The Certified Public Accountant (CPA) credential is one of the most prestigious professional certifications in the field of accounting and finance, primarily recognized in the United States but respected globally. It certifies expertise in areas such as:
- Financial Accounting and Reporting
- Auditing and Assurance Services
- Taxation
- Business and Finance
- Regulatory Compliance and Consulting
CPA Eligibility Requirements
The eligibility to sit for the CPA Exam varies by U.S. state or jurisdiction, as each has its own licensing board. However, general requirements include:
Educational Qualifications: 150 semester hours of education (usually equivalent to a master’s degree or a combination of a bachelor’s degree with additional credits). A bachelor’s degree in accounting, finance, or a related field. At least 24-30 credits in accounting and 24 credits in business-related courses.
Work Experience: Typically, 1-2 years of work experience under a licensed CPA (varies by state). Experience can be in public accounting, government, industry, or academia. Most jurisdictions require candidates to pass the Ethics Exam after clearing the CPA Exam.
CPA Exam Sections
There are four sections you must pass to complete the CPA Exam, including three core sections: Auditing & Attestation (AUD), Financial Accounting & Reporting (FAR), and Regulation (REG), and a choice of one discipline section: Business Analysis and Reporting (BAR), Information Systems and Controls (ISC), and Tax Compliance and Planning (TCP)
Types of questions on the sections
To test these skill levels, each four-hour exam section is divided into five testlets. Each testlet contains one type of CPA Exam question. There are two types of CPA Exam questions:
1) Multiple Choice Questions (MCQs)
2) Task-Based Simulations (TBSs)
Every CPA Exam section contains 50% of each question type, with the exception of ISC where there are 60% MCQs and 40% TBSs
CPA & License
The National Association of State Boards of Accountancy (NASBA) recommends that each section of the CPA Exam cost $344.80. Assuming you pass all four sections (three Core sections and one Discipline) on the first attempt, the cost is $1,379.20 approx.
While most of the 55 jurisdictions and state boards’ fees align with NASBA’s recommended fees, they can change the amount at their discretion, so we highly recommend verifying with your state Board of Accountancy. For CPA candidates outside the United States, you will need to choose a state Board of Accountancy that will declare you eligible, as some states do have residency and citizenship requirements. In addition to paying any domestic testing fees, you will also need to pay an additional $390 per section.
Scope of CPA (US):
The CPA certification is not limited to traditional accounting roles. Its holders excel in various industries and sectors, including:
Public Accounting: CPAs play a crucial role in public accounting firms, especially the Big Four (Deloitte, PwC, EY, and KPMG). They are engaged in:
- Auditing and Assurance: Ensuring compliance with financial regulations and internal controls.
- Taxation: Advising clients on tax strategies, preparation, and planning.
- Consulting: Offering insights on mergers, acquisitions, and business restructuring.
Corporate Accounting within corporations, CPAs handle:
- Financial reporting and analysis.
- Budgeting and forecasting.
- Mergers and acquisitions (M&A) strategy.
- Internal controls and regulatory compliance.
Government and Non-Profit Organizations: In the public sector, CPAs ensure fiscal responsibility and compliance with regulations. They are also vital in fraud investigation and forensic accounting for government agencies.
Career Roles for CPAs:
CPAs can pursue a variety of roles, with opportunities for rapid advancement into leadership positions. Some prominent roles include:
- Auditor: Ensuring financial records are accurate and compliant with regulations.
- Tax Consultant: Advising individuals and businesses on tax planning and compliance.
- Forensic Accountant: Investigating financial fraud and white-collar crimes.
- Financial Analyst: Interpreting financial data to guide strategic decisions.
- Controller: Overseeing financial operations within an organization.
- Chief Financial Officer (CFO): Leading financial strategy and decision-making at the executive level.
Why Pursue CPA US from Task Academy?
Choosing the right institute for pursuing a prestigious certification like CPA (US) is a critical step in ensuring success. Task Academy is an excellent choice for aspiring CPAs due to its structured approach, experienced faculty, and student-focused resources. Task Academy is an officla provider of Surgent CPA Exam Review Here’s why Task Academy stands out:
- Customized Learning Paths: Task Academy offers tailored study plans designed to meet the specific needs of CPA candidates, helping them balance study with personal and professional commitments. The curriculum ensures every topic of the CPA exam is thoroughly covered, aligning with the latest AICPA guidelines.
- Industry-Experienced Instructors: Task Academy’s faculty includes seasoned CPAs and industry professionals who bring real-world insights into the classroom.
- Personalized Guidance: One-on-one mentoring session’s help students clarify doubts and enhance their understanding of complex topics.
- Flexible Learning Options: Online and Offline Classes: Task Academy offers both in-person and virtual classes, allowing students to choose the mode that suits them best.
- Focus on Exam Strategies: Task Academy emphasizes strategies for managing the limited time during the CPA exam effectively. Regular mock exams with detailed feedback help students identify and improve weak areas. Specialized guidance for the CPA Ethics Exam, an essential part of the licensure process.
- Affordable Pricing and Value-Added Services: Task Academy offers CPA training at a reasonable cost, ensuring access to quality education for all. Services like assistance with CPA exam applications, state board evaluations, and documentation make the process hassle-free.
For more details on CPA US training contact : +91-9921007392