USA CPA Traiining

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Latest training course on USA CPA from Takshila starting from 3rd March 2013

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USA CPA Traiining

  1. 1. The No.1 Chartered AccountingDesignation in the world.Training Programme
  2. 2.  Certified Public Accountant Highest accounting qualification in the world similar(but higher) to CA qualification in India American Institute of Certified Public Accountants (AICPA) conducts the examination AICPA is the highest Accounting body of the world Member base of AICPA is in more than 126 countries
  3. 3.  More than 45 % CFOs of the world hold the CPA qualification Starting salary of 70k USD in North America (90k if you have an M Com) MOUs with all leading accounting bodies of the world (ACCA, ICAA, CPA Australia, CA Canada) Highest recognition in the middle east market Migration to countries such as Australia & Canada becomes a lot easier with US CPA Starting salary of 7-10 Lakhs in India
  4. 4.  Completion time of 6-8 months 100% employability within 3 months of completion Starting designation of Consultant/Senior in Fortune 100 Companies Expertise in US GAAP (10000 pages document and most complicated GAAP of the world) With IFRS convergence due in India, USA is going to Rule virtually
  5. 5. CPAs have incredible opportunities available to them because they are better equipped to handle demands of the market. Globalization has led to huge complexities in the corporate world Professionals are needed with vast knowledge of both Indian as well US accounting principles US CPA has a global recognition than any Indian accounting qualification like B Com, M Com, CA, CS, ICWA or MBA (Finance) therefore creates huge differentiation to a recruiter US CPA offers much better return on time and money invested with completion time of just 6-8 months 100% employability within 3 months of completion
  6. 6.  Real life case based exams (unlike Indian pattern) Cost of appearing again is 2-3 Lakhs Technical expertise required for solving simulations Most of Questions are not from any question bank (unlike CA , CS etc) One of the best study material included Passing % is 75 marks, thus more expertise is needed End-to-end support (Visa, Airport pickup, Accommodation in USA)
  7. 7.  Thorough analysis of entire technical matter Solving of real exam questions (unlike all other CPA classes in India) Mock exams of actual length and intensity More emphasis on solving exam questions and thus result oriented preparation Guidance on how to complete CPA along with Indian CA or other professional Indian courses
  8. 8.  Qualified both CPA(USA) and CA(India) Secured 94 Marks in Audit section of CPA (highest in India for that window) Involved in audit of US Financial Sector companies Experience with Big 4 consulting services Formed a US accounting firm in Washingtonalong CPAs in USA (SEVA LTD.)
  9. 9. CPAs are doing very important roles, far beyond traditional accounting like: Forensic Accounting for FBI Leading large corporations Financial Planning/Accounting Assurance & Attest services Management Consulting & Performance Management Financial Analysis Information Technology as applied to accounting & auditing Corporate Finance (M&A, IPO, Share & Debt Issuance, VC Funding) Tax Preparation & Planning Corporate Governance Income Tax
  10. 10. CPA‟s are needed for Filing US Tax Returns Auditing companies listed with SEC Conversion Services (from Local GAAP to US GAAP /IFRS) Transaction/Advisory Services (M&A, Carve outs, spinoffs )
  11. 11. Course Course Course (Recognition) Expected %Employability Duration Cost Salary within 3 months (pa) Rs. CA 4 Years 3 lacs India 5 – 6 lacs 20-30% CS 4 Years 3 lacs India 4 –5 lacs 20-30% ICWA 4 Years 3 lacs India 2 – 3 lacs 20-30% MBA 2 Years 3–5 India 3 – 5 lacs 40-50%(Finance) lacs MCOM 2 Years 2–3 India 1 – 1.50 lacs 20-30% lacs CPA 6 months 2-3 Global 7 – 12 lacs 95-100 lacs ** CPA can be undertaken by BCOM Graduates after passing the US Federal Tax Exam/ completing M.com 1 st year privately or regular
  12. 12. Course DesignationCA Associate consultant / ExecutiveCPA Consultant / Assistant ManagerB.Com ( SRCC) Analyst / Trainee
  13. 13.  Four-part Exams are prepared & administered by American Institute of Certified Public Accountants (AICPA) Registration through any one of the 55 State Boards of Accountancy Computer based tests held in authorized test centres only in USA Similar examination throughout USA Application & Exam fees varies from state to state Applications can be submitted at any time of the year Application process takes 6-8 weeks Education credentials need to be evaluated by an agency approved by the state boards
  14. 14.  The examination is offered in the first two months of each calendar quarter called „testing window‟. The examination is only offered in USA
  15. 15.  Candidate can take all exams in a single test window Cannot take specific part of the exam twice in the same test window Candidate is required to pass all 4 exams within 18 months from the date first passed exam was taken A passing score on any section of the CPA Examination is 75% Exams can be taken in any prometric centre in any state irrespective of which state the registration is done Exams can be taken in any sequence
  16. 16.  www.nasba.org for state boards jurisdictions www.cpa-exam.org for exam contents and samples www.aicpa.org for membership info of AICPA www.prometric.com for locating test Centres
  17. 17. Pass Four Exam Called Uniform CPA Exam:- Auditing- 4 hours Financial-4 hours Regulation- 3 hours Business- 3 hours
  18. 18.  Engagement Acceptance and Understanding the Assignment (12% - 16%) Understanding the Entity and Its Environment (16% - 20%) Performing Audit Procedures and Evaluating Evidence (16% - 20%) Evaluating Audit Findings, Communications, and Reporting (16% - 20%) Accounting and Review Services Engagements (12% - 16%) Professional Responsibilities (16% - 20%)
  19. 19.  Corporate Governance (16% - 20%) Economic Concepts and Analysis (16% - 20%) Financial Management (19% - 23%) Information Systems and Communications (15% - 19%) Strategic Planning (10% – 14%) Operations Management (12% - 16%)
  20. 20.  Conceptual Framework, Standards, Standard Setting, and Presentation of Financial Statements (17% - 23%) Financial Statement Accounts: Recognition, Measurement, Valuation, Calculation, Presentation, and Disclosures (27% - 33%) Specific Transactions, Events and Disclosures: Recognition, Measurement, Valuation, Calculation, Presentation, and Disclosures (27% - 33%) Governmental Accounting and Reporting (8% - 12%) Not-for-Profit (Nongovernmental) Accounting and Reporting (8% - 12%)
  21. 21.  Ethics, Professional, and Legal Responsibilities (15% -19%) Business Law (17% - 21%) Federal Tax Process, Procedures, Accounting, and Planning (11% - 15%) Federal Taxation of Property Transactions (12% - 16%) Federal Taxation of Individuals (13% - 19%) Federal Taxation of Entities (18% - 24%)
  22. 22. Weights Weights Skills Category (FAR, REG, AUD) (BEC)Knowledge and Understanding 60% 85%Application of the Body of Knowledge 40% -Written Communication - 15%
  23. 23.  Examinations are administered in a series of 4 “testlets” 3 of the testlets comprises of MCQs For AUD, FAR and REG, the fourth testlet will include the short task-based simulations (TBS); For BEC, the fourth testlet will include the written communication tasks The task-based simulations are condensed case studies that test accounting knowledge and skills using real life work-related situations The written communication tasks are designed to test writing skills
  24. 24.  Task-based simulations are condensed case studies that test accounting knowledge and skills using real life work-related situations Each task-based simulation is expected to take approx. 8 – 15 minutes to complete All task-based simulations are intended to assess knowledge and skills that are appropriate for an entry-level accountant Simulations are case studies to test the knowledge & skills required for entry-level CPA
  25. 25.  While completing the task-based simulations, you will use financial accounting, auditing, or taxation databases The financial accounting database will include certain portions of the FASB and AICPA authoritative literature The auditing database will include certain portions of the professional standards issued by the AICPA and the PCAOB The taxation database will include certain portions of the Internal Revenue Code, as well as certain portions of the professional standards issued by the AICPA and the PCAOB
  26. 26. TestletSection MCQs TBSs Time AUD 3 testlets (90 1 testlet (7 TBS) 4 hours questions) BEC 3 testlets (72 1 testlet (3 written 3 hours questions) communication task) FAR 3 testlets (90 1 testlet (7 TBS) 4 hours questions) REG 3 testlets (90 1 testlet (6 TBS) 3 hours questions)
  27. 27. Evaluation of Federal Course Foreign Credential Tax ExamCA Yes NoCS, ICWA, MBA (Fin), M. Com Yes NoB. Com + CA (Int), ICWA (Int), Yes YesCS (Int)B.Com. Yes Yes (Attested Certificates & Mark sheets of 10th Onward to be sent for evaluation)
  28. 28. Title USA CPADuration 10 full-days (Sundays) Course INR 1,00,000 (plus service tax) Fees Face-to-face & Online Virtually-Live Mode ClassesStart Date 3rd March ,2013
  29. 29.  Real life case based exams (unlike Indian pattern) Cost of appearing again is 2-3 Lakhs Technical expertise required for solving simulations Most of questions are not from question bank (unlike CA , CS etc) One of the best study material included End-to-end support ( Visa, Airport pickup, Accomodation in USA) Face-to-Face and Online classes In financial education for more than 10 years Conveniently scheduled weekend class Bank loan facility available as well Orientation on: ◦ Exam functionality ◦ How to navigate questions ◦ How to use tools which are unlike those which are being used today
  30. 30. Dollars Rupees Contents ($) (Rs.)1. Study Material, Software and Classes 2000 100,0002. Associated Cost a) Credential evaluation with state board 120 6,000 b) Examination Fees of CPA 1100 55,0003. Travel Cost a) VISA & Air Fare 1400 70,000 b) Expense in US for 10 days @ $70 per day 700 35,000 Total Cost 5320 2,66,000$1 Assuming INR 50, Courier, Bank Charges & Service Tax will 3,00,000 is the approx. costbe extra
  31. 31. Modalities for payment ◦ Cheques to be couriered to 1/56 B, 1st Floor, Lalita Park, Laxmi Nagar, Delhi-110092 ◦ Cheques can be deposited in our HDFC Bank Account no. 01442000012558 in any HDFC Bank Branch ◦ For transferring funds on-line through net-banking NEFT, branch IFSC Code is: HDFC0000144 ◦ Call for Our exécutive to pick-up the cheque/cash from your door-stepsReference websites: www.takshilalearning.com
  32. 32.  Additional fee of $550 towards exam fee for Federal Tax Course (on-line exam + open book)
  33. 33. Contact Central Helpline no.91-99581 57000
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