Career CPA (Certified Public Accountant)

CPA (Certified Public Accountant) which is the world's largest accounting body.The CPA license is issued by one of the 55 states or territories of the United States all of which are members of NASBA (National Association of the State Boards of Accountancy).The CPA examinations are conducted by the AICPA. The AICPA offers membership to all candidates who successfully clear the CPA exams, Besides the option of traveling to the US to take the CPA exams, w.e.f. 1-Oct-2014, Indian candidates can take the CPA exams in Middle East locations including Dubai. 

Scholarship Amount

Recipients receive $2,500 for one year. Scholarship aid may be used only for the payment of expenses that directly relate to obtaining an accounting education (e.g.; tuition, fees,room and board, and/or books and materials only).  Awards are non-renewable and past recipients may not re-apply. Scholarship payments are sent directly to the student's financial aid office on behalf of the student.

To obtain the CPA license, CPA candidates need to fulfill the following criteria (also called the 4 "E"s):

  ***Examination: Clear all the 4 parts of the CPA exams,

***Ethics: Complete the AICPA ethics examination via a short offline course  [may be taken from India],

*** Education: Meet education requirements of the state board - candidates without a post-graduation may need an additional year of university education which can be facilitated by Miles CPA Review which has partnered with an UGC-approved university to offer a Post Graduate Diploma in Accounting [PGDA] for a very reasonable fees,

*** Experience: 1 year of work experience in a relevant accounting/finance profile attested by a licensed CPA in the Miles CPA Review academic team.  Enrolling with Miles CPA review course will not only help you to prepare for and successfully pass the CPA exams, but will also allow access to the most up to date CPA license requirements and expert advice. With Miles CPA Review, there is 100% clarity on what gets you where. Miles would certainly guide you to the shortest route to destination 'CPA'. The CPA exams are administered 8 months a year over 4 testing windows (Jan-Feb, Apr-May, Jul-Aug, Oct-Nov) with no exams conducted in Mar, Jun. Sep and Dec.

 CPA in  India:

The CPA examinations are conducted by the AICPA (American Institute of CPAs) which is the world's largest accounting body. AICPA offers membership to all candidates who successfully clear the CPA exams. Besides the option of travelling to the US to take the CPA exams, w.e.f. 1-Oct-2014, Indian candidates can take the CPA exams in Middle East locations including Dubai.

CPA is the US equivalent of the Indian CA Qualification. CPAs have knowledge of US GAAP (Generally Accepted Accounting Principles) & IFRS (International Financial Reporting Standards)

***Auditing and Attestation standards and procedures

***US federal taxation and business laws

***Business and financial concepts

The credentials and knowledge base of a CPA is a big advantage when working for US based financial service firms, companies listed in the US or Indian firms working for US clients. CPAs in India have significant career opportunities in sectors such as:

***Financial Services

***Banking

***Consultancy

***Information Technology

 Some frequent Questions

1.Aren’t CPAs and accountants the same thing?

ANS: All CPAs are accountants but not all accountants are CPAs. In many states, anyone can call himself/herself an “accountant.” In order to become a CPA almost all states require that an individual meet educational, experience and ethical requirements and pass the Uniform CPA Examination. Only then are individuals granted licenses to practice by state boards of accountancy. Also, only CPAs can perform the mandatory audits of all publicly traded U.S. companies.

2.What is the Uniform CPA Examination?   

ANS:The Uniform CPA Examination is the examination that individuals must pass in order to qualify for licensure as Certified Public Accountants in any of the 55 U.S. jurisdictions (the 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, and the Commonwealth of Northern Mariana Islands).

The Uniform CPA Examination is one of the "Three Es" - Education, Examination, and Experience - that are required for licensure as a CPA. Consequently, passing the Examination is not, in itself, sufficient to meet requirements for licensure.

Licensure requirements vary by jurisdiction, and are described on the websites of all Boards of Accountancy.

3. Is the Examination available in a language other than English?

ANS :No. The Examination is offered only in English

4.What are the component parts of the Uniform CPA Examination?

ANS :The Uniform CPA Examination consists of four sections:

Auditing and Attestation (AUD). This section covers knowledge of auditing procedures, generally accepted auditing standards and other standards related to attest engagements, ethics, and the skills needed to apply that knowledge. Business Environment and Concepts (BEC). This section covers knowledge of general business environment and business concepts that candidates need to know in order to understand the underlying business reasons for and accounting implications of business transactions, and the skills needed to apply that knowledge.

Financial Accounting and Reporting (FAR). This section covers knowledge of generally accepted accounting principles for business enterprises, not-for-profit organizations, and governmental entities, and the skills needed to apply that knowledge.Regulation (REG). This section covers knowledge of federal taxation, ethics in tax practice, professional and legal responsibilities, and business law, and the skills needed to apply that knowledge.

5.Is there a time limit for passing the four Examination sections?

ANS:These requirements are determined by Boards of Accountancy. Once candidates pass one Examination section, most boards allow 18 months for passing the remaining three sections. Candidates should refer to the requirements of their boards for the rules that will apply to them.

6.What types of questions are included on the Examination?

ANS:The Examination is composed of testlets - groups of 24 or 30 multiple-choice questions, or condensed case studies known as task-based simulations (TBS). Auditing and Attestation (AUD) and Financial Accounting and Reporting (FAR) consist of three multiple-choice testlets and a single simulation testlet with seven task-based simulations. Regulation (REG) consists of three multiple-choice testlets and a single simulation testlet with six task-based simulations. Business Environment and Concepts (BEC) consists of three multiple-choice testlets and one simulation testlet with three written communication tasks.