Globally acknowledged and appreciated, the Chartered Professional Accountant (CPA) designation is your key to a successful career. If you want to grow in a field of business or finance at a rapid pace then you should definitely take the professional accounting credential which will help opening doors and enhance your possibilities.
What is CPA?
CPA is the highest professional accounting qualification in the U.S.A. and is recognized internationally, including India. The CPA qualification in the 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.
Below are the Various Roles of CPA Professionals which you would like to know,
• 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 an 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 a way to a rewarding career in public accounting.
Difference between 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 centers.
- 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.