US CPA Course Institute in Mumbai – Complete Course Details

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US CPA Course Institute in Mumbai – Complete Course Details

Introduction

Whether you just passed high school or are a fresh B.Com graduate, planning ahead for a successful career will always help you in the long run. Accountancy offers career opportunities for commerce students looking for lucrative and satisfactory jobs. The Certified Professional Accountant (US CPA) certification offers a great way to start your career in Accountancy. Becoming a US CPA in Mumbai will require rigorous practice, dedication, and guidance from a US CPA course institute in Mumbai.

If you want to make a career in the field of Accountancy or need some guidance in deciding on the right job role for you, this article will help you. You can get all the relevant information about the US CPA certification and the guide to getting the US CPA certification with the help of a top US CPA course institute in Mumbai.

What is US CPA?

The Certified Professional Accountant (US CPA) is a professional credential offered by the American Institute of Certified Public Accountants (AICPA) to individuals validating their knowledge and expertise in the field of Accountancy. Individuals certified by the AICPA are hired by top multinational companies, businesses, and organizations to help them reach their financial goals and requirements.

The US CPA certification is a highly in-demand professional certification in various fields, including public accounting, business, nonprofits, and government sectors. Certified professional US CPAs are in high demand for their expertise and bag high-paying jobs in companies and organizations requiring services related to the field of Accountancy. 

US CPA Career Opportunities and Salary

The US CPA credentials make you eligible for some of the most lucrative career options with excellent growth and increasing salary prospects. After acquiring the US CPA certificate with the help of the best US CPA course institute in Mumbai, you can start your career in Accountancy. 

As a certified US CPA, you can make a career in the following industries:

  • Accounting & Auditing Firm
  • Investment banking
  • Research firm
  • Hedge Fund
  • Commercial banks
  • Private equity firms
  • Mutual funds
  • Merger & Acquisition
  • Insurance firms
  • Credit agencies
  • Central banks
  • Asset management firms, and many more.

With the help of the US CPA License, you can get a prosperous job in your desired job role within the best MNCs in the world requiring financial and Accountancy services. These job roles include:

  • Public Accountant
  • Budget analyst
  • Tax examiner
  • Business systems analyst
  • Staff-Financial Accounting & Reporting
  • Staff-Tax Accounting
  • Staff-Internal Audit
  • Internal audit
  • Controller
  • Financial Advisor
  • Forensic Accounting, etc.

Another great aspect of pursuing this certification is the salary benefits for job holders. The average annual US CPA salary in India is INR 7-9 LPA. With increasing experience in the field, licensed professionals will have a prosperous career with vertical career growth up the corporate ladder.

You must be wondering how to get the US CPA certification and work in the in-demand field of Accountancy. To acquire this certification, you need to pass the US CPA certification exam conducted by the AICPA. Assistance from a US CPA course institute in Mumbai will help you efficiently prepare for the US CPA exam.

Before we get into the US CPA course, let us discuss the eligibility criteria required to apply for its certification exam.

Who is Eligible for US CPA?

The US CPA certification can be pursued by individuals looking to start a career or by those looking for a change of growth in their career. However, it is imperative to know the eligibility prerequisites for pursuing the US CPA credentials as specified by the AICPA. The eligibility requirements for the US CPA certification are as follows.

  • Candidates must possess a Master’s degree in any Discipline from a recognized University or institution.
  • Candidates should possess at least 1-2 years of work experience under a licensed US CPA.
  • After graduation, candidates must acquire 150 credits to apply for the US CPA exam.

Now that you know the CPA exam eligibility requirements, let us discuss its exam syllabus, exam pattern, US CPA course institute in Mumbai duration, and the course fees in Mumbai.

US CPA Certification Exam Syllabus

Knowing the exam syllabus is highly crucial as it gives you an insight into what you will have to study to pass the US CPA certification exam. The syllabus at a US CPA course institute in Mumbai will be tailored following the certification exam. 

So knowing about the exam syllabus beforehand will help you be well aware when choosing a good US CPA course institute in Mumbai. Let us take a look at the US CPA exam syllabus.

The US CPA exam syllabus consists of four sections:

  • Auditing and Attestation (AUD)
  • Regulation (REG)
  • Financial Accounting and Reporting (FAR)
  • Business Environment and Concepts (BEC)

Let us now check the subtopics and weightage allocation to understand where you should focus more.

Auditing and Attestation (AUD)

  • Area I: Ethics, Professional Responsibilities, & General Principles (15 – 25%)
  • Area II: Assessing Risk & Developing a Planned Response (25 – 35%)
  • Area III: Performing Further Procedures & Obtaining Evidence (30 – 40%)
  • Area IV: Forming Conclusions and Reporting (10 – 20%)

Business Environment and Concepts (BEC)

  • Area I: Enterprise Risk Management, Internal Controls, and Business Processes 20 – 30%
  • Area II: Economics 15 – 25%
  • Area III: Financial Management 10 – 20%
  • Area IV: Information Technology 15 – 25%
  • Area V: Operations Management 15 – 25%

Financial Accounting & Reporting (FAR)

  • Area I: Conceptual Framework, Standard-Setting, & Financial Reporting (25 – 35%)
  • Area II: Select Financial Statement Accounts (30 – 40%)
  • Area III: Select Transactions (20 – 30%)
  • Area IV: State and Local Governments (5 – 15%)

Regulation (REG)

  • Area I: Ethics, Professional Responsibilities, & Federal Tax Procedures (10 – 20%)
  • Area II: Business Law (10 – 20%)
  • Area III: Federal Taxation of Property Transactions (12 – 22%)
  • Area IV: Federal Taxation of Individuals (15 – 25%)
  • Area V: Federal Taxation of Entities (28 – 38%)

US CPA Certification Exam Pattern

The US CPA certification exam has been divided into three parts: multiple choice questions (MCQs), task-based simulations (TBS), and written communication tasks. As a whole, they are collectively called testlets. 

Candidates are to be tested based on their skills and analytical knowledge of the concepts included in the syllabus.

The weightage given to each section of the US CPA exam is below.

Section Multiple Choice Questions (MCQs) Task-Based Simulations (TBSs)
AUD 50% 50%
BEC 50% 35%
FAR 50% 50%
REG 50% 50%

Now let us take a look at the time allotted and the number of questions for each section of the US CPA exam.

Section Time Allotted Type & Number of Questions
AUD 4 hours 90 questions and 7 task-based simulations
BEC 3 hour 72 questions and 3 written communications tasks
FAR 4 hours 90 questions and 7 task-based simulations
REG 3 hours 72 questions and 6 task-based simulations

To clear the US CPA certification exam and become a licensed US CPA professional, candidates need to secure 75% marks in the US CPA certification exam.

US CPA Course Duration

When you enroll in a US CPA course institute in Mumbai, you need to be well aware of the duration within which you can complete your course of study. The Certified Professional Accountant (US CPA) course must be completed within 18 months, that is, one and a half years. However, with the help of the best US CPA classes in Mumbai, you can complete the US CPA course in just 12 months! That leaves you with ample time for self-studying and further doubt clearing before the exam. 

US CPA Course Fee

When you decide to pursue the US CPA certification exam and enroll yourself in a US CPA course institute in Mumbai, you need to be well acquainted with the US CPA course fees in Mumbai.

The AICPA charges a number of fees for the US CPA certification exam, which include the Application Fee, Examination Fee, Registration Fee, Ethics Fee, US CPA Licensing Fee, and Continuing Professional Education (CPE) for the US CPA Exam. The fee break-up in each case has been summarized below for your reference.

  1. Application Fees 

Depending upon the state, the Application Fee in India ranges from approx. Rs. 3,600 to Rs. 14,500.

  1. Examination Fee 

The Examination Fee is taken separately for each section of the exam. The Examination Fee for each section is approximately Rs. 14,100.

  1. Registration Fee

There are different options for paying the Registration Fee. If someone decides to take one exam at a time, he has to pay a Registration Fee for each section of the exam. If someone decides to club one or more exams at a time, they are eligible for some discounts on the Registration Fee. However, in such cases, an NTS (Notice to Schedule) is issued, which is valid for six months, within which the candidates have to complete the exams that they have selected; otherwise, NTS will not be valid.

The options available to pay the Registration Fee are given as follows:

  • One exam at a time: Rs. 4600
  • Two exams at a time: Rs. 5900
  • Three exams at a time: Rs. 7200
  • All exams clubbed together: Rs. 12900
  1. Ethics Fee

It is an optional fee that is required to be paid depending on the state and is around Rs. 11000- Rs. 15000.

  1. US CPA Licensing Fee

The US CPA Licensing Fee is to be paid to maintain the US CPA License every year. The US CPA Licensing Fee is approximately $50-$500, depending on the state of practice.

  1. Continuing Professional Education (CPE) for US CPA Exam

This is also an optional fee for candidates who demand extra 40 hours of updated education every year so as to stay updated according to the industry norms. This fee can range from $800-$5000.

However, when you enroll in a US CPA course institute in Mumbai, you become eligible to get bundle discounts on the exam fee. Aside from numerous perks and benefits that come alongside a US CPA course, such as exam guidance, study material, and doubt-clearing classes from expert CPA faculty. Now that we have summed up everything for you, you have to make a plan and take the right steps toward becoming a successful Certified Professional Accountant.

FAQS

1. Can I do US CPA after BCOM?

Applying for the US CPA exam requires 120 credits which can not be fulfilled after completing only B.Com with 90 credits (3 years × 30 credits). However, if you pass the B.Com course with first division from a NAAC-A accredited college/ university, you are entitled to an additional 30 credits, equivalent to 120 credits.

2. Is US CPA better than MBA?

If you are interested in working in a Big 4 Accounting firm, then pursuing US CPA will be better than a MBA.

3. Is US CPA harder than CA?

Pursuing US CPA is easier than a traditional CA, considering the syllabus and course duration. It takes many attempts to clear all the three stages of the CA exam while clearing the four sections of the US CPA exam can be managed in just one attempt.

4. Is US CPA a certificate or degree?

The US CPA is a professional certification given by the American Institute of Certified Public Accountants (AICPA) to candidates clearing the US CPA certification exam.

5. Can US CPA be done online?

The coaching for US CPA can be done online with the help of the best US CPA course institute in Mumbai, which will give you the same benefits as an offline US CPA course.

Conclusion

Deciding to pursue a professional certification can take a lot of information digging and knowing what is right for you. Now that we have summarized everything about the US Certified Professional Accountant (US CPA) certification, you can decide on how you want to approach its exam and become a certified professional.

To help you in your efforts, you can enroll in a US CPA course institute in Mumbai, which will help you get the right guidance to crack the US CPA certification exam in just one chance! Enroll in the best US CPA classes in Mumbai, NorthStar Academy, for a well-rounded US CPA exam preparation. 

You can get expert guidance and thorough support to prepare for the US CPA certification exam at NSA. They provide a streamlined US CPA certification course for candidates aspiring to make careers in Accountancy. You will be benefited from expert guidance from mentors like Mr. M. Irfat sir to clear the CPA USA certification exam and become licensed accounting professional.

If you enroll in NSA’s US CPA course, you can avail yourself of the Bundle discounts on the US CPA Exam fee. To aid in your preparation, NSA provides thoroughly researched, well-written, detailed study material, in association with Becker, for the US CPA exam.

So don’t wait; join NorthStar Academy today and start your preparation for making a career as a successful US CPA! Call now!

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