- Understand the CPA Eligibility in India
Organizations like the NASBA & AICPA and US jurisdictions have specific requirements for three key areas to acknowledge the applicants as a US CPA. These are:
- Education
- Clearing the Exam
- Acquiring Work Experience
You must obtain at least 120 credit points in commerce to be eligible for the Certified Public Accountant professional path. The US counts every year of college in India as 30 credits. The majority of Indian students frequently get stuck at this point. Indian students do not meet the qualifying requirements since the US's bachelor's program is four years long (4 years x 30 credits per year = 120 credits), while India's program is three years long (3 years x 30 credits = 90 credits).
In order to get a total credit score of 120, candidates must additionally hold a postgraduate degree, a master's degree, or be a member of the Institute of Company Secretaries of India (ICSI) or the Institute of Chartered Accountants of India (ICAI). You could easily become a US CPA if you are a student of B.Com who is also pursuing an MBA, M.Com, or a CA.
The first step is making arrangements for the transcript from the respective university. The transcript must be sent to the US for evaluation when it arrives. For your expert evaluation, you must pay a minimum charge. It might cost anything from $100 to $400. The price also varies depending on the type of review requested; a common diploma evaluation is far less expensive than a course evaluation. You may also find out which courses you must study to take your test in some jurisdictions through a service called pre-evaluation.
You only need to register for the US CPA Exam once you've been evaluated and have your assessment report on hand. You could register by responding to a couple of questions on a form. These questions might be about anything, including your history in accounting as well as information about your accounting title. Once a candidate has paid the exam cost, the NASBA will issue a Notice to Schedule (NTS), allowing the applicant to schedule a time to take the exam with the testing facility. Your NTS will arrive within three and six weeks after the payment. You may schedule your exam on the Prometric website once you have received your NTS.
Passing the US CPA exams requires practice, perseverance, and consistent preparation. You may need to design your own practice questions, study schedules, and mock examinations if you intend to study independently. However, when you start your prep with a facility like Northstar Academy (NSA), you have the opportunity to take part in interactive lectures, cover every corner of the US CPA course syllabus study from relevant real-life examples, and go through a personalized study schedule for highly effective US CPA Exam Preparation.
You must pass the ethics exam after passing the four US CPA exam sections, and then you are eligible to apply for a license to practice accounting in the US. Prometric testing locations provide the examinations all year round. New Delhi, Calcutta, Bangalore, Mumbai, Hyderabad, Ahmedabad, Trivandrum, and Chennai are the present locations where US CPA exams in India are being administered. Candidates must earn 150 credits to be eligible for the CPA license. A total of 2,000 hours of work experience in taxation, auditing, accounting, and management consulting are required.
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