveniently schedule weekend class Bank loan facility available as well Orientation on:

◦ Exam functionality ◦ How to navigate questions ◦ How to use tools which are unlike those which are being

used today Committed to our students' success

CPA(USA) Review by Takshila

Sample Questions

Sample Questions

Sample Questions

Sample Questions

Cost of the CourseContents Dollars

($)Rupees

(Rs.)1. Study Material, Software and Classes 2000 100,000

2. Associated Cost a) Credential evaluation with state board b) Examination Fees of CPA

1201000

6,000 50,000

3. Travel Cost a) VISA & Air Fare b) Expense in US for 10 days @ $70 per day

1000700

50,000 35,000

Total Cost 4420 2,21,000

$1 Assuming INR 50, Courier, Bank Charges & Service Tax will be extra

2,50,000 is the approx. cost

Modalities for payment◦ Cheques to be couriered to 1/56 B, 1st Floor, Lalita

Park, Laxmi Nagar, Delhi-110092◦ Cheques can be deposited in our HDFC Bank Account

no. 01442000012558 in any HDFC Bank Branch◦ For transferring funds on-line through net-banking NEFT,

branch IFSC Code is: HDFC0000144◦ Call for Our exécutive to pick-up the cheque/cash from

your door-steps

Reference websites:www.takshilalearning.com

Misc Info

Additional fee of $550 towards exam fee for Federal Tax Course (on-line exam + open book)

For B. Com Students

FeedbackContact Central Helpline no.

91-99581 57000