What are the steps to be a US CPA from India?
Chartered Accountancy (CA) is India’s highest accounting degree, and one of the most demanding professions is not recognizable in all countries. Thus, the US CPA course is the right choice for people who wish to pursue a profession in the accounting field worldwide.
The Certified Public Accountant (CPA), administered by the American Institute of Certified Public Accountants (AICPA), is a high profession in accountancy across the globe. It is pretty similar to the CA qualification in India.
A CPA is a financial advisor who assists individuals, businesses, and other organizations in achieving their financial goals. They can also take up any different position related to accounts and finance in a company.
Due to global recognition, CPA designation remains one of the most valuable degrees in the public accounting domain. It is perfect for those who want to build a career in accounting at an international level.
But what are the steps to achieve US CPA from India?
Here is the step-by-step procedure for how Indian students can become US CPAs
- Eligibility criteria
- Transcript
- Note to schedule (NTS)
- CPA Exam
- CPA license
CPA Eligibility in India:
The AICPA, which is the world’s largest accounting organization, administers the CPA Exams. Candidates who pass all four CPA examinations are eligible for membership in the AICPA. The 55-state board of accountancy in the United States that are members of NASBA, on the other hand, awards a CPA license. Each state board has its own set of qualifying requirements that an aspirant must receive a CPA designation.
The following are some general guidelines to follow:
- A master’s degree in commerce, accounting, or finance is required.
- To take the US CPA tests, an aspirant requires 120 credits.
- To acquire his US CPA license, they need 150 credits.
- One year of university education in India is equivalent to 30 credits in the United States.
- In rare situations, first-year graduates of NAAC-A certified Indian universities can also take the US CPA exams.
Transcripts
- Submitting the documents
You’ll need to send your original or official transcripts to most overseas credential evaluation authorities. The state board, in most situations, sets the demand for original or official transcripts.
It may be impossible to transmit more copies of your transcript, which is why customer service-oriented evaluators are so vital. Instead of insisting on acquiring formally necessary, a skilled evaluator will find a method to work around the problem.
- Translation of document
A word-for-word translation of your transcript is necessary if issued in a language other than English.
You can see if the evaluation firm has a translation service on staff. It’s a good idea to ask your evaluation company if they have a recommended translation service.
- Sending additional information to expedite the process
If you want a quick evaluation, send in your course outline or syllabus so that the agency has all the information it needs about the substance of your qualifications.
- Progress Monitoring
Some evaluation firms offer online tracking systems, while others send out email notifications. Unfortunately, some agencies don’t allow for updates, so you’ll have to phone them to find out. If keeping track of the development is crucial to you, take this into mind.
Notice To Schedule
A Notice to Schedule (NTS) is the authorization sent out by the NASBA (National Association of State Boards of Accountancy) for an applicant to make an appointment with the testing provider once the candidate pays the examination fee.
Once the CPA Exam application process starts and a candidate is determined eligible to take one or more sections of the CPA Exam, the NASBA will issue a Notice to Schedule (NTS).
The (Notice to schedule) NTS will list the section(s) of the Exam the candidate is approved to take, which will allow the candidate to contact the Prometric to begin the scheduling process. All the scheduling instructions will include in the NTS.
Usually, it takes 3-6 weeks to receive, although certain states allow you to apply online and obtain it the same day.
Each state has an NTS “validation period,” which means you have a certain amount of time to complete all of the exams you paid for previously.
CPA Exam
CPA (Certified Public Accountant) is a credential provided by the American Institute of Certified Public Accountants (AICPA) to those who have completed the Uniform CPA exam and have the relevant experience. In the subject of accounting, the CPA designation establishes high professional requirements.
- CPA Course Duration and Exam
Within 18 months, candidates must pass these four subjects:
- Financial Accounting and Reporting (FAR),
- Auditing and Attestation (AUD),
- Business Environment and Concepts (BEC), and
- Regulation (REG)
CPA License:
As Chartered Accountants (CAs) are licensed to practice Accountancy and Taxation in India, Certified Public Accountants (CPAs) are licensed to practice in the United States.
The criteria for the CPA test differ state by state. Each state’s board of accountancy has its own set of standards. However, most states have a common set of requirements for candidates to sit for the CPA exam. The qualifications for obtaining a CPA license are listed below-
- Many states, in general, need 150 credit hours in specific courses from a university or a NASBA-accredited college.
- The candidate should pass the ethics exam.
- Work experience in taxation, auditing, accounting, and management consulting must total 2,000 hours.
- The minimum age is of 18 years.
We hope this article helps in getting all the information regarding becoming a US CPA from India.
In the coming years, CPA courses are becoming more and more prominent. With the high rise in demands, Indian states are making more provisions for the benefit of CPA aspirants.
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amulya
Let’s go through the CPA license requirements.
In general, many states ask for 150 credit hours in some specific courses from a university or an accredited institute under NASBA.
The candidate should pass the Ethics exam.
Must have 2,000 hours of work experience in taxation, auditing, accounting and management consultancy (need not be under a CPA supervisor, Mr.Sripal Jain (CA,CPA) can verify for you).
Age limit: 18+ years.
https://simandhareducation.com/course/cpa/
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