US CPA Exam Fee - Registration & Exam

Whether you are ready to sign up or are simply contemplating the idea, many people wonder how much the US CPA exam fees are. The CPA examination fee structure can be a bit confusing to some individuals. The exam has no fixed price range, and the cost depends from candidate to candidate. The course might seem a bit expensive because there are different costs involved in becoming a CPA. However, the aftermath of clearing the CPA exam and the benefits of becoming a CPA makes taking the course worth all the money, time, and effort.

This blog breaks down all the cost and fees associated with taking the CPA exam and information about the exam structure, job role, and eligibility criteria for obtaining a CPA licence. By the end of this article, you will have a clear understanding of the expenses involved in taking the exam, including initial attempts, retakes, and CPA rescheduling fees.

Key Takeaways

• US CPA Exam Fees

• CPA Job Role

• Course USP and Job Opportunities

CPA Job Role

Certified Public Accountants (CPAs) handle various financial tasks including:

• Filing annual tax returns
• Preparing financial documentation
• Calculating taxes
• Managing risks
• Protecting against fraud
• Conducting financial audits
• Establishing accounting procedures and principles

Your first step towards this prestigious CPA designation should be finding out how much the US CPA exam fee is and the US CPA exam requirements.

Course USP and Job Opportunities

The USP of the CPA course lies in its international recognition, positioning professionals for a global career trajectory. Attaining the CPA designation serves as a key catalyst for career advancement, correlating with promotions, salary growth, and access to senior roles. Beyond traditional accounting functions, the course imparts diverse expertise, encompassing areas such as auditing, taxation, and financial management. Notably, the mastery of US accounting standards and regulations distinguishes CPAs as trusted experts in their field. 

After completing the US CPA course, individuals can take up several job roles, such as:

• Bookkeeper
• Controller
• Financial Analyst
• Forensic accountant
• Budget Analyst
• Auditor
• Tax accountant

Advantages of Being a Certified Public Accountant

The CPA is the only licensing qualification for the audit profession and accounting in the US. Due to its global recognition, a CPA can get a global passport in just 180 days and always have the option to work in the best place worldwide. 

A CPA is your ticket to a high-paying job at global accounting firms, top MNCs, and even Big4s. BIG4s are the four prominent professional accounting companies offering taxation, accounting, assurance, auditing, and other related services to clients around the globe. These organisations are:

1. KPMG
2. PriceWaterhouseCoopers 
3. Deloitte
4. Ernst and Young 

These BIG4 companies offer high-demand services, and so they gain popularity in hiring Certified Public Accountants worldwide. To get hired by these top firms, you have to commit just 12-18 months to clear the US CPA exam with the help of comprehensive, end-to-end training provided by experts like NorthStar Academy.

Eligibility Criteria for US CPA Exam and Licence

To earn a US CPA licence, candidates are required to fulfil the following 4E criteria-

1. Exams- Pass the CPA exams within 12-18 months of the time frame.
2. Education- Master’s degree or educational qualification equal to 150 credit points.
3. Experience- 1-2 years of work experience.
4. Ethics- Online on-demand exams and open-book tests.

To be eligible for the exam to get your licence, you need to check the following cases to achieve the credit points within the B.Com stream in India-

·B.Com : 3 years X 30 credits = 90 credits

·B.Com + M.Com/MBA : 90 credits + 60 credits = 150 credits

·B.Com + CA/CS : 90 credits + 60 credits = 150 credits

Points to be noted- CA/CS/CWA courses are equivalent to 2-3 years or 60 semester credits at a US University. Also, international candidates need to earn a CPA licence within 3 years of clearing the CPA exams; otherwise, the CPA exam credits will lapse.

US CPA Exam Structure

You have to attempt 3 compulsory sections and 1 discipline section in which you get to choose from 3 different topics in the CPA examination. These exams take almost four hours. Below is what the paper includes:

1. Financial Accounting and Reporting or FAR:

·Conceptual Framework & Financial Reporting

·Financial Reporting & Disclosure

·Assets & Related Topics

·Liabilities

·Investments, Statement of Cash Flows & Income Taxes

·NEP Accounting & Governmental Accounting

2. Auditing and Attestation (AUD):

·Audit Reports

·Engagement Quality & Acceptance Planning and Control

·Risk, Evidence, Sampling

·Performing Further Procedures, Forming Conclusions & Communications

·Integrated Audits, Attestation Engagement, Compliance & Government Audits

·Accounting & Review Service Engagement, Interim Reviews, Ethics

·Professional Responsibilities

3. Regulation (REG):

·Federal Taxation of Individuals

·Property Taxation

·Entity Taxation

·Professional Responsibilities & Federal Tax Procedures

·Business Law: Part 1

·Business Law: Part 2

4. Optional Paper (Any One):

·Business Analysis and Reporting (BAR)

·Information Systems and Controls (ISC)

·Tax Compliance and Planning (TCP)

US CPA Exam Fees

One of the most common questions that the students who are starting to pursue the course have is about the US CPA exam fees. Answering the query is not as easy as mentioning a price range, as several factors impact the US CPA exam fees. These can include the state where you reside, the course material you use for studying, and whether you clear the paper on your first attempt.

Here’s the overall fee structure for CPA, including the US CPA exam fees and other different aspects-

• Education Evaluation Application Fees: USD 90 - USD 150
• Examination Application Fees: USD 1100 - USD 1500
• CPA Exam Retake Fees/ CPA Rescheduling Fees: USD 50 - USD 200
• CPA Review Course: USD 1000 - USD 4000

CPA Evaluation Process

The CPA evaluation process is a straightforward procedure where the candidates undergo an evaluation process to confirm whether they are eligible to clear the US CPA exam. Agencies like NorthStar Academy conduct the evaluation to ensure you are aware of the necessary academic and professional requirements. It might appear easy, but it is critical to analyse whether you meet the professional and educational guidelines of the board to pursue CMA.

US CPA Fees in India

Previously, Indian or any international students or CPA aspirants had to bear additional travelling and accommodation expenses since they could only appear for the CPA exams in the US. But now, everything from the US CPA exams to the course training can be done in India. An additional International Testing Fee might be included in the fee structure. So, overall, CPA fees in India will cost you approximately INR 300,000- INR 350,000. This overall cost will include the training, membership, and US CPA exam fees.

CPA Licence Fees

To be able to secure a CPA licence, you need to pass the CPA examination and have a prior job experience of one or two years. Succeeding candidates seeking a CPA licence in their respective jurisdiction or state need to apply for the application procedure. Your academic transcripts and other relevant documents must be evaluated to obtain a licence, costing around USD 175.

Note: The application process is an essential administrative step for obtaining your CPA certification. Please ensure that you submit accurate information to obtain the licence smoothly and without hassle.

Conclusion

Taking up the CPA profession will help you gain immense success in the accounting world. Investing in a leading CPA course will help you clear the CPA exam efficiently, opening the doors to a world of diverse job opportunities. With comprehensive training from NorthStar Academy, you’re not just studying; you're paving the way to becoming a financial leader. We offer easy learning materials, exam practice, and assured success. Invest in your future, take up the challenge, and become a successful CPA professional with guidance from our mentor and well-known CPA instructor, M. Irfat Sir. His right guidance, expert knowledge, and years of experience have helped thousands of aspiring students clear the CPA exams and land high-paying careers. It is your turn now!