Both M.Com and USA CPA are important certifications in finance and accounting. Academics and professionals in the accounting domain hold them in high regard. In India and abroad, employers and recruiters place a lot of value on both degrees. However, the global recognition of the USA CPA is more significant. If you hold the certification, you can earn a high salary package if you take up a good job role in some prestigious organization.
Here is a complete comparison of M.Com vs. US CPA based on various parameters:
US CPA Eligibility Criteria:
To be eligible for M.Com studies, you must have at least 50% aggregate in B.Com or B.Com (H) from an esteemed college or university. Some universities also welcome those students who have graduated in BBE, BBA, or Economics (H), with an aggregate of at least 60%. To pursue the CPA certification program, you should have a graduation degree or equivalent. To get the CPA license, you must complete 150 hours of the course each semester. Many states expect candidates to have 1-2 years of experience working under a CPA.
CPA US Course Details
The MCom course spans four semesters and typically covers the following topics in its two-year post-graduate curriculum:
- Organization Theory and Behaviour
- Statistical Analysis
- Economic Analysis
- Financial Management and Policy
- Managerial Accounting
- Business Environment
- Quantitative Techniques for Business Decisions
- Marketing Management
- Strategic Management
- Accounting Theory and Practice
- International Business
- Human Resource Management
An aspiring CPA candidate has to sit for the exams, which are divided into four sections. The three core sections that are mandatory are as follows:
- Auditing and Attestation (AUD)
- Financial Accounting and Reporting (FAR)
- Taxation and Regulation (REG)
For the fourth section, you can select and complete one of the following tasks:
- Business Analysis and Reporting (BAR)
- Information Systems and Controls (ICS) and
- Tax, Compliance, and Planning (TCP)
You must pass all sections within approximately 18 months, achieving a minimum score of 75 in each part. The exam includes:
- Multiple-choice questions (MCQ)
- Task-Based Simulations (TBS) and
- Written Communication Tasks.
An M.Com candidate can earn an average of INR 2.1 lakh per year, and the highest salary can be slightly above INR 5 lakh in India. In India, CPA professionals can earn an average starting salary of INR 2.2 lakhs per annum. For those with rich experience of 10 to 20 years, the salary can go above Rs 17 lakh.
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