CPA USA

In recent years, rapid development and invasion of technology is being visible in every professional knowledge sector and accounting domain is not an exception to this. The accounting profession is thus going to face so many challenges in near future and needs upskilling. Certified Public Accountant (CPA US) being a highly recognized global professional accounting credential, is also facing the threat of below at par with its existing syllabus and courseware. From here, a new initiative has been started currently known as the “CPA Evolution.” This initiative has been taken by The American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) to combat the above-mentioned challenges which involve the revamping and restructuring the CPA Exam into a new CPA core-plus-discipline licensure model from 2024 onwards.

CPA Syllabus 2024

It has been proposed that from 2024, the entire CPA syllabus will be presented in a Core -Discipline model format. Among the all 4 previous sections, the BEC part will be replaced by 3 Discipline module from which the candidate can choose any one along with the three Core subjects, thus the exam remains in a 4-part format as before.

The Core Subjects in CPA 2024 Syllabus

1.AUD
2.FAR
3.REG

The Disciplines Subjects in CPA 2024 Syllabus

1.Business Analysis and Reporting (BAR)
2.Tax Compliance and Planning (TCP)
3.Information System and Controls (ISC).

Hence, it is obvious that as par the new 2024 CPA syllabus, the CPA exam will include three core exams (AUD, FAR and REG) and one discipline exam of choice (either BAR, ISC or TCP). It is to be noted that while the names of the core exams remain the same, the content of each is changing. Moreover, technology and data analytics are now become a core component spanning over all 6 subjects in the proposed core-discipline model of the CPA evolution.

Which Discipline of CPA 2024 Syllabus One should Select?

To start with, you should keep it in mind that all 3 disciplines have equal importance in your CPA career nothing more nothing less. First identify your interest and inclination to the topic. As for example, if you have interest in advisory services, financial statement analysis and reporting, technical accounting, and operation management etc., it is better to select BAR as your discipline subject.

Similarly, if you want to build your career in taxation and compliances, TCP should be your cup of tea.

On the other hand, if you have affinity towards computers, data management, information technology etc., it would be better to opt for ISC as your discipline subject for CPA exam 2024.

The CPA evolution has redesigned the CPA syllabus 2024 to develop future ready professional accountants who can take up the technological challenges with ease. It is expected that this revamping will make the CPA exam a little bit harder than its existing format. At the same time, it is also expected that CPA 2024 syllabus with its core-discipline model will equip you with advanced knowledge and skill in your CPA credential. No matter what discipline you opt, each one has importance of its own in the trending and changing accounting arena.

For further information/assistance, contact:

www.upliftprofessionals.in

When we talk about the Certified Public Accountant (CPA) credential, we often discuss the repute and potential of this coveted accounting certification. We also know about the pattern and syllabus of this exam and licensing procedures obviously if we are serious about the CPA title. But, are we aware of the CPA Evolution initiative? Are we aware that the Unified CPA Exam is changing significantly in January 2024? Before jumping in to the bandwagon, it is important to know about this initiative and the upcoming changes to the CPA Exam to fully understand how it might impact the sojourn to CPA licensure. The question often comes to mind whether it is applicable to the current CPA pursuant or not? The answer to this stands as if you pass and retain credit for all four CPA Exam sections by December 31, 2023, the changes to the CPA Exam will NOT impact your journey. If you will still be working your way through the CPA Exam in January 2024 and beyond then the information about the CPA Evolution-aligned CPA Exam (the 2024 CPA Exam) and transition policy are most important to understand.

The Present CPA Exam Areas – the 4 Core Sections

The 4 Sections which a CPA aspirant has to clear through separate exams for each section is mentioned below.

Metamorphosis: The Proposed Forthcoming Areas of CPA Exam

According to the proposed initiative, the following structural plan for the CPA exam will be implemented from January, 2023.

The new CPA licensure and CPA Exam model is a Core + Discipline model. In this model, there are 3 core areas involve accounting, auditing, and tax that are mandatory to complete by all candidates. Furthermore, each candidate must opt for a Discipline section for demonstration of greater skills and knowledge. Technology knowledge and skills will be tested in all sections, as it pertains to each section. Irrespective of a candidate’s optional discipline, this model leads to a full CPA license, with rights and privileges consistent with any other CPA. The Discipline section selected for testing does not mean the CPA is limited to that practice area. The new Disciplines reflect three pillars of the CPA profession as mentioned below.

• Business Analysis and Reporting (BAR)
• Information Systems and Controls (ISC)
• Tax Compliance and Planning (TCP)

CPA Evolution: The Transition Policy for Each Section

The transition policy was recommended to the Boards of Accountancy by the NASBA CBT Administration Committee which states that Candidates who have credit for AUD, FAR or REG on the current CPA Exam will not need to take the corresponding new core section of AUD, FAR or REG on the 2024 CPA Exam. Candidates who have credit for BEC on the current CPA Exam will not need to take any of the three discipline sections. If, however, a candidate loses credit for AUD, FAR or REG after December 31, 2023, they then must take the corresponding new Core section of AUD, FAR or REG. A candidate who loses credit for BEC after December 31, 2023, must select one of the three Discipline sections to be tested. It is important to note that none of the sections of the current CPA Exam will be available for testing after December 31, 2023. There is a hard cutover from the current CPA Exam sections to the 2024 CPA Exam sections on the January 2024 launch.

Break-up of the New CPA Evolution Exam Design

The forthcoming changes in the new CPA exam pattern is depicted below for convenience. The duration is fixed while the number of MCQs and Task Based simulations(TBS) vary.

Key Facts on CPA Evolution Exam Pattern

The important points to remember about the changing pattern and implications are mentioned below.

The Credit Extension of New CPA Evolution Exam

CPA Evolution Exam Section wise Changes

There are additions/modifications of contents in the new CPA exam sections which one must get accustomed to before starting the CPA journey in the coming year. Salient features of the changes are depicted below.

Some Other Changes for Newly Revolutionized CPA

CPA Evolution Dates to Remember

Summary

The amalgamation of new interdisciplinary domains in this CPA evolution will make a CPA more compatible in the new age financial arena. It has never been a more exciting time to pursue the CPA license. The role of today’s CPA has evolved, and newly licensed CPAs are taking on increased responsibilities that were traditionally assigned to more experienced staff. Becoming a CPA means you will need greater skill sets and competencies, and a greater knowledge of emerging technologies. That is why the CPA Evolution initiative is underway. It is a joint effort of the National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA).

For Further Information/Assistance, Contact:

www.upliftprofessionals.in

In Indian scenario, CA(Chartered Accountant) is a coveted accounting credential and most sought after career path for a student having a commerce background with a zeal to be the highest order of accounting professional.

But the journey of a CA is not that smooth due to various reasons as discussed below.

1)Duration

The CA course is on average 4.5 years but majority of the students used to take much longer period to finish it. Eventually, this is the reason why so many drop out happens in the midway.

2) Pass rate

In spite of the glamour associated with CA as a career, the low pass percentage is another main reason to finally end with much lesser number of professionals.

3) Exam pattern

Mere cracking the CPT does not yield a guarantee a degree. A large number of students struggle to clear both. groups at the IPCC level in a single attempt.

4) Elaborate syllabus

Due to the vastness of the syllabus, the course appears to be a complex game. Difficulty to crossover increases at each and every level to ultimate toughness.

5) Challenges during articleship

Students need to complete 3 years of articleship by working either under a licensed CA or an authorized CA firm.This has utmost importance providing practical knowledge and industry experience. To get selected in a good firm is a challenge, this with poor stipend and feed back system creates a disgusting situation for budding CAs.

6) Placement system

Apart from the firm of articleship, ICAI offers company placements but the job scenario is undergoing stagnant in India. 
Although it is quite evident that CA is a good career option in India, where a CA has authoritative knowledge and skill over Indian taxation, accounting and regulatory norms but is it enough to reign in the global financial sector? Probably not.

It is time to reconsider other options too beyond CA.There are multiple career options available with global recognition in the field of business and finance. Globalization has brought drastic changes in the requirement of companies. 

A CA with a global certification in finance like CA with CMA US or CA with CPA US or CA with CIA US has clear edge over only CAs. 

Now the companies expect a job aspirant should understand and evaluate global financial reporting requirements and acclimatize to the evolving burden of constant changes and updates in the industry. Hence people even after completing the CA isn’t stopping now. 

Moreover, the difficulty of clearing the CA exam and the time investment along with the crunched job prospects in global market  generates a lot of frustration among aspiring CAs.

Hence, it is high time to embrace the newly available alternative career goals, with or without a CA, to achieve your dream in accounts and finance:

A) US CPA course: It is the highest accounting qualification in USA, just like CA in India. This certification is accepted globally including India. MNCs working in diverse geo-locations prefer CPAs than CAs where the former can also set up individual practise in USA. The CPA designation is 100% worth for those who have plan to build long term career in accounting platform. A lot of CAs are also pursuing CPA to get a job in MNCs.

B) US CMA course: This is another global certification and also applicable for India with higher job potential. If you want to be a part of corporate finance, performance arrangements, internal controls, decision analysis, financial reporting, strategic planning and organizational management in finance, go for this course.If you plan for the future, enroll for US CMA course. CMA syllabus is more focused and specific in contrast to the vast syllabus of CA.

C) US CIA course: People working in the domain of Internal Audit must go for this course. Till today mostly CAs perform the internal audit and compliance job in companies. Hence CAs with this particular job profile aspire to go global by being a CIA US.

While CA course takes about 5 years and Indian CMA takes 3 years to complete, both US CMA, CPA or CIA courses can be completed by 1 year only.

So take your decision judiciously, bring innovation, break the cocoon of being a CA only and grab the new opportunities as early as possible.
For guidance and help regarding US financial courses contact:
http://www.upliftprofessionals.in/CPA

Do you love accounting to the moon and back?

Then go for the US CPA course.

Else do not  block your time  and money  just because  people have told you that  US CPA course is a hallmarked qualification in public accounting and will fetch you money and prestige in life. Passing the US CPA course is not your cup of tea if you believe in shortcuts of life.

2020 has shown us wave after wave of lay-offs and long lists of death counts. 

2020 has made us face the struggle of tough survival. 

If the  survivor in you is convinced that only the fittest will survive in the corporate jungle of the ‘new-normal’  era  and  the  school of conservative  thoughts is not going to help you much in the days to come, take a deep warm dive into CPA. 

True,  US CPA exam in India can now be written from India on a permanent basis  w.e.f January 1, 2021 because the pilot testing   made by AICPA and NASBA in India  in 2020 is successful. Students are excited and  more Indians have written their CPA exams in 2020 despite the harsh pandemic situations.

Apart from India, the other international testing locations for US CPA exam are:

• Japan
• Brazil
• Bahrain
• Lebanon
• Kuwait
• UAE
• England
• Scotland
• Ireland
• Germany
• India

Remember that International candidates must meet the same requirements to sit as their domestic counterparts including residency as determined by individual boards of accountancy. For more information on testing for international candidates,  head over to NASBA’s site.

Testing in India is available to eligible candidates who are citizens or long-term residents of the following countries:

• India
• Bhutan
• Bangladesh
• Myanmar
• Maldives
• Nepal
• Sri Lanka
• USA

As of now, If you have residentship of  only India, you can write the US CPA exams in the following centers:  India; USA; UAE

WHY? 

Today India is the finance and accounting hub for the world with Big 4 and MNCs having extensive global capability centers in India. And the CPA designation provides the much-needed global skills and credibility to Indian finance and accounting professionals.

Hence more and more Indian accounting professionals are writing the US CPA exam in India nowadays. And the news of the exam center being in India is definitely a huge savings of costs for Indians who used to fly to Dubai or to the US for 2/3 times in most cases for clearing the 4 exams of the US CPA course.

 HOW?  

How to apply for the CPA Exam in India?

The application process is the same regardless of the location you take the US CPA exam. You must first apply through a U.S. jurisdiction, which will license you as a CPA in that state. This first step is necessary even for international CPAs, because it’s the individual U.S. states (or territories such as Puerto Rico) that license CPAs, not the federal government.

Choose your U.S. jurisdiction/state

If you don’t live in the U.S., it can be difficult to know which state to select for your CPA license. Each of the 55 jurisdictions (states) has its own Board of Accountancy eligibility requirements.

Some states have flexible or reduced education requirements or other elements that may make your international CPA Exam application easier. We’ve done some research to help you understand which states are best for international CPA applicants.

Request application materials from the jurisdiction board.

You can access all state Board of Accountancy websites as well as ask NASBA any questions you may have here.

Submit your application and fees.

You will submit your CPA Exam application and fees to NASBA’s CPA Examination Services division. NASBA processes these on behalf of each jurisdiction’s Board of Accountancy.

Once the board confirms your qualifications and issues an NTS for you, schedule your exam.

You will schedule your CPA Exam with Prometric, the organization that administers the CPA Exam for all locations worldwide.

NASBA also lays out information on jurisdictions, eligibility, fees, and scheduling as well as document requirements by country.

When can I take the CPA Exam?

Starting from November, 2020, write your exams on any work day throughout the year in the allocated prometrics.

Remember, you have 18 months to complete all four sections of the exam once you pass the first section. See more on how to set your CPA Exam schedule.

CPA Study Support by GLEIM – UPLIFT

Gleim has helped accountants around the world pass over 1 million CPA Exams.

Professor Irvin Gleim published the first CPA Review book in 1974. In 1980, he published CIA and CMA Review courses that went on to become the most widely used worldwide. Gleim CPA is the oldest and used by most number of students worldwide to pass the exam.

About the top US CPA training institute in India, Africa, and Middle East – Uplift Pro

Uplift Pro is one of the top training institutes for the US CPA, US CMA, US CIA courses in India, Africa, and Middle East. Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong backup to young ambitious students and professionals to reach their desired career destinations in an organized way.

Uplift Pro, is an authorized partner of Gleim in India, provides you with authentic Gleim materials, updates and Live Online Interactive Classes for CPA US by internationally experienced veteran mentors. All at an Indian Cost. 

Regarding Uplift CPA interactive coaching, listen it from a student:

Some of our exclusive features include –

A. Affordable US CPA course fees

B. CPA certified veteran TEAM of faculties

C. Live online classes ensuring that the regular office working hours is least impacted. Also, provides class recordings to students.

D. 1:1 personal support from our 30 plus years of experienced CPA certified faculties ensuring that all our students pass the US CPA course

E. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass

F. Premium study materials with practice questions bank enabling students to pass the US CPA exam in India and rest of the world

G. Administrative guidance on US CPA evaluation procedure

H. Placement assistance

Request for Live Demo class / contact at +91-8787088850 to book your seats now.

US CPA course or Certified Public Accountant is recognized to be one of the most demanding professions in the finance and accounting sector which is administered by AICPA or American Institute of Certified Public Accounts.

If you are willing to build a successful career and earn an attractive package in the field of accounting, the US CPA course might be a smart choice for you. A prominent reason why people choose to become CPA is that they can find better and more opportunities within a short period. Thus, they can gain success in their career without encountering too many hurdles. US CPA course is believed to be a powerful certification which will bring stability in the career. To appear for the examination, it is necessary to accomplish the eligibility.

Eligibility for the CPA examination

To appear for the US CPA course examination, it is a prerequisite to becoming a member of the Institute of Chartered Accountants of India. You should also become a member of the Company Secretaries in India, Member of the Institute of Cost and Works Accountants in India. In addition to this, it is a prerequisite to a clear Master of Commerce and MBA.

Scope for CPA in India

Once you become a CPA, you will be capable of working from any part of the globe. The CPAs are known to be hired by different subsidiaries of multinational companies in India. Indian companies that have raised funds from the capital markets of the United States also hire Certified Public Accounts. In addition to this, CPAs can also seek opportunities in F&A companies. They can also work as auditors of multinational companies.

Companies hiring CPA professionals

There is a wide assortment of opportunities for students, who qualify for the US CPA course examination. At present, United State organizations having Indian offices are also hiring the public certified accountants. As the number of CPAs is visibly less in Indian Market, the majority of the companies are sponsoring the CPAs. Also, there are a plethora of jobs in Financial Planning and Analysis, Taxation, Auditing, and different profiles in India. Few of the prominent companies that are hiring Certified Public Professionals include Genpact, Philips, Deloitte, Accenture, Cognizant, etc. If you have sufficient knowledge, you will become successful as a CPA professional.

The Certified Public Accountants are also found to work for BIG4. BIG4 happens to be one of the leading professional accounting organizations which provide taxation, assurance, auditing, accounting, risk assessment, and control, consulting, legal services, to a plethora of clients across the globe. Few popular clients of BIG4 include PWC, KPMG, Deloitte, Ernst, and Young. The services, provided by these firms are in higher demand and thus they have gained high popularity in hiring the CPAs in India. A worth mentioning reason why these companies are hiring CPAs is that the Certified Public Accounts can provide a plethora of such services without any hassles. In addition to this, they are known to be well versed in US GAAP and IFRS reporting.

The CPAs are also known to work for financial service organizations. They are capable of handling international and financial accounting, as well as corporate governance, easily. They are hired for different types of profiles in the financial services firm.

If you are a CPA aspirant, you may seek support from Uplift PRO for premium materials and live online coaching to make the best preparations for the examination which will be useful to you in clearing the examination on the very first attempt. CPA can bring a well-respected career to you. You can get a stable career along with a high paying salary after becoming a CPA. In addition to this, it will open new doors of opportunities for you.

About the top US CPA training institute in India, Africa, and Middle East – Uplift Pro

Uplift Pro is one of the top training institutes for the US CPA course, US CMA, US CIA courses in India, Africa, and Middle East. Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong backup to young ambitious students and professionals to reach their desired career destinations in an organized way

Some of our exclusive features include –

A. Affordable US CPA course fees

B. CPA certified veteran TEAM of faculties

C. Live online classes ensuring that the regular office working hours is least impacted. Also, provides class recordings to students.

D. 1:1 personal support from our 30 plus years of experienced CPA certified faculties ensuring that all our students pass the US CPA course

E. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass

F. Premium study materials with practice questions bank enabling students to pass the US CPA exam in India and rest of the world

G. Administrative guidance on US CPA evaluation procedure

H. Placement assistance

Request for Live Demo class / contact at +91-8787088850 to book your seats now.