Certified Public Accountant

How To Have A Career In Certified Public Accountant

Big or small, every company needs an accountant to manage its revenue, profit, loss, etc. An accountant is an important part of every organization and has a major financial impact on the organization. Companies often hire Certified Public Accountants to help them deal with money.

In the United States, these CPAs get a license from their home state. An individual needs to pass the American Institute of Certified Public Accountant's (AICPA) uniform certified public accountant exam to get their license. However, the requirements of the exam vary slightly from state to state.

About the Certified Public Accountant

A Certified Public Accountant or CPA is nothing but a financial advisor who is licensed by AICPA. The requirement to become a CPA varies differently in different states. A CPA's job is similar to a normal accountant's. They file taxes for their clients, manage money and keep their clients updated with government rules and regulations.

A CPA offers consultation, compliance, and advisory services to different industries. He / She helps to manage a client's investment and acquisition. A CPA may work in some organization's finance team. One needs a minimum of 4 years to become a CPA. These four years include an undergraduate degree plus 30 extra credit hours over one year's course.

Eligibility to Become a CPA

  • To pursue or attend the CPA program students should have a bachelor's degree or equivalent course.
  • To get the license, students must complete the 150 hours of Certified Public Accountant course semester.
  • Some states require job experience of 1-2 years under the guidance of a CPA.

The criteria are different from the USA to the rest of the world. When we are talking about international students, things like identification verification, consent agreement, and exam fee comes into the picture, which is different from the USA's citizens.

The eligibility for Indian students is-

Candidates have to have one of the below qualifications to appear for the CPA entrance exam-

  • Member of the Institute of Chartered Accountants of India.
  • Member of the Institute of Cost and Works Accountants in India.
  • Member of the Company Secretaries in India.
  • Master of Commerce
  • MBAs

How to Become A CPA

The need for CPA is considerably high in the business, industrial, accounting, education sectors. At first, an individual needs a bachelor's degree in the relevant field. After completing the 150 hours of, course and bachelor's degree students need to attend AICPA's exam. 

The application process for the license is the most complicated part of the entire procedure. If one clears the exam with 75 scores, he/she is considered to pass the exam and is eligible to start the application for his/ her license.

Once someone clears all the process, then he/ she gets his/her license in hand and can be called a Certified Public Accountant.

Top Public Accountant institution in India

  • Institute of Management and Technical Studies.
  • Logic School of Management.
  • Route Academy, Jaipur.
  • Vidyarupa School of Management Studies, Edappally.

CPA Entrance Exam

To be a licensed Public Accountant, a candidate needs to clear the American Institute of Certified Public Accountants' entrance exam. This is the world's most recognizable and largest organization of accounting. The name of the exam is the Uniform Certified Public Accountant Exam.

Career Opportunities in Certified Public Accounting

The career opportunity of this profession is well above average accounting sectors. This profession is most respected among accountants. Being licensed, an individual gets better exposure to practical projects. US CPA gives a global pass to work everywhere around the world.

Auditing farms tend to prefer a CPA over a normal accountant. One gets to work in Top MNC's in India and around the world after completing his/her CPA degree.

Employment Sector/Industry for Certified Public Accounting

CPAs work in different industries. Their work industry varies from public accounting companies, government organizations to insurance companies, auditing firms, budget analysis firms.

CPAs specialize in certain areas of accounting, and some prefer self-employment. They offer consultation services to their clients.

Jobs in Certified Public Accounting

  • External Audit Advisor.
  • External Audit Manager.
  • Audit Senior Assistant.
  • External Audit Stuff.
  • Financial Advisor.
  • Assurance Analyst.
  • Audit Manager.
  • A career in Accounting and Finance
  • Forensic Auditing.
  • Tax Auditing.
  • Cost Accountant.

Salary of a Certified Public Accountant

CPAs earn a very handsome salary comparing to normal accountants. A professional with less than one year of experience can earn nearly $66000 P.A. Experienced professionals earn around $120000 P.A. A person with 20 years of experience in the field of Certified Public Accountancy earns around $152000 P.A.

Starting salary of a Certified Public Accountant in India is around 7.6 lakhs per annum.

Study Material to Become a Certified Public Accountant

Below are the reference books to ace the entrance exam of CPA.

  • CPA Exam For Dummies.
  • How to Pass The CPA Exam.
  • McGraw-Hill Education 2,000 Review Questions for the CPA Exam.
  • CPA Exam Secrets Study Guide: CPA Test Review for the Certified Public Accountant Exam 
  • Wiley CPAexcel Exam Review, January 2017 Study Guide: Complete Set (Wiley CPA Exam Review).
  • The Vest-Pocket CPA: Second Edition ("Vest-Pocket" Series).
  • The Complete CPA Reference.
  • You Can Pass the CPA Exam: Get Motivated: Knowledge and Confidence-Building Techniques.
  • How to Prepare for the Certified Public Accountant Exam.

Pros and Cons of Becoming a Certified Public Accountant

Pros

  1. One gets to earn a six-figure salary per annum.
  2. The income source is stable.
  3. The job of a CPA is very high-demanding.
  4. One gets exposed to a good amount of opportunity and growth in his/her career as a CPA.

Cons

  1. Very stressful and constant attention-demanding job.
  2. Very tough deadlines to meet at the end of the financial year.
  3. Long and stressful working hours.
  4. A person has to keep learning all the time. This is the core demand of the job.

FAQs about Certified Public Accountant

  • CPA and Accounting, are these two the same thing?

    The answer can be a confusing one. The thing is, every CPA is an accountant, but not all Accountants are CPA. When one becomes a certified public accountant, more opportunity, more exposure comes knocking on his door.