Yes, you can pursue the Certified Public Accountant (CPA US) qualification after completing a Bachelor of Commerce (B. Com) degree. In fact, having a background in commerce, accounting, or a related field can be advantageous when pursuing the CPA US designation.
To become a CPA US, you generally need to meet certain education and experience requirements, as well as pass the CPA US exam. The specific requirements can vary depending on the jurisdiction or country in which you plan to become a CPA US. It is essential to check the specific requirements of the relevant accounting board or regulatory body in your region.
CPA US Eligibility- General Guidelines
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Educational Background:
Most jurisdictions require a bachelor’s degree from an accredited college or university. This degree is typically in accounting or a related field such as finance or business administration. In some cases, specific accounting coursework or a concentration in accounting may be required as part of the degree.
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Credit Hours:
Many jurisdictions specify a minimum number of credit hours in accounting and business courses. This can range from 120 (for writing the exam) to 150 credit hours (for Licensure), depending on the jurisdiction. The credit hour requirements often include a certain number of hours in accounting and auditing, business law, finance, and other related areas.
Two Categories of B. Com to Meet the Credit Hours
- Category A: Candidates who passed the B. Com exam with a 1st class/division from any NAAC” A” ranked institute/university, is equivalent to 120 credit points and are directly qualified to write the CPA US exam. For licensure, they must pursue M. Com or MBA etc. to get 60 credit points from either to stand with a total of 180 credit points.
- Category B: Candidates other than category A are considered to have 90 (30 for each scholastic year). To write the CPA US exam they must pursue M. Com or MBA (60 points) to get 150 credit points required for CPA exam and licensing procedures.
Brief Procedural Steps for CPA US:
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CPA US Transcript Evaluation
Submit your official transcripts/certificates (B. Com etc.) to the credential evaluation service for a comprehensive evaluation. Submit the evaluation report, along with any other required documents, to the state board of accountancy. The state board will review your application, including the transcript evaluation report. If everything meets their requirements, you will be deemed eligible to sit for the CPA exam or proceed with the licensure process.
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Register with a CPA US Training Institute
For your effective seamless study support and mentoring to pass the CPA exam, you need to enroll with a quality CPA training institute like Uplift Professionals who provide end to end support regarding study materials, online classes, recordings, mock exams, and 24*7 administrative support at every step.
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Notice to Schedule (NTS)
The Notice to Schedule (NTS) is a crucial document when scheduling the CPA US exam. It is issued by the National Association of State Boards of Accountancy (NASBA) or a similar authority, depending on the jurisdiction. The NTS provides authorization to schedule and take the CPA US exam within a specific timeframe, generally a 6 months period within which you must sit for the exam once you provide your NTS.
CPA US Career Scope
This versatile accounting credential opens flexible career opportunities in various sectors. To name a few, these are Public Accounting, Corporate Finance, Government and Nonprofit Organizations, Forensic Accounting, Management Consulting, Information Technology (IT) Audit, Personal Financial Planning, Education and Research, Risk Management etc. at various capacities along with the option of Entrepreneurship.
CPA US Salaries in India
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Entry-Level (0-2 years of experience):
Entry-level US CPAs in India can expect a salary ranging from INR 4 lakh to INR 8 lakh per annum. The salary may vary based on the organization and the city in which the individual is employed.
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Mid-Level (2-5 years of experience):
US CPAs with a few years of experience can earn salaries in the range of INR 8 lakh to INR 15 lakh per annum. At this stage, professionals often take on more responsibilities and may see an increase in compensation.
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Experienced (5-10 years of experience):
Experienced US CPAs with 5 to 10 years of experience can command salaries ranging from INR 15 lakh to INR 30 lakh per annum or more, depending on their roles, responsibilities, and the industry.
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Senior-Level (10+ years of experience):
Senior-level US CPAs, such as CFOs or finance directors, with extensive experience may earn salaries exceeding INR 30 lakh per annum. Top executives in larger organizations may earn even higher salaries.
CPA US is a top order accounting credential of high repute across the globe. The power of CPA US is tremendously beneficial for your ultimate career growth in the accounting and finance domain.
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