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The US CPA designation
The US CPA designation: - US equivalent of CA - 12 month’s timeline - Only 4 papers - Exams in Dubai or US - @Simandhar, Becker “official” India partner
The US CPA designation
The CPA Career
CPA = US Equivalent of CA
Roadmap to CPA = 12 months
CPA is the US equivalent of Indian CA CPA exam USPs
o 4 exams only o Exams in Dubai (or US) o 12 months / 1000 hours study
Extensive career opportunities with MNCs and Big 4 [fresher salary
packages > INR 600k]
International
Credibility
• Global recognition (vs National recognition for CAs)
• Opportunity with Big4 and MNC's in India
Knowledge
Base
• Accounting (FAR)
• Auditing(AUD)
• Tax (REG)
• Finance (BEC)
Course USPs
• 4 exams only, 24 Sunday classes
• Can complete within 12 months
• Anywhere: US or Dubai
• Anytime: 8+ months/year
The US CPA designation
Why only 2-4 exams for US CPA/CMA certifications?
US CPA / CMA
US professional qualifications “COMPLEMEN” UNIVERSITY EDUCATION – e.g., to be a CPA, CMA or CFA, a university degree is mandatory
Therefore, these are crisper in content and focus only on skill gaps that are needed to be a F&A professional
Designed to be pursued alongside a full-time job and to facilitate the career progression for professionals
Indian CA / CWA
Indian (or even UK) professional qualifications tend to “SUBSITUTE” UNIVERSITY EDUCATION – e.g., you can be an Indian CA, CMA or CS without being an under-graduate!
Therefore, these are lengthy and also encompass what a candidate would have covered (or simultaneously covers) in a university degree.
Global
recognition
2-4 exams,
single-level
University
degree required
16-20 exams, 3
levels
University
degree
The US CPA designation
Career opportunities for CPAs in India
Subsidiaries of US-based MNCs in India [i.e., MNCs based out of US
or US SEC-registrants]
•Need to convert Indian GAAP financials to US GAAP for consolidation with the US parent. US GAAP financials – that’s the job of CPAs!
•US regulations & compliances apply. E.g., SOX, FCPA
Subsidiaries of US-based MNCs in India [i.e., MNCs based out of US or US SEC-registrants]
•These are US SEC-registrants; hence, have reporting requirements with the SEC - in US GAAP or IFRS. E.g., Tata Motors, Tata Steel, HDFC, ICICI, Infosys, Wipro
Few Indian MNCs who have raised $ from US capital markets
•For audits, the partner on the audit for a US SEC-registrant needs to be a CPA, and they always prefer to have CPAs on the engagement team
•Especially Big 4 – Deloitte, EY, KPMG, PwC
Auditors of these MNCs
•Includes Accenture, Genpact, Capgemini, IBM, HP, Infosys, Arvato, Xerox, Wipro, TCS, Cognizant, EXL, Steria, WNS, others
F&A companies
The US CPA Certification
CPA Exams = 4 Parts only
Key pointers:
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%
18 months to clear from date of clearing 1st exam
Anytime (4 testing windows): Jan 1 - Mar 10, Apr 1 - Jun 10,
Jul 1 - Sep 10, Oct 1 - Dec 10
Anywhere in the US or few Middle East locations (incl.
Dubai)
FAR
•Financial Accounting & Reporting
•US GAAP & IFRS
• 4 hour exam (50% multiple choice and 50% simulations)
AUD
•Auditing & Attestation
•Auditingstandards & procedures
•4 hour exam (50% multiple choice and 50% simulations)
REG
•Regulation (US tax /law)
•US federal taxation & business law
•4 hour exam (50% multiple choice and 50% simulations)
BEC
•Business Environment & Concepts
•Business transactions
•4 hour exam (50% multiple choice, 35% simulationsand 15% written)
The US CPA Certification
CPA Eligibility - Expert guidance by Simandhar
Minimum education requirements for US CPA exams and 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
o 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
o CA/CS/CWA recognized by few states as 2 years of US education
CPA Exams =
120 credits
CPA License =150 credits
The US CPA Certification
CPA License - Simandhar helps you become a CPA
As per regulations, for CPA exams taken in international locations
(like Dubai), the exam credits lapse unless the candidate is able to get
to the CPA license within 3 years of clearing the CPA exams
EDUCATION
EXPEIRENCE
EXAMINATION
ETHICS CPA
The US CPA Certification
CPA Exams & License – cracking the code!
55 State Boards of Accountancy (SBAs) – each
authorized to issue the CPA license, and decide their
own eligibility rules
NASBA – the association of the 55 SBAs
AICPA – conducts the “Uniform” CPA examinations
Prometric – CPA exam test centres
POINT OF DIFFERENCE
ELIGIBILITY -
rules decided by:
EXAMS –
conducted by:
CERTIFICATE /
LICENSE –
awarded by:
CA
ICAI
ICAI
ICAI
CPA
55 SBAs [varying rules with different choice of evaluation agencies]
AICPA [irrespective of state board selection; hence, these are called “Uniform” for the CPA examinations]
55 SBAs
[varying rules; but note that ALL the states are substantially equivalent; i.e., license from any one state board is valid across the US and the world]
The US CPA Training @ Simandhar Education
Simandhar CPA Review - Course Offerings 160 hours of master direction;
Learning through materials published by Becker Professional Education
Over 6500 multiple choice questions;
Over 250 task based simulations that mirror the exam;
Two full final practice exam per part with the content and functionality of the actual CPA Exam;
Comprehensive Text Books and E-Books;
Intuitive Study organizer to help you develop study design customized at your inclinations theme.
Live Classes
Lectures to be delivered by all proficient faculties and with industry experience.
Special attention to every student
Placement assistance (for self-sponsored candidates)
Simandhar CPA Review is the provider of CPA classroom training. Simandhar Education provides the best in-class study material, a unique classroom delivery model quality education with emphasis on conceptual knowledge and extensive student support to accomplish their goals.
Simandhar CPA Course Fees
INR 132,000+GST
Early bird discounted fee INR 108,000+GST
For more details on Course Structure and Batch Schedule please visit our website
www.simandhareducation.com