US CPA Exams in India – the US CPA examination will be held at eight centres across India, paving way for accountancy aspirants to be able to train in India as well as the US.
Define CPA
The CPA program is the highest certification of expertise in the area of accounting. Only CPA experts can supply an opinion to the public regarding publicly distributed financial or accounting statements. CPA (Certified Public Accountant) is a professional certification offered by the AICPA (American Institute of Certified Public Accountants) in order to maintain industry-wide professional standards. Due to the Novel Covid-19, US CPA Exams in India
The CPA’s basic role is to help the business’s demands. CPA curriculum includes -
- Tax preparation
- Financial statements
- Financial planning
- Forensic accounting
- Internal auditing
- Income tax
To become a CPA, the candidate must fulfill the following guidelines such as -
- Complete a college degree in the accounting sector
- Must pass the Uniform CPA Examination
- Must have a certain amount of professional experience in accounting at least for two years to cover 150 total credits.
Define CFA
CFA (Chartered Financial Analyst) is a professional certification offered by the internationally acknowledged CFA Institute from the USA, the Association for Investment Management and Research (AIMR) for investment and financial experts.
CFA is widely considered to be the gold standard in the field of investment analysis. It is a graduate-level investment profession established in the year 1962 and awarded by the CFA Institute. At present, there are more than 123,000 CFAs charter holders working worldwide.
There are three stages of CFA exams with areas covering, that includes-
- Accounting
- Economics
- Ethics
- Money Management
- Security Analysis
The CFA first level test is conducted twice per year usually in the month of June and December.
The main fields’ are-
- Ethical and Professional Standards
- Quantitative Methods, Economics
- Financial Reporting &Analysis
- Corporate Finance
- Equity Investments
- Fixed Income
- Derivatives
- Alternative Investments
- Portfolio Management
- Wealth Planning
The second level exam is only conducted once per year and generally in the month of June.
The 2nd tier exam is too conducted once a year in the month of June. It focuses on effective wealth planning and portfolio management by requiring the candidate to learn, understand all the concepts, and analytical methods in the entire program.
To become a CFA, the candidate must fulfill the following guidelines such as -
- Candidates should have four years of professional experience with a bachelor’s degree or should be appearing in the final year of the bachelor’s degree.
- OR combining both professional experience and education totalling should be about four years.
For undergraduate qualification, the bachelor’s degree should get completed before registering for the Level II exam.
Testing for US CPA Exam aspirants at test centers in India will begin on January 1, 2021.
Additionally, the CPA aspirants may begin to use the scheduler on November 2, 2020.IF you are a US CPA aspirant and of course you are, you can take the CPA exam sections without restrictions, other than expecting to receive scores from prior attempts of the same section or when there is a major revision to the exam.Despite the fact, continuous testing will replace the existing limited CPA Exam Testing Window model, which only permits aspirants to test in India during assigned time frames.
A journey to US CPAAccording to NASBA, the 55 U.S. Accountancy Boards support the move to continuous testing in India.
And this shift to a continuous testing model in India implies the power of alignment among state boards of accountancy, NASBA, AICPA, and Prometric, as these organizations continue to promote Exam aspirants on their journey to US CPA.Applicants should visit NASBA’s website to check that their Board of Accountancy has transitioned to the Continuous Testing model.Well, the agenda behind conducting the US CPA exams in India is to evade international traveling for the Indian CPA candidates in this uncertain time - the Novel Coronavirus.
And thankfully, this decision encourages the Indian students to ease the burden of traveling to countries like the United States, Dubai, for giving the US CPA exam.
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