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What is a CPA Course?
CPA (Certified Public Accountant) course is one of the most sought-after Accounting Qualifications worldwide. There are many country-specific CPA courses available in India. Undoubtedly, a US CPA certification is the best choice for Indians seeking a career in the accounting industry and settling abroad. The career benefits of doing a CPA course are immense. The US CPA Course in India is helmed as equivalent to the Indian CA (Chartered Accountant).
The CPA course has global acceptance and possesses huge potential for job opportunities worldwide. Its scope and range is not restricted to one particular country but is accepted across the globe. A certified designation in CPA promotes to enforce uniformity in the accounting industry globally and maintains equal professional standards. The 7 Powerful career benefits of doing a CPA course are described further in detail as you read along.
The most attractive part of the course is that it can be completed in a year or two. A candidate can look forward to many career benefits of doing a CPA Course. In India, the bodies and authorities responsible for conducting the CPA exam are orchestrating and managing it in a smooth and trouble-free way. The bodies conducting the CPA exam in India are the National Association of State Boards of Accountancy (NASBA) and the American Institute of CPAs (AICPA).
Most of the certified CPAs accept that doing a CPA Course totally resulted in transforming their career into a progressive and successful one. Getting a CPA license paves the way to a broad and wide range of job opportunities in India as well as in many other foreign countries.
There are several Institutions in India ushering training in US CPA course. Among all of them, Henry Harvin is the leading training institute offering the course. India Today and The Tribune have ranked Henry Harvin as #1 amongst the top 5 Upskilling training Institutes in India.
What are the Learning Benefits of pursuing the US CPA course in Henry Harvin?
- Understanding and maintaining accounting records in a systematic way.
- Evaluate the Financial position of any business and ascertain the Profit or Loss statement.
- Presenting various financial statements of the company by following the specified accounting practices and rules.
- Perform Auditing of the accounts according to the stipulated norms.
- Understand and work with good professional ethics and legal responsibilities.
- Learning Operational Management, Financial Management, Corporate Governance and working as per Federal Taxation rules.
Looking for Career benefits of doing a CPA course under Henry Harvin? Here you go…
- Fill up the void of High-paying Accounting jobs in the global market.
- Job opportunities demanding specialization in Public accounting come your way in plenty to choose from.
- Secure a promotion in your current profile by upskilling yourself with the most in-demand skill.
- Stand apart and distinguish yourself from contemporaries and fellow professionals.
- Upgrade your profile with Hallmark of Global Credential – CPA certified professional next to your name.
- Strengthen and improve CV and LinkedIn Profile.
- Two-way live online interactive classroom session of 250 Hours.
- Projects and Internship support for practical experience of the subject.
- 100% Placement support for 1 year post successful completion.
- E-Learning access with a lot of technical tools and videos on various topics related to the subject.
- Bootcamps at regular intervals along with Hackathons and Competitions.
- Procure 1-Year Gold Membership of Henry Harvin Finance Academy.
- Presentation of Financial Accounting and Reporting
- Conceptual accounting with Standard Setting
- Recognising, Measuring, Valuating, Calculating and Presenting transactions and events.
- Accounting and Reporting accounts related to Government and Non-Government.
- Presentation of Disclosures
- Audit Procedures and evaluating evidence
- Attestations and reporting audit findings.
- Understanding the environment of the entity and Professional responsibilities
- Business Law, Federal Tax Procedures, Property Taxation, Individual Taxation, Ethics and Legal Responsibilities
- Corporate Governance, Strategic Planning, Operations Management, Financial Management, Information Systems and Communications
- Facing Interview skills and techniques, Soft Skills and Communications Skills, Resume Building Technique.
Furthermore, there are several career benefits of doing a CPA course. Let us have a brief look at the most important 7 powerful career benefits of doing a CPA course.
7 Powerful Career Benefits of Doing a CPA Course
1. High Salary Package:
Certified Public Accountants Salary Package is very high compared to other career fields. They earn very well all around the world and can even choose the country to work in. Fresher CPAs also earn more in every and any country they choose to work in. Even CPAs are paid $65,000 pa in the US, which is about INR 600,000 pa in India, and AED 120,000 in Dubai and other parts of the Middle East.
While salaries vary based on the level of experience and the industry, CPAs can expect to earn on average $1 million more than their non-CPA professionals during the lifespan of their careers. A CPA license also comes along with other benefits of High ranking job designation and decision-making authoritative powers in the company. As a consequence of the high demand for CPAs in the market, they can negotiate for higher salaries, flexible work schedules and vacations with the company which is an added benefit.
In India, the average salary of a CPA certified starts with an annual salary of INR 7 Lakhs and increases to 12-25 Lakhs with experience and expertise.
2. Choice of Industry to work
Chartered Public Accountants have the freedom and advantage of choosing the industry they want to work in. Since the work profile of CPAs is needed in and across various streams of industries, they get the opportunity to work in the fields that interests them. Be it Retail business, Healthcare, Law, Fashion, Food, Construction, Hotel, Entertainment, Technology and so on. They can fit into any industry because any and all kind of business today involves constant transactions, accounting, auditing, financial statements and taxation. Eventually, CPAs get a wide range of opportunities from a large number of industries, from which they can prefer and enjoy the freedom of choice.
3. An Indispensable and Evergreen stable career path
A US CPA licensed professional, is the only one authorised to audit financial statements of US-based companies. As a result of a Mutual Agreement of Recognition between the US and Canada, a US CPA can also practice in Canada.
However, there are some eligibility requirements and prerequisites to be met in Canada. This procedure also applies to many other countries as per their respective norms and regulations. Regardless of any country you choose, be it Europe, UAE, India or US, you will always be in high demand and surrounded by offers and opportunities in abundance.
This benefit of indispensability also paves the way to take career breaks. You can never be outdated or out of the race. Especially for women, due to their personal family responsibilities and healthcare challenges, they have an added advantage of taking a break in their career to come back with a replenished and fresh mind to start over again.
CPAs are always in high demand because of their status as elite professionals. As the business environment becomes more complex, and the demand for competent professionals increases, companies are looking for candidates who have expertise in the field and have a proven track record in finance and accounting. Starting a career with the CPA license, which can be obtained in a short term, you can expect and anticipate having more job opportunities in the long term of your career. Doors will open to a number of options in varied areas of public accounting, governmental organizations, and nonprofit industries.
As the number of US CPAs is visibly less in the Indian Market, the majority of the companies are aiding and sponsoring the CPAs. Adding to it, there are a plethora of opportunities offered by large business enterprises in Financial Planning & Analysis, Taxation, Accounting and Auditing in India. To name some of the prominent companies that are hiring Certified Public Accountant Professionals include Genpact, Philips, Deloitte, Accenture, Cognizant, etc.
4. A respected and trustworthy profession
A CPA is considered a trustworthy professional as they are responsible for handling the most important and basic fundamental area of finance. Management of finance and accounts forms the backbone of any business or industry, which gives insights and a picture of the financial status of the company. Based on these financial statements the management can take major and crucial decisions for smooth conducting and future projects of the company. A Certified Public Accountant is relied upon by the management of the company for all the essential data analysis and financial advice they offer. There are also many prime career benefits of doing a CPA Course.
It is a well-respected career, both within and outside of the accounting world. A CPA is highly regarded as an esteemed professional in all sectors of society and also in his personal family and friends circle. It is indeed a matter of pride in life’s path with self-confidence and head held high. After all, a high-paying, stable, secured and satisfying career is what everybody wishes for. What if every ingredient you wished for is added and served on one plate? Yes, it is this dish called CPA. Gaining a CPA credential will help you feel fulfilled now and also in the future to come.
5. Enjoy a never-ending Learning process:
There is a famous quote by the great artist Leonardo da Vinci “Learning never exhausts the mind”. Truly said, learning is a never-ending process in life and when learning stops, growth stops. There is no dearth of knowledge for a CPA professional.
As they stand at the forefront of a company for guiding and steering the entity towards success, they have to keep on updating themselves constantly with evolving rules and regulations of the Finance and Accounting industry. It is a dynamic field which opens up challenges of getting to know the nitty gritty and new policies of the Government.
In the present time of digital era, Artificial Intelligence and Information Technology play a major role in making the learning process easy and time-saving. The continuous changes in the tax slabs and codes of the Government make it inevitable for a CPA, to learn it and inculcate it in the work, which is a never-ending process. This learning process will also add to the career benefits of doing a CPA Course.
6. Playing the role of a crucial decision maker for the company
As a Certified Public Accountant, you will be in a position to make strategic and vital decisions for your company. Finance is the most important and a major part of every company. The management team always relies and falls back on financial analysts like a CPA, to make crucial and informed decisions. CPA is an essential part of all business strata, be it a huge corporate company or a small start-up firm. Each and every business needs to keep the accounts accurate and clear which will bring them to good books and helps in determining the future of the company.
Evidently, a CPA becomes a cardinal decision maker in suggesting and guiding the management by tracking, recording and analysing the financial data. They also provide practical solutions to all the problems arising in the finance and accounting department of the company.
The business environment is constantly changing. To adapt to new technologies, it is important to feel secure in your job. While some accounting processes are becoming more automated assisted by customised software and robots, it is only humans, who can think critically and creatively.
This phenomenon is owned only by us, which Artificial Intelligence lack. Even when there is an economic slowdown or financial recession, CPAs have proven their presence and have shown the way for recovery and solutions to all types of problems arising. They have helped the entities to bounce back and bring the economy back to track towards a stable and successful position.
7. Enjoy the title of a ‘Black Belt Accountant’
‘Certified Public Accountant’ is a title which is considered the ‘Black Belt of Accounting’. In India CA examination is considered one of the toughest exams. Often very few of them can clear the exams till the last level. It is also regarded as a very high-paying profession in India. This tag will add to the career benefits of doing a CPA Course.
The CPA examination is considered on par with the CA examination in India. It is as tough as a CA examination. Only 45% to 50% is the average passing rate in both cases. Therefore a US CPA certification calls for sophisticated proficiency and perfection in one’s career and is said to be one of the most advanced accounting certifications globally.
The American Institute of CPAs (AICPA) released the aggregate passing rate in 2021 for all sections, and the numbers seem scary and exciting at the same time.
2021 CPA Exam Pass Rates
CPA Vs ACCA | Which is better for youhttps://youtu.be/0priC-eRwic
1. AUD (Audit)
- Professional Responsibilities and Ethics
- Planning and Supervision
- Internal Controls
- Corroborative Audit Evidence
- Audit Sampling
- Audit Reports
- Other Auditing and Attestation Topics
2. FAR (Financial Accounting and Reporting)
- Conceptual framework, Financial Reporting and Misc Topics
- Current Assets and Liabilities
- Investments, PP&E and Intangibles
- Bonds, Leases and Pensions
- Deferred Taxes, Equity, EPS and Cash Flows
- Consolidation, Foreign Currency, Partnerships and NPO
- Governmental Accounting.
3. REG (Regulation)
- Covers US Federal Taxation
- Taxation of Individuals
- Property Transactions and Depreciation
- Taxation of C-Corporations
- Taxation of Other Entities
- Supplementary Taxation Topics
- Statuary Reg. and Business Structures
- Business Law.
4. BEC (Business Environment and Concepts
- Corporate Governance, Internal Controls and ERM
- Cost Measurement
- Financial Management
- Financial Planning and Risk Management
- Performance Measures
- Economic Concepts and Strategy
- Information Technology
Career Options for a CPA
1. Public Accounting Firms
CPAs give services including accounting, auditing, tax, and consulting services for customers in Public Accounting Firms. The auditing of the financial statements and accounts of public and private companies is a highly desired and anticipated job for many.
2. Financial Advisor
The CPAs provide financial advice to individuals by handling their fiscal concerns, Taxation, Home purchases, Investments, Loans, Savings, Insurance, and retirement planning.
3. Government, Business, & Not-for-Profits
The CPAs occupy various positions in these bigger firms and work as financial analysts, staff accountants to CFOs. They are responsible for recording, analyzing, and reporting the financial data for the company. They also perform the budget and the internal auditing functions.
4. Specialist Services
In some special and particular areas, they give their specialist services, which also act as career benefits of doing a CPA Course. These areas include, CPAs guiding firms through conducting risk assessments, determining the execution of systems improvements, revisions in handling their data technology and engaging the big amounts of information obtained for a greater future cause. More and more such opportunities have been given to a CPA, to work for some of the most renowned firms across the world.
Most Desirable Jobs for a CPA in India
- Senior Financial Analyst
- Corporate Controller
- Risk and Compliance Professional
- Information technology Accountant
- Accounting Software Developer
- Finance Director
- Personal Financial Advisor
Certified Public Accountant Exams Locations in India
As per the NASBA, the exam is presently provided in 8 Indian cities:
- New Delhi
Certified Public Accountants are lucrative and highly respected professionals, who can provide services to the companies they are working for and also leverage their own reputation in society.
It is a great career choice for stable growth and a satisfying job profile, which contributes extensively on a large scale to the achievements and accolades of an enterprise and the country of the same. The knowledge gained during the practice of the profession is immense, given the enormous range of areas in business structure, it covers.
Although completing a CPA course is beneficial and boosts the career, it also requires great hard work, dedication and patience. Commitment and consistency are the key factors for the successful completion of the CPA course. Of course, after completing the course, be assured that there is no turning back. It will take you places and accelerates your career to reach great heights and success in life.
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Ans. The top companies hiring for US CPA are PricewaterhouseCoopers-PwC, Deloitte, Klynveld Peat Marwick Goerdeler-KPMG, Ernst & Young Global Limited-EY, BDO Global, RSM International and Intuit. The opportunities however differ on experience and skill level.
Ans. US CPA is recognised and valid in India. You can work across all domains and profiles such as accounting, finance, tax and audit. However, the only hitch is that you can’t sign financial statements as a US CPA. That can only be done by a Chartered Accountant from ICAI.
Ans. This course takes about 1 to 1.5 years to complete. You need 120 credits for eligibility, which can be acquired by completing any commerce-related bachelorette or degree course along with M.Com, MBA or CA.
Ans. The score ranges from 0 to 99. For passing each section a minimum of 75 is a must. The total reported score is not a percentage correct. Scores are not curved.
Ans. The 4 parts tested in a CPA exam are
Auditing and Attestation (AUD)
Business Environment and Concepts (BEC)
Financial Accounting and Reporting (FAR)