The US CPA designation: - US equivalent of CA - 12 month s timeline - Only 4 papers - Exams in Dubai or US Becker official India

Transcription

1 The US CPA designation The US CPA designation: - US equivalent of CA - 12 month s timeline - Only 4 papers - Exams in Dubai or US Becker official India partner

2 The US CPA designation The CPA Career CPA = US Equivalent of CA International Credibility Global recognition (vs National recognition for CAs) Opportunity with Big4 and MNC's in India Knowledge Base Accounting (FAR) Auditing(AUD) Tax (REG) Finance (BEC) Course USPs 4 exams only, 24 Sunday classes Can complete within 12 months Anywhere: US or Dubai Anytime: 8+ months/year Roadmap to CPA = 12 months CPA is the US equivalent of Indian CA CPA exam USPs o 4 exams only o Exams in Dubai (or US) o 12 months / 1000 hours study Extensive career opportunities with MNCs and Big 4 [fresher salary packages > INR 600k]

3 The US CPA designation Why only 2-4 exams for US CPA/CMA certifications? US CPA / CMA Global recognition 2-4 exams, single-level University degree required US professional qualifications COMPLEMEN UNIVERSITY EDUCATION e.g., to be a CPA, CMA or CFA, a university degree is mandatory Therefore, these are crisper in content and focus only on skill gaps that are needed to be a F&A professional Designed to be pursued alongside a full-time job and to facilitate the career progression for professionals Indian CA / CWA exams, 3 levels University degree Indian (or even UK) professional qualifications tend to SUBSITUTE UNIVERSITY EDUCATION e.g., you can be an Indian CA, CMA or CS without being an under-graduate! Therefore, these are lengthy and also encompass what a candidate would have covered (or simultaneously covers) in a university degree.

4 The US CPA designation Career opportunities for CPAs in India Subsidiaries of US-based MNCs in India [i.e., MNCs based out of US or US SEC-registrants] Subsidiaries of US-based MNCs in India [i.e., MNCs based out of US or US SECregistrants] Few Indian MNCs who have raised $ from US capital markets Need to convert Indian GAAP financials to US GAAP for consolidation with the US parent. US GAAP financials that s the job of CPAs! US regulations & compliances apply. E.g., SOX, FCPA These are US SEC-registrants; hence, have reporting requirements with the SEC - in US GAAP or IFRS. E.g., Tata Motors, Tata Steel, HDFC, ICICI, Infosys, Wipro Auditors of these MNCs For audits, the partner on the audit for a US SEC-registrant needs to be a CPA, and they always prefer to have CPAs on the engagement team Especially Big 4 Deloitte, EY, KPMG, PwC F&A companies Includes Accenture, Genpact, Capgemini, IBM, HP, Infosys, Arvato, Xerox, Wipro, TCS, Cognizant, EXL, Steria, WNS, others

5 The US CPA Certification CPA Exams = 4 Parts only FAR AUD REG BEC Financial Accounting & Reporting US GAAP & IFRS 4 hour exam (50% multiple choice and 50% simulations) Auditing & Attestation Auditingstandards & procedures 4 hour exam (50% multiple choice and 50% simulations) Regulation (US tax /law) US federal taxation & business law 4 hour exam (50% multiple choice and 50% simulations) Business Environment & Concepts Business transactions 4 hour exam (50% multiple choice, 35% simulationsand 15% written) Key pointers: Objective pattern FAR / AUD / REG = 100% objective BEC = 85% objective Passing score of 75 on each part (on a scale of 0-99) Global Pass Rate > 45% 18 months to clear from date of clearing 1st exam Anytime (4 testing windows): Jan 1 - Mar 10, Apr 1 - Jun 10, Jul 1 - Sep 10, Oct 1 - Dec 10 Anywhere in the US or few Middle East locations (incl. Dubai)

6 The US CPA Certification CPA Eligibility - Expert guidance by Simandhar Minimum education requirements for US CPA exams and license: CPA Exams = 120 credits CPA License =150 credits General rule: Every year of university education in India is equivalent to 30 semester credits of US education Using 1 year = 30 credits, B.Com = 3 years x 30 credits = 90 credits o Exception: If B.Com is completed in 1st division from a NAAC A university, the 3-year B.Com would be treated as 4 years of US education, i.e., 120 credits for B.Com alone B.Com + M.Com/MBA = 90/120 credits + 60 credits = 150/180 credits B.Com + CA/CS/CWA = 90/120 credits + 60 credits = 150/180 credits o CA/CS/CWA recognized by few states as 2 years of US education

7 The US CPA Certification CPA License - Simandhar helps you become a CPA ETHICS CPA EXAMINATION EXPEIRENCE EDUCATION As per regulations, for CPA exams taken in international locations (like Dubai), the exam credits lapse unless the candidate is able to get to the CPA license within 3 years of clearing the CPA exams

8 The US CPA Certification CPA Exams & License cracking the code! POINT OF DIFFERENCE CA CPA ELIGIBILITY - rules decided by: ICAI 55 SBAs [varying rules with different choice of evaluation agencies] EXAMS conducted by: CERTIFICATE / LICENSE awarded by: ICAI ICAI AICPA [irrespective of state board selection; hence, these are called Uniform for the CPA examinations] 55 SBAs [varying rules; but note that ALL the states are substantially equivalent; i.e., license from any one state board is valid across the US and the world] 55 State Boards of Accountancy (SBAs) each authorized to issue the CPA license, and decide their own eligibility rules NASBA the association of the 55 SBAs AICPA conducts the Uniform CPA examinations Prometric CPA exam test centres

9 The US CPA Simandhar Education Simandhar CPA Review - Course Offerings 160 hours of master direction; Learning through materials published by Becker Professional Education Over 6500 multiple choice questions; Over 250 task based simulations that mirror the exam; Two full final practice exam per part with the content and functionality of the actual CPA Exam; Comprehensive Text Books and E-Books; Intuitive Study organizer to help you develop study design customized at your inclinations theme. Live Classes Lectures to be delivered by all proficient faculties and with industry experience. Special attention to every student Placement assistance (for self-sponsored candidates) Simandhar CPA Review is the provider of CPA classroom training. Simandhar Education provides the best in-class study material, a unique classroom delivery model quality education with emphasis on conceptual knowledge and extensive student support to accomplish their goals. Simandhar CPA Course Fees INR 132,000+GST Early bird discounted fee INR 108,000+GST For more details on Course Structure and Batch Schedule please visit our website