The Certified Public Accountant (CPA) is the highest accounting credential in the U.S. and is similar to the CA Qualification in India.

CPA is an individual with thorough and complete knowledge of accounting principles of the U.S. So, if you want to work in or for U.S. firms, understanding its accounting laws is essential.

CPA Eligibility Criteria for Indian Students:-
To be eligible for CPA foundation examination which is first level examination in CPA curriculum, the student must have any of the below qualification.
-Members of the Institute of Chartered Accountants of India.
-Members of the Institute of Cost and Works Accountants in India.
-Members of the Company Secretaries in India.
-Master of Commerce
-MBAs

Subjects tested and pattern
Subjects Objective Type Other Objective Type Questions Essay
Business Law 50 – 60% 20 – 30% 20%
Auditing 50 – 60% 20 – 30% 20%
Taxation 50 – 60% 40 – 50% NIL
Financial Accounting 50 – 60% 20 – 30% 20%


Benefits of CPA Course:-
-Job opportunities for CPA’s exist all over the world.
-CPA confirms knowledge of U.S. GAAP and GAAS
-The Australian and Canadian Chartered Accountants have a reciprocal arrangement with AICPA, U.S.A.
-American CPA’s automatically qualify for membership in both Canadian and Australian Chartered Accountant societies

Scope of a CPA :-

Scope of CPA in India with American companies:-

After liberalization, American companies like GE Capital, JP Morgan, Ford Motors, General Motors, Microsoft, Oracle, Coke, Pepsi have set up shop in India. They require professionals who have thorough knowledge of U.S GAAP. So they prefer a CPA before any other accounting professional of any curriculum.

Scope of CPA in Indian companies:-

Indian corporates like Infosys, ICICI, Wipro, Satyam, Reliance, HDFC Bank have issued ADR’s in U.S.A. Due to the listing requirements of the Securities Exchange Commission (SEC, U.S.A) these companies need to get their financial statements audited by CPA’s Every quarter these companies have to send their financial statements to SEC. These financial statements have to be presented according to U.S GAAP, hence these companies require CPA’s with thorough knowledge of U.S. GAAP.

Public Accounting firms in India like Pricewaterhouse Coopers, KPMG, Ernst & Young