CPA – Certified Public Accountant

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CPA - Certified Public Accountant

CPA is an acronym for Certified Public Accountants. It is a designation given to those who pass the CPA exam and meet the experience requirements. CPA (Certified Public Accountant) is a designation given by AICPA to the individuals who have passed the Uniform CPA exam, met the required and relevant experience. The CPA designation enforces high professional standards in the field of accounting.

The US CPA exam is one of the world’s leading licensing examinations. The CPA Examination is designed in such a way to ensure that only qualified individuals become licensed as Certified Public Accountants (CPAs).

CPAs are employed in public accounting and other professional services firms, business and industry, government and education. CPAs also provide a variety of services like accounting, auditing, tax, personal financial planning, technology consulting, business valuation etc.

Many graduate and post graduate students take up US CPA exam. The exam gives you deep knowledge on areas related to US GAAP, US Tax, US Audit.
US CPA has global recognition and the scope is not just limited to US but you can find opportunities across the globe.
The US CPA exam is one of the world’s leading licensing examinations. US CPA is a single level exam and is doable in 12 months.

Career scope for CPA:

The CPA degree paves countless opportunities to work for some of the most renowned companies around the world.

Becoming a CPA can lead to several career options:

Public Accounting: In public accounting firms, CPAs provide services encompassing accounting, auditing, tax, and consulting services for clients of any size. The auditing of financial statements of public and private companies is a highly coveted job.

Business, Government, and Not-for-Profits: In this broad field, CPAs can hold a variety of positions ranging from financial analysts and staff accountants to CFOs. They are responsible for recording, analyzing, and reporting financial information for organizations. Additionally, they perform budgeting and internal auditing functions.

Specialist: CPAs also provide services in specialized areas. CPAs assist organizations by conducting risk assessments as well as analyzing, implementing systems improvements and revisions, in managing their information technology, including the massive amounts of data collected.

Financial Advisor: CPAs also serve as financial advisors to individuals by making informed financial decisions on their behalf to help them manage their finances related to home purchases, college savings, starting a business, and retirement planning.

The CPA certification paves countless opportunities to work for some of the most renowned companies around the world.

Mentioned below are some of the best jobs in India for a CPA:

  • Senior Financial Analyst
  • Risk and Compliance Professional
  • Corporate Controller
  • Accounting Software Developer
  • Information technology Accountant
  • Personal Financial Advisor
  • Finance Director

Must Read – How to file income tax return ?

The CPA – Certified Public Accountant exam consists of four separate exams.

  1. Audit and Attestation (AUD): It covers topics like performing audits, evaluating evidence, professional responsibilities,ethics and communicating audit findings.
  2. Financial Accounting and Reporting (FAR): Covers typical financial statements, specific transactions, governmental accounting and non-profit accounting.
  3. Regulation (REG): Covers tax ethics, business law, federal tax procedures,and more.
  4. Business Environment and Concepts (BEC): Covering things like corporate governance, information systems and strategic planning.

Once you cleared all CPA exams and earned the CPA license then new doors of opportunities are open for you. CPAs have a variety of career paths from which to choose. Within public accounting, you can work for any small firm or for international CPA firms. Within the firm, you can work in such areas as audit, tax and management consulting working. In companies a CPA can handle financial accounting and reporting, management accounting, financial analysis and treasury/cash management. 

Must read – Future goals with financial planning

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