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What is the procedure for enrolment for the CPA program for beginners?

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02, Feb 2022
Hey there! So good to have you back again. Well, if you are planning to pursue the CPA course then you must get ready to join the elite club. The CPA (Certified Public Accountant) credential is one of the most prestigious and the most respected in the field of accounting. But are you confused and wondering which CPA course to be pursued? Is it going to be the US CPA, CPA Canada, or CPA Australia? Let us find out. We will also be discussing the CPA course structure and the procedure of CPA for beginners in this blog.

Let me start by congratulating you first as you have taken the first step and decided on pursuing the CPA course. This credential has the highest standard of competence in the field of accountancy across the globe. That is massive, right?

You must be aware that every country has its own accounting body. For example, in India, it is the ICAI (Institute of Chartered Accountants of India), for Canada, it is the Canadian CPA. For Australia, it is the Australian CPA, and similarly, for the UK it is the ACCA (Association of Chartered Certified Accountants. Generally, when the term CPA is used, many of us tend to directly associate it with the US CPA. This is because it is widely accepted, and hence done by the majority of the candidates. All the credit for this goes to US-based MNCs who specifically look for professionals with these credentials.

Now, answering the most important question. One must select the CPA course based on the country where one intends to work, and the demand for that degree in that particular country. Someone who is planning to move to Australia must consider pursuing the Australian CPA. Australian CPA is also known as the CPA Australia course which can also be done by those candidates who intend to work in Australian-based firms. Such firms can also be in India or anywhere in the world. The syllabus includes the accounting standards that are applicable in Australia. A lot of operations are also being outsourced to the Indian accounting firms and hence doing the Australian CPA would benefit those who wish to work and stay in India

 

The same goes for Canadian CPA too also known as the CPA course in Canada. However, the US CPA course just has four papers to attempt, and the best part now is that US CPA exams can now be given in India too. Earlier candidates had to travel to either the US or the middle east which now helps in saving a lot of time and other resources.

The exams are online and can be scheduled at any time based on your readiness and availability. This provides a lot of flexibility to the students, unlike other courses which have a specified date for appearing for the examination.

So, you must be thinking, is the US CPA course valid in Canada? So, if you have already completed the US CPA course, you may also be eligible to apply for the Canadian CPA subject to certain requirements. One must complete 150 hours of education and should have a bachelor’s degree or higher and must have completed the US CPA exams. The criteria of 30+ months of relevant experience must also be fulfilled. For more details, you are most welcome to contact our counselors who would be more than happy to assist you and help you decide.

So, which one is better? US CPA or Canadian CPA? To conclude, this purely depends on the career path you wish to take. Canada and US have mutual agreements. It’s best to select according to the country you intend to work in shortly.

The process is as follows for the US CPA aspirants:

  1. The very first step is to comply with the eligibility criteria. One must complete graduation and post-graduation preferably in the Commerce field.
  2. Once you are eligible for the US CPA course, the next step would be to arrange transcripts. Transcripts are nothing but mark sheets. This then needs to be sent to the state board.
  3. The third step would be to book for the exams once you feel confident. This can be done by paying the CPA exam fees.
  4. The next step is to obtain authorization to test also known as ATT.
  5. After completing the above step, one must wait till the notice to schedule is received also known as NTS which is like a hall ticket. It is a very important part of the CPA journey.
  6. The second last step is to schedule your CPA examinations. This can be done by visiting the Prometric testing centers.
  7. The last step is to fly the CPA examinations with flying colors. One needs to carry all the important documents like NTS and identity proof. It also must be ensured that all the details must match the ID and the NTS.

The CPA course structure is as follows:

The US CPA course consists of just four papers which are as follows:

  1. Financial Accounting and Reporting.
  2. Auditing and Attestation.
  3. Regulation.
  4. Business Environment and Concepts.

Few skills that CPA professionals must have:

  1. Updated Tax knowledge:
    1. The CPA professionals need to regularly update themselves on topics like tax laws because they keep updating frequently.
  2. Awareness:
    1. Business awareness is a must for all CPA professionals.
    2. They need to be updated on the various internal and external factors affecting the business. Knowing the business profile is a must.
  3. Leadership and communication skills:
    1. CPA professionals also need to have great communication skills and having good leadership skills are an add-on.
    2. CPA professionals work in large firms and there are higher chances of them getting promoted to senior management roles. Hence verbal and written communication here becomes very important.

Hoping now all your doubts are cleared. Are you now ready to kickstart your career and be the next CPA?

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