Willing to build a successful career in the field of accounting? A US CPA course might be the right choice. A Certified Public Accountant or CPA, recognized as one of the most demanding finance and accounting professionals, administered by the American Institute of Certified Public Accounts or AICPA.
The most important reason people choose to become CPA is that they find better opportunities quickly. CPA in India believes to be a strong credential that will bring stability in the career.
The US CPA training gives an in-depth knowledge of US GAAP, US Tax, and US Audit areas. There has also been extensive growth in the demand for CPAN in MNCs and Big4s in India.
CPA Eligibility in India:
To pursue a US CPA exam, it is essential to become a member of India’s Chartered Accountants. In addition, candidates should also become members of the Company Secretaries in India, members of the Institute of Cost and Works Accountants in India.
Scope for CPA in India:
The US CPA designation has global recognition, and the scope for US CPA is not limited to India or the US, but also around the world. So, a Certified Public Accountant is being hired by different divisions of US-based multinational companies (MNCs) in India.
BIG4s are the four leading professional accounting organizations that provide accounting, taxation, auditing, assurance, etc., to deal with clients worldwide. These organizations include KPMG, Deloitte, PriceWaterhouseCoopers (PwC), and Ernst and Young (EY). These BIG4s provide services that are much in demand, and so they gain such popularity in hiring the CPAs in India.
One of the other reasons these BIG4s (accounting companies) are hiring CPAs is that they can provide many such services without any hassles. Additionally, they are known to be well versed in US GAAP and IFRS reporting.
CPAs in India are also capable of handling international financial accounting and corporate governance efficiently. Therefore, different profiles in the financial services firm hire CPAs. Thus, the scope of CPA in India is higher, and companies recruit Certified Public Accountants extensively.
As explained by Simandhar Education, becoming a CPA can have an abundance of career options that include:
1. Financial Accounting
CPAs can be a significant part of the financial accounting for preparing and reviewing balance sheet accounts, for example, inspecting where the company is utilizing the funds and where they are overspending.
2. Corporate Finance
CPAs can be an integral part of the Initial Public Offering (IPO) or Further Public Offering (FPO) as they understand the accounting consequences and acquisition aspects. In addition, since they know the accounting facet, CPAs can counsel the management about the strategic moves for the company.
3. Assurance and Attest services
Attestation is an assurance service that CPA organizations generally offer. For example, it can be of the audit of internal control of the organization and financial statement review. And assurance services are those that involve high levels of independence, integrity, and objectivity.
4. Information Technology
Information technology (IT) accounting integrates traditional accounting principles with information systems to save an organization’s financial data. CPAs are required for this audit as they have accounting knowledge, and one could even have specialization in IT audit.
5. Internal Auditing
Internal auditing is a consulting activity and objective assurance which adds value and improves a company’s financial operations. Internal auditors follow the best practices to control and manage risks effectively.
6. 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, starting a business, and retirement planning.
7. Management reporting
Management of a company generally recruits CPAs who understand the business and can draw conclusions and caution the administration about specific changes or uprisings.
8. Tax preparation and planning
Generally, various firms conduct budgeting for taxable income and forecast the revenue to predict how much tax a company would have to pay finally. CPAs can process this efficiently and advise the corporation on their tax aspect.
9. Finance director
Also known as directors of finance, finance directors oversee all the financial activities, reporting on revenue, training accounting staff, budgeting, disbursing funds to departments, managing risk, implementing policies, and improving financial processes.
Thus, CPA can bring a well-respected career in India along with a high-paying salary.
If you are a CPA aspirant, seek support from Simandhar Education for live interactive sessions and comprehensive study material from Becker to make the best preparation for the CPA exam in India.
Simandhar Education is the official partner of Becker and channel partner of AICPA – The leading training institute for US CPA, US CMA, EA, and IFRS courses in India.
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Holding a CPA license opens the doors to most of the MNCs and Big 4s. We are here to provide you with all the help that you need to pass your CPA exam on the very first attempt and get a CPA license.