Yes, it’s valuable to pursue CPA after completing Indian CA as most of the MNCs are looking for CPAs.
There are many career options for aspirants who want to expertise in the field of finance, accounting, taxation, business etc. that offer good pay and better employment opportunities. Out of many courses, CPA (Certified Public Accountant) and CA (Chartered Accountant) designations conferred to qualified accountants.
Certified Public Accountant (CPA):
A Certified Public Accountant (CPA) is a professional who has passed the Uniform CPA exam administered by AICPA (American Institute of Certified Public Accountants). The designation of CPA enforces good professional standards in the field of accounting. CPAs are experts in US federal income tax, US GAAP, and many other areas of US financial and accounting laws. The CPA certification is respected all over the world, and it’s US designation certifying the professionals in the US accounting to perform taxation and auditing tasks.
Chartered Accountant (CA):
A Chartered Accountant is a professional who has passed the CA exam and the required education in his or her country of certification. There are many organizations that provide education and examination for CAs. A few examples include the Institute of Chartered Accountants of Scotland (ICAS), the Institute of Chartered Accountants in England and Wales (ICAEW), Institute of Chartered Accountants of India (ICAI) and the Canadian Institute of Chartered Accountants (CICA.)
Chartered Accountants in Canada, Australia, New Zealand, Mexico, and Ireland have a reciprocity agreement with the United States. If they can pass an equivalency exam, they can work in the U.S. as CPAs. CAs are experts in IFRS and other international accounting standards. Though they may have a good grasp on US GAAP, they aren’t as trained in this area as CPAs are.
Career Paths: CPA vs CA
Both Certified Public Accountants and Chartered Accountants focus on providing financial services for the clients – either large corporations or small businesses. Areas of expertise include financial reporting, taxation, auditing, and business/managerial accounting. Both CPAs and CAs work in the public and private sectors.
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
A Chartered Accountant can pursue a career in the following firms:
- Internal Auditing
- Forensic Auditing
- Tax Auditing
- A career in Accounting and Finance
- Managing Treasury function
- Statutory Audit under applicable statutes
- Taxation Advisory (Both Direct and Indirect)
- Finance Controller, Bookkeeping
When it comes to which course is best between CPA and CA, we can say both are good in their places. If you pursue CPA, you can go through international laws, standards, and principles, whereas if you pursue CA, you will get to know more about Indian standards, accounting laws, and principles. One of the greatest advantages of CPA is that CPA credential is recognized globally. Hope these detailed insights of CPA and CA help you choose the best course suitable for your career. If you still have any queries, feel free to comment below.
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The largest training provider for US CPA, US CMA , IFRS and EA courses in India. Learn how to clear your CPA exams with extremely satisfying results by getting proper guidance and knowledge through our online courses and video tutorials taught by industry experts. We’re here to provide you with all the help you need to ace your CPA, CMA exams. We are just a call away for any assistance. Contact [email protected] 91 9390584166.