USA CPA Training Programme


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Details of the USA CPA course being conducted by Takshila in New Delhi

USA CPA Training Programme

  2. 2. • Certified Public Accountant• Highest accounting qualification in USA similar to CA qualification in India• American Institute of Certified Public Accountants (AICPA) conducts the examination
  4. 4. 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
  5. 5. CPA‟s are needed to• design• integrate &• implementIT Systems
  6. 6. CPAs have incredible opportunities available to them becausethey 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
  7. 7. Course Course Course Cost (Recognition) Expected Duration Salary (p.a.) Rs. CA 4 Years 3 lacs India 5 – 6 lacs CS 4 Years 3 lacs India 4 –5 lacs ICWA 4 Years 3 lacs India 2 – 3 lacs MBA 2 Years 3 – 5 lacs India 3 – 5 lacs (Finance) MCOM 2 Years 2 – 3 lacs India 1 – 1.50 lacs CPA 6 months 2.5 lacs Global 7 – 12 lacs** CPA can be undertaken by BCOM Graduates after passing the US Federal Tax Exam
  8. 8. • Opportunities are immense especially after the recent financial scams & melt down of Lehman Brothers & Satyam Computers• CPA‟s role is more important due to: – High concern about corporate responsibility – Compliance with reports like • Financial reports • Auditor reports • Management assessment of internal controls – Compliance of Sarbanes Oxley Act
  9. 9. • 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
  10. 10. • The examination is offered in the first two months of each calendar quarter called „testing window‟. The examination is only offered in USA
  11. 11. • 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
  12. 12. • for state boards jurisdictions• for exam contents and samples• for membership info of AICPA• for locating test Centres
  13. 13. EXAM DETAILSPass Four Exam Called Uniform CPA Exam:-• Auditing• Financial• Regulation• Business
  14. 14. • 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%)
  15. 15. • 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%)
  16. 16. • 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%)
  17. 17. • 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%)
  18. 18. SKILL SPECIFICATION OUTLINES Weights Skills Category Weights (BEC) (FAR, REG, AUD)Knowledge and Understanding 60% 85%Application of the Body of Knowledge 40% -Written Communication - 15%
  19. 19. • 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
  20. 20. • 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 approximately 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
  21. 21. • 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
  22. 22. Section MCQs TBSs Testlet Time AUD 3 testlets (90 questions) 1 testlet (7 TBS) 4 hours BEC 3 testlets (72 questions) 1 testlet (3 written 3 hours communication task) FAR 3 testlets (90 questions) 1 testlet (7 TBS) 4 hours REG 3 testlets (90 questions) 1 testlet (6 TBS) 3 hours
  23. 23. Course Evaluation of Foreign Federal Tax Credential ExamCA Yes NoCS, ICWA, MBA (Fin), M. Com Yes NoB. Com + CA (Int), ICWA (Int), CS (Int) Yes YesB.Com. Yes Yes (Attested Certificates & Mark sheets of 10th Onward to be sent for evaluation)
  24. 24. THE TRAINING PROGRAM Title USA CPADuration 13 full-days (Sundays) Venue 1/44, Lalita Park, Laxmi NagarStart Date 19th February, 2012
  25. 25. • In financial education for more than 10 years• Classes by well known competent faculties• Conveniently schedule 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• Committed to our students success
  26. 26. Contents Dollars ($) INR1. Study Material, Software and Classes 1600 80,0002. Associated Cost a) Credential evaluation with state board 120 6,000 b) Examination Fees of CPA 1000 50,0003. Travel Cost a) VISA & Air Fare 1000 50,000 b) Expense in US for 10 days @ $70 per day 700 35,000 Total Cost 4420 2,21,000$1 Assuming INR 50, Courier, Bank Charges & Service Tax 2,50,000 is the approx. costwill be extra
  27. 27. MISC INFOModalities for payment – Cheques to be couriered to 1/44, Lalita Park, Laxmi Nagar, , New Delhi – 110008 – 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:
  29. 29. • Additional fee of $550 towards exam fee for Federal Tax Course (on-line exam + open book)
  30. 30. Contact us @+91 99581 57000