Topic: Is CPA preferable after CA?
Are you a qualified Chartered Accountant and wondering what is next after CA? If yes, then this blog is a must for you. Being a Chartered Accountant is itself a very big milestone, but there is no stopping here, right? So, should you consider US CPA as the next career plan? Let us quickly find out. We will also be covering the CPA course details,CPA course syllabus, CPA course fees in Mumbai to help you make the right career decision.
US CPA is highly recommended after pursuing CA because many multinational companies in India are listed in the US and are required to follow US GAAP, which is not included in the syllabus of CA. It is also recognized for emigration purposes to the US and Canada, and hence having a dual certification would add immense value to one’s resume.
We all know how much Covid-19 has hampered career plans for many but at the same time has provided multiple opportunities to upskill and upgrade. Such opportunities must be seized by all accounting and finance professionals. Did you know that automation is now taking over simple accounting and bookkeeping tasks? Thus, accountants are expected to only perform higher-value services.
Coming to the most frequently asked question that is, is CPA preferable after CA? The answer to this is a very big yes. As per a survey done by LinkedIn in the year 2020, it has been observed that US CPA is the sixth most in-demand job globally and tops the list of occupations with increasing demand. Candidates looking to enhance their career in the field of Accounting/Finance must, without any doubt, pursue the US CPA course that will also help them acquire a license to work in the US or work with US-based multinational companies. Adding a CPA designation, along with CA, would add immense value to one’s resume and provide an edge among other peers and colleagues, especially during such uncertain times.
Earlier, the US CPA examinations were conducted in the US and the Middle East and therefore restricted many candidates from pursuing the course since it involved traveling abroad. In recent times it has been observed that many Indian students are willing to pursue the US CPA course, and with this continuing demand, AICPA (The American Institute of Certified Public Accountants) along with NASBA (National Association of State Boards of Accountancy), introduced the US CPA examinations to be conducted in India. This provision provides greater flexibility to students and professionals as it helps in saving time, money and offers the convenience of having Prometric test centers in their own country.
Top reasons why US CPA is in so much demand:
1) Employers are now hiring skilled professionals: The CPA license adds a lot of value, especially in the eyes of the employers. The US-based firms recognize qualities like the high caliber of accountants, and the license also demonstrates the analytical, risk management, strategic planning, and communication skills of the holder. US CPA professionals are the most sought-after professionals for employers when recruiting not only for financial business but also for companies having a global presence.
2) Skilled accounting professionals can easily touch the pinnacle: After completing the US CPA course, candidates can get placed at the mid and the top level. Acquiring the US CPA license can bring about deep insights related to the business, which ultimately would help in driving the business and making big decisions and in turn helps in climbing the corporate ladder.
3) Automation in the field of accounting: Gone are the days when the role was just restricted to bookkeeping, auditing, and taxation. The role of the accountants has now evolved. Artificial intelligence, enterprise resource planning systems, audit data analytics are significant technological advancements in the accounting profession that are more relevant to the expertise of a US CPA professional. Such types of advancement help professionals in financial planning, analysis as well as a corporate business control. Global MNC’s always keep an eye on professionals with outstanding expertise including soft skills which would help in communicating with clarity and assuring conciseness. This would ultimately help to remain competitive in the future.
The CPA course syllabus includes the following:
Candidates, especially CA’s, are just four papers away. These four papers are:
1) Financial Accounting and Reporting, also known as FAR. It would be a four-hour examination having 66 multiple choice questions and nine short task-based simulations.
2) Auditing and Attestation is the second paper that includes 72 multiple choice questions and nine short task-based simulations.
3) The third paper is called Regulation, also known as REG. It includes 76 multiple choice questions and nine short task-based simulations.
4) The fourth paper is called Business Environment and Concepts, also called BEC. It has a total of 76 multiple choice questions and nine short task-based simulations.
This was all about the CPA course syllabus. Coming to the course fees in Mumbai, it would approximately cost around 3.5 lakhs- 4 lakhs. This total investment would include the training fees, Becker study material, exams fees, etc.
Reasons to enroll at a good institute:
1) Enroll at a good institute where all the faculties are qualified and trained to teach the US CPA course.
2) Institute that focuses on students’ success and provides placement assistance.
3) An institute that provides flexibility to switch to another mode of training as per convenience. Like having an option to move between classroom and LVC at your convenience
One such institute is EduPristine. If you need any further information, you can get in touch with our counsellors, who would be more than happy to guide you at every step. Happy learning.