Can someone pls provide information abt how one should go abt pursuing CPA after having completed CA in terms of Exemptions, Eligibility requirements, etc?
Information about CPA
Vikash Patodia (CA, CS, B.Com) (32 Points)
07 June 2011Vikash Patodia (CA, CS, B.Com) (32 Points)
07 June 2011Can someone pls provide information abt how one should go abt pursuing CPA after having completed CA in terms of Exemptions, Eligibility requirements, etc?
vivek
(fresher)
(45 Points)
Replied 26 July 2013
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Suman
(CMA)
(195 Points)
Replied 12 August 2020
The Chartered Accountant course is conducted by the Institute of Chartered Accountants of India (ICAI) whereas CPA is an exam conducted by the American Institute of Certified Public Accountant (AICPA).
CPA course requires anywhere from 7 months to 1 year to complete. On the other hand, you need to spend at least 4 to 5 years to complete your Chartered Accountant course.
CPA is a global qualification that covers International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles in the US (USGAAP). CPA provides accounting professionals with a wide range of career opportunities in the US and various other major countries of the world especially in multi-national companies that originate or operate from US soil.
To take the CPA exam, you need to have a BCom degree with 1st class or a BCom degree along with a postgraduate degree. You can also appear for the exam if you have a BCom degree and an Indian CA qualification. Further, you need to have at least one years experience of working in the Accounting and Finance industry to apply for a CPA license.
CPA is an online exam with 4 sections which are Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting and Regulation. However, after you pass the first exam a time limit of 18 months applies to pass the other three exams.
To clear each CPA exam, you need to score above the 75th Percentile to pass the exam.