Are you CPA ready? Let’s talk about eligibility!

If Accounting and Finance tick your box, and you are looking for a rewarding career in either of these streams, it’s obvious that you might have bumped into the term: CPA.

In the modern-day world of careers and opportunities, be it any field, certification courses become your master key to unlocking top opportunities with lucrative salaries and reputed designations. Think of it as a jumpstart to your career in any respective field.

Now, the accounting field is no exception, and Certified Public Accountant (CPA) certification sits at the top of the pyramid. But ? How do you check your CPA eligibility? Let’s find out. 

CPA Course and Eligibility: A quick peek!

Certified Public Accountant (CPA) is the global blackbelt of the accounting world! The highest qualification for accounting professionals in the US, CPA is the US equivalent of a CA in India. 

CPA Eligibility Criteria 

Like any other course, the  require candidates to meet minimum education hours (or credits, as it is called), gain relevant work experience, and pass the CPA exam to.

Additionally, the AICPA (American Institute of Certified Public Accountants) administers the  and the candidate has to pass all four exams to gain the AICPA membership. However, the license can be issued through 54 states across the US and every state has different eligibility criteria to gain the license. Here is a brief explanation of the basic requirements to pass the CPA eligibility test:

• Education: To be eligible for the CPA (Certified Public Accountant) license, candidates must complete a bachelor's degree from an accredited college or university. It is also recommended to take a CPA course to strengthen the knowledge in financial accounting, auditing, taxation, business law, and management accounting.
• Credit Hours Requirement: To become a licensed CPA, candidates must earn a total of 150 credit hours, although only 120 credits are required to sit for the exam.
• Work Experience: A minimum of 2 years of work experience is required by the AICPA (American Institute of CPAs) for CPA licensure, and this experience should be under the supervision of a licensed CPA.
• Exam Requirements: A candidate must pass all 4 parts of the CPA exam as an important part of the CPA eligibility process. 
• Ethics Exam: Some states require the candidate to pass the ethics exam apart from the CPA exam. This exam tests a candidate’s knowledge of ethics and professional conduct scoped within the accounting profession.

In just, once the candidate clears all the above mentioned parameters, he/she earns the CPA Eligibility. A bachelor’s degree from an accredited college/university, passing the uniform CPA  exam, two years of relevant work experience, and a total of 150 credits for the licensure.

What’s next? How many subjects are there in the CPA exam? How many months do we have to clear the exam? And, the elephant in the room, how much does it cost? Read away. 

The CPA Playbook: Mastering Key Subjects

The CPA exam section is divided into 4 parts namely Financial Accounting & Reporting (FAR), Auditing & Attestation (AUD), Regulation (REG), and Business Analysis & Reporting (BAR). Passing each section of the exam enables candidates to pass the uniform CPA exam, fulfilling a vital eligibility requirement for .

1. Auditing and Attestation (AUD): This section is very vital especially to appreciate how the auditing process from planning to implementation is done. The subjects taught in our  include but are not limited to audit risk, internal control and procedures. You will acquire the competencies to conduct audits efficiently and with professional accountability.
2. Financial Accounting and Reporting (FAR): FAR is based on financial accounting and is a specialty that employs the formulation and interpretation of financial statements. Our course explores essential topics like revenue recognition, asset valuation, and reporting standards that align with the latest accounting frameworks.
3. Regulation (REG): This section addresses the regulatory and ethical standards crucial for CPAs. Our coverage of REG subjects includes federal taxation, business law, and professional ethics. This ensures you not only understand the rules but also apply them effectively in real-world scenarios.

In 2024, the structure of the exam changed allowing candidates to choose between Business Analysis & Reporting (BAR), a continuation of FAR,  Information Systems & Controls (ISC), a continuation of AUD, and Tax Compliance and Planning (TCP), a continuation of REG. Miles strongly recommends choosing BAR as the 4th disciplinarian. 

Your CPA Course Timeline, Simplified!

By this time, the first thing that comes to mind is, how much time would it take to finish the CPA course and if the working professionals can pursue it without having to sacrifice their jobs. Let’s find out.

Typically, a candidate has 30 months to pass all four sections of the exam but with Miles, you can clear the CPA exam in 16 months with a recommended 20 hours/week study plan for working professionals. 

Be it your dream to work in a top public accounting firm in the US or unlock a top job with lucrative salaries in the Big 4, right here in the country, CPA is your golden ticket. If you ask us, with more than 300,000 shortage of accountants, and the situation only getting worse, this is the perfect time to pursue your CPA. 

CPA Exam 101: Prep Strategies, Structure & Fees

The CPA exam preparation demands dedication and strategic planning to get the best results and at Miles, we recommend a study plan of more than 20 per week. Additionally, here are some tips to help you prepare well: 

1. Create a Study Schedule: Allocate specific study hours for each section based on your difficulty level and familiarity with the material.
2. Utilize CPA Review Courses: Register for quality CPA course and with more than 80% of CPAs in India being Miles Alumni, we will let you take the easy call. 
3. Practice, Practice, Practice: Take full-length practice tests to get used to the different types of questions and time limits.
4. Join Study Groups: Collaborating with peers can provide support, motivation, and a different perspective on challenging topics.
5. Stay Updated: This way you’ll stay informed of changes in the accounting standards and all other regulations that may affect the exam.

Exam structure 

The year 2024 witnessed a change in the structure of the CPA exam, allowing candidates to choose the 4th discipline. Although the written communications part of the exam was removed, the overall structure of the CPA exam remains undeviated.

For example, the candidate is given four hours to complete each section of the exam where each section consists of MCQs and task-based simulations. 

Now, it is important to note that the CPA exam must be passed within an 18-month deadline with a score of 75 and above in each section to earn CPA eligibility.

With an impressive passing rate of more than 82%, Miles yet again proves why it is crucial to choose the right CPA course to be successful in the journey. 

Additionally, with Miles, you can unlock two pathways: Work at top US public accounting firms with a starting salary of $60,000+ (INR 50 lakhs+) through their US Pathway program or explore top accounting jobs at the Big 4 and other top MNCs, right here in the country!
 

CPA Exam fees

Investing in a transformational course is always a good idea and a rewarding  is no exception. With Miles, a candidate can start earning lucrative returns on this investment within 16 months, provided he/she has successfully passed the exam. Anyhow, below is the table explaining in detail the expenses of pursuing the course:
 

How to check your CPA Eligibility?

As we have learned, CPA eligibility criteria include basic education, credits, and work experience requirements, alongside clearing the uniform CPA exam.

Now, more than 80% of CPAs in India are Miles Alumni, and they would recommend Miles as your trusted guide and your launchpad to a lucrative career. Also, we couldn’t be any prouder of them for owning the CPA game globally

With a team of over 100 global industry experts as faculty members, Miles is also the flagbearer for thousands of Indian accountants living their American dream in the US earning sky-high salaries. Be it working at the Big 4 in India or in the US at a top public accounting firm, it is highly recommended you visit the nearest Miles office and check your eligibility, this being the vital first step in your CPA journey.

In conclusion, CPA is your blackbelt in accounting and we agree cracking the exam is no small feat. But with commitment and the right guidance, especially with a dedicated global team of industry experts who’ve been there and done that, CPA is like a walk in the park.

Additionally, who wouldn't want to be trained by the world's favorite CPA and CMA instructor, Varun Jain? Leading our team of global instructors, his mnemonics on complex subject matters are known to be enough to crack the CPA code, according to our 70,000+ global Miles alumni.

Reiterating, with over 300,000 and the Big 4, alongside other top MNCs, outsourcing jobs in India, there would be no better time to pursue your CPA. Join hands with us as we can continue to reshape the accounting profession globally.

What are you waiting for? Give us a call and check your CPA eligibility today!