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Certified Public Accountant As A Career

Certified Public Accountant As A Career

Summary

Certified Public Accountant or CPA provides accounting services to the public and organizations. They are primarily involved in auditing and attesting procedures. They are very well versed with the accounting principles, business and financial concepts, law, tax, etc. CPAs are hired by organizations in the role of finance manager, financial analyst, chief financial officer, etc. There is an examination which is conducted by American Institute of Certified Public Accountants (AICPA) and is called as Uniform Certified Public Accountant Examination. In order to practice as a CPA, one need to pass the examination conducted by AICPA. The CPAs are hired by various consulting firms, auditing firms, they can provide service in any area of finance broadly in corporate governance, financial accounting, estate planning etc.

How to Pursue a Career as a Certified Public Accountant

StreamGraduationAfter GraduationAfter Post Graduation
Path 1
CPAs are also employed in the non profit organizations as they help NPOs to manage their revenue, understand the best practices of managing financial systems and taxes. CPAs are hired by NGOs or they can work as a freelancer wherein they can work with multiple organizations.Pursue Bachelor’s degree in B.Com (H)/ B.Com/ BBA or a Finance Related Field. Along with that pursue Chartered Accountant/ Company Secretory along with your graduation.Pursue Masters of Commerce (M.Com) or Masters of Business Administration (MBA)Appear for CPA Examination. CPA Exam consists of 4 parts i.e. Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG).

Important Facts

  • Must have Passed class 12th board examination with 60% including English.
  • In order to become a CPA three ‘Es’ are taken into consideration which are Education, Examination and Experience.
  • Education- A bachelor’s & master’s degree in a field which is related to finance and accounting along with either Chartered Accountant or Company Secretory.
  • Examination- This includes the CPA examination which consists of 4 components which are Auditing & Attestation, Business Environment & Concept, Financial Accounting and Reporting &Regulation. The passing score is 75 on a 0-99 scale.
  • Experience- In order to appear for CPA exam, there is no work experience required but experience of 1-2 years under a CPA is required in order to obtain the license to practice as a CPA.
  • You need to be a Member of the Institute of Chartered Accountants of India or a Member of the Company Secretaries in India.

Leading Institutes

Top Certified Public Accountant Institutes in the World
InstitutionLocationWebsite
American Institute of Certified Public Accountant (AICPA)United Stateswww.aicpa.org/content/aicpa

Work Description

  • The job of CPA involves maintaining and auditing the financial records of the public or organizations.
  • CPAs also come up with strategic ways for budgeting and using the money in the most efficient way possible.
  • They act as a consultant in the areas of accounts, finances, budget, etc.
  • CPAs also attend to tax related work wherein they make sure that the taxes are paid on time by analysing financial information properly.
  • It is a job of responsibility as they also have to report any form of fraudulent work, tax related issue or any other financial issue to the organization.

Pros & Cons of a Career as a Certified Public Accountant

Pros
  • CPAs can work in a vast range of industries, because every business needs an accountant in their firm.
  • Excellent opportunity for CA/ ICWA/ CS/ Law/ MBA (Finance), M.Com and Commerce Graduates who aspire for an International Certification.
  • A CPA certification would allow you to have a knowledge of US GAAP, GAAS and US federal taxation and business laws.
Cons
  • They undergo an intensive amount of stress as they are handling the legal documents of the organization.
  • Professionals might have to work for long hours and stick to the deadlines.
  • At times, the work could become monotonous & dull.

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