CPA in India

CPA Eligibility:
As for CPA eligibility, you need 120 credits to appear for the CPA exam and 150 credits for a CPA license. General rule: Every year of university education in India is equivalent to 30-semester credits of US education. Some state boards award credit for international professional qualifications like CA. For international CPA candidates from India, generally 3-year commerce graduates from NAAC A universities who have scored a 1 st division are awarded 120 credits. CPA Scope:
The CPA scope is going to increase exponentially now that the speculation of CPA exams coming to India has been answered. Due to the covid-19 pandemic, CPA exams in India will be held only for the months of June and September 2020. We are hopeful that testing in India will become a reality in the near future and that the period of testing will be extended. Given the international recognition, increasing US-based MNCs in India, the travel cost, and other administrative trouble being resolved, we would be looking at a massive increase in scope for years to come.

Both CPA and ACCA are premier accounting degrees from the USA and UK, respectively. Both are equivalent to the CA qualification in India. The Key difference between CPA and ACCA is the GAAP they specialize in. CPAs are considered experts in USGAAP (used by companies listed on NYSE), while ACCAs work with UK GAAP (used by companies listed on LSE). Both accountants are considered equally well versed with IFRS (widely used in Europe). Another major comparison point is the number of exams, while ACCA has up to 16 subjective style exams, CPA only has 4 objective style exams. ACCA may take multiple years to complete, whereas most people can complete CPA in one year. However, this difference in style of testing doesn't result in a difference in salary. Both accountants get paid comparably and being a CA on top, surely adds value.

You can think of taking up the following courses:
Chartered Accountant CA India) CA is a renowned course within commerce folks in India. The Certificate issued by the Institute of Chartered Accountants of India - ICAI, is a 3 level exam spread over 4-5 years on an average that provides a deep understanding of India GAAP and other relevant subjects. The scope is broad in the Indian sub-continent, where professionals also choose to open up their own practice. Certified Management Accountant - US CMA is a well-known course among the management and cost accounting professionals. The Certificate issued by the Institute of Management Accountants - IMA, provides a deep understanding of managerial decision making and cost measuring concepts. It also includes an introduction to fintech subjects helping the professionals be industry and tech-ready. Company Secretary CS India) CS course is another course famous among the commerce/accounting professionals in India. The course is built around the objective to have high caliber professionals facilitating good corporate governance. Other courses you can check out:
Certified Public Accountant - US CPA is a wildly popular and recognised accounting designation in the US and other foreign countries. One of the 55 State Boards of Accountancy in the US provides the CPA Certificate. The scope is vast and the content is crisp leading to jobs in various sectors and industries. Certified Financial Analyst CFA US) CFA covers a ton of accounting and finance topics including market risks and investment instruments. The Certificate is issued by the American CFA Institute. The scope is vastly in finance and hedge industries.

Both CPA and ACCA are premier accounting degrees from the USA and UK, respectively. Both are equivalent to the CA qualification in India. The Key difference between CPA and ACCA is the GAAP they specialize in. CPAs are considered experts in USGAAP (used by companies listed on NYSE), while ACCAs work with UK GAAP (used by companies listed on LSE). Both accountants are considered equally well versed with IFRS (widely used in Europe). Another major comparison point is the number of exams, while ACCA has up to 16 subjective style exams, CPA only has 4 objective style exams. ACCA may take multiple years to complete, whereas most people can complete CPA in one year. However, this difference in style of testing doesn't result in a difference in salary. Both accountants get paid comparably and being a CA on top, surely adds value.

The demand for CPA has considerably grown in recent times with the substantial growth in MNCs and the Big4s in India. This shift in the trend is because of the requirement of knowledge and credibility about US GAAP, IFRS & US taxation by these multinational companies.Indian qualifications like Chartered Accountant CA have limited geographical recognition and do not cover topics like IFRS & US GAAP. This increases the demand for CPA candidates in India. The demand has increased than the supply and that forced the MNCs and the Big 4s to train their CAs as CPAs. In other words, they give extensive training on the US GAAP, taxation, and the IFRS to their existing employees who are a qualified Chartered Accountant from the ICAI. For such training, the corporations approach Educational institutes like Miles Education, who are the experts in the industry in relation to the US GAAP & the IFRS.