IMS Proschool, an intiative of IMS Learning Resources, is the leading Finance training institute in India. We offer training program for CGMA which is a joint qualification by CIMA and CPA.
What is CPA?
CPA is the highest professional accounting qualification in U.S.A. and is recognized internationally, including India. The CPA qualification in US is similar to the CA Qualification In India. The American Institute of Certified Public Accountants (AICPA) conducts Uniform CPA exam
CPA Professional have thorough and complete knowledge of Accounting principles of the U.S (US- GAAP). The services of US CPA are required in all areas of the business world.
Different Roles of CPA Professionals
• Financial Analysis and Planning
• Forensic Accounting
• Information Technology
• General Accounting
• Tax Accounting
• International Accounting
• Environmental Accounting
• Academics and Research
• Audit and Assurance
Opportunities for CPA in India
A number of multinational companies are heading to India for its growing workforce, seeking people in the accounting domain with knowledge of U.S. GAAP (Generally Accepted Accounting Principles) and GAAS (Generally Accepted Auditing Standards). Indian corporates, due to listing requirements of U.S. Stock Exchanges, are increasingly requiring specialists with knowledge of the U.S CPAs.
Another reason which made CPA a lucrative career option is the emergence of India as a Information Technology (IT) and Business Process Outsourcing (BPO) hub. Since most of the Indian BPOs are carrying out accounting, taxation and other back office activities for US companies in India, the CPA designation could be way to a rewarding career in public accounting.
Subjects & Examination Structure
The 14-hour computerized exam consists of four sections:
1. Auditing and attestation
2. Financial accounting and reporting
4. Business environment and concepts
The examination takes two days. Each of the four parts of the examination is graded on a scale of 0 to 100. The minimum passing score is 75.
About CGMA: Chartered Global Management Accountant (By CPA and CIMA)
CGMA is the joint qualification offered by CPA and CIMA. CIMA is the world largest professional body of Management Accountant. Any candidate who completes CPA or CIMA is entitlted to get CGMA.
Prosschool offers training for CIMA, after completing CIMA you will get joint qualification by CIMA and CPA.
- CPA offers career opportunities in the field of Auditing and Accounting, while CIMA will offer opportunities not only in the field of Financial Accounting but also in Cost Accounting, Management & Business.
- Most of the CPA members are in USA and exam is also only conducted in USA, while CIMA members are across the world and more than 7 cities in India have exam centres.
- CPA focus on US GAAP, while CIMA includes both US GAAP and IFRS
- Mainly accounting and auditing firms are the recruiters of CPA whereas CIMA members not only recruited by accounting companies but by companies across the sectors. More than 4500 companies are the recruiters of CIMA which include companies from all the sectors.