Are you considering pursuing a career in the finance or accounting sector? Certified Public Accountant (CPA) certification can be your ideal pathway! The CPA course is internationally recognized, which leads to interesting job prospects in auditing, accounting, finance, and taxation. Whether you aim to work in a multinational company or grow in your current role, pursuing a CPA can boost your career potential significantly.
In this blog, we will guide you through every aspect that you need to know about the CPA certification, from exam structure, eligibility requirements, and syllabus. If you are concerned about what it takes to become a CPA professional, then you have come to the right place, as we are here to guide you with clear and up-to-date details.
What is CPA Certification?
CPA full form includes Certified Public Accountant, which refers to a license accounting certification, which is issued by the AICPA in the United States. A certified CPA individual can sign financial statements, manage US tax matters and conduct thorough audits. It verifies the candidate’s knowledge in accounting standards (IFRS, GAAP), auditing, taxation, and economic evaluation.
Moreover, CPA is compared to India’s CA qualification; however, the CPA course is internationally focused, while CA is only India-specific. Pursuing a CPA certification can open doors to jobs in consulting firms, Fortune 500 companies, and even global banks.
Understanding the CPA Exam Syllabus
There are four sections of the CPA exams. Candidates must complete all four sections within an 18-month testing window. Furthermore, candidates are not permitted to retake any single section of the exam on the same testing day.
If you fail in any section, you must wait until the next testing window opens to make another attempt. Let us explore a complete breakdown of the CPA full form – Certified Public Accountant exam sections and subjects for your better understanding.
1. Financial Accounting and Reporting (FAR)
- Financial Statement Accounts.
- Financial Accounting.
- Federal Tax Process and Planning.
- Standard Setting, Conceptual Framework & Financial Reporting.
- Local and State Government.
- Federal Taxation of Individuals and Entities.
2. Auditing and Attestation (AUD)
- Risk Assessment and Response Development.
- Understanding the Entity and Its Acceptance.
- Assessing Audit Findings, Communication, and Reporting.
- Accounting and Review Engagement Services.
- Conclusions and Reporting.
- Ethics, General Principles & Professional Responsibilities.
- Performing Further Procedures & Obtaining Evidence.
3. Regulation (REG)
- Individual Federation Taxation.
- Property Transaction and Federal Taxation.
- Business Law.
- Professional Responsibilities, Ethics & Federal Tax Procedures.
- Entity Federal Taxation.
4. Business Environment and Concepts (BEC)
- Conceptual Framework & Presentation of Financial Statement.
- Specific Transactions and Disclosures.
- Financial Statement Accounts.
- Not-for-profit Accounting and Reporting.
- Government Accounting and Reporting.
What is the Exam Structure of the CPA Program?
The CPA course exam is entirely computer-based and consists of many multiple-choice questions, Task-Based Simulations (TBS), and a Written Communication Task. Each section of the CPA exam takes 4 hours and focuses on testing candidates’ technical knowledge and practical application.
Students must score at least 75 out of 99 to pass each section. Moreover, these exams are conducted year-round, and candidates can appear for the exam at Prometric centres across India. The format of the exam is rigorous, and students must take several practice tests to ensure they get familiar with dynamic question types beforehand.
| Exam Section | MCQ% | TBS% | WCT% |
| AUD | 50% | 50% | – |
| REG | 50% | 50% | – |
| FAR | 50% | 50% | – |
| BEC | 50% | 35% | 15% |
CPA Course: Entry Eligibility Requirements
To pursue a CPA qualification, students must meet specific professional and academic requirements, which may vary by state in the USA. However, let us delve in deeper into a few standard requirements that candidates must keep in consideration.
1. Educational Requirement
- Candidates must have a bachelor’s degree or equivalent degree from an accredited institute.
- Most US states require at least 120 to 150 hours of education, like courses in auditing, taxation, accounting, and business law.
- International students have credentials evaluated by a recognized evaluation agency to ensure equivalency with the U.S. standards.
2. Citizenship and Minimum Age
- Most states of the U.S. require candidates to be at least 18 years old to appear for the CPA exam.
- U.S. citizenship isn’t mandated in many states; however, some states may ask for a valid Social Security Number.
3. Work Experience (License)
- Candidates must have 1-2 years of relevant accounting experience under a licensed CPA to obtain their CPA license successfully.
Conclusion
Pursuing a CPA course can be a potent step towards a rewarding career in finance and accounting! With global recognition, extensive curriculum and emphasis on U.S. GAAP, taxation, auditing, and business strategy, the CPA qualification enables professionals to stand out in a competitive job market.
Whether you are aiming for roles in public accounting, consulting or corporate finance, a CPA will open the door to high-paying and responsible positions. With proper preparation, assistance, and the right mindset, you may obtain the CPA designation and progress your career. Connect with a Zell Education counsellor today to explore more about the CPA certification!
FAQs
1. What is CPA Full Form? And why is it Important?
CPA full form includes Certified Public Accountant, and it is a globally recognized U.S. accounting certificate. It provides global job opportunities and high salaries to professionals in sectors like audit and finance.
2. What career opportunities can a CPA professional benefit from?
CPA professionals can benefit from global job opportunities in top accounting companies, government agencies, corporations, and more with high salaries and leadership roles.
3. How much does the CPA exam cost?
The total cost of the CPA exam can range from $1,500 to $3,000, depending on the U.S. state or additional fees such as application fee, evaluation fee, and more.
4. Do candidates need to continue education after CPA?
Yes, CPA professionals must meet the Continuing Professional Education (CPE) requirements to maintain their license.
5. Is it mandatory for CPA candidates to take review courses?
While structured study schedules and practice exams are not required, they can help you pass the CPA exam.