The benefits of becoming a US CPA are multifold in today’s economy. The world seems to be facing a tragic milestone every day since the beginning of 2020, owing to Covid-19. People have lost their loves ones, their jobs and faced many unexpected challenges. But now, things are slowly getting back to normal and it’s time for us to look at the positive side and move ahead. One such huge positive outcome is the possibility to take up the US CPA exams in 8 major cities in India!
This is a big boon for people who are looking for a Global Certification in the fields of finance and accounting as the benefits of becoming a US CPA is multifold.
Before getting to know the benefits of becoming a US CPA one should know the basic details about the program.
Given below are some key details about the US CPA.
The US CPA exams are conducted and the certification is granted by the AICPA (American Institute of Certified Public Accountants, USA) www.aicpa.org the world’s largest member association representing the accounting profession since 1887. The license however is granted by the respective State Board in the USA from where a candidate has applied and taken up the exam.
- A candidate who successfully completes the US CPA program would join an elite club of Accounting Professionals who are recognized and employed in over 192 countries.
- The exam consists of 4 papers (Auditing, Financial Accounting and Reporting, Regulation, and Business Environment subjects) that can be completed in a period of 12 to 15 months
- It is a single sitting exam in the sense there are no levels like Foundation, Intermediate and Final. One can take up the exam paper by paper and in any order as they like
- The Global passing rate is approximately 50%.
Benefits of becoming a US CPA
Changing role of Finance Professional:
A Finance professional, historically, has been the one who was maintaining the books of accounts of an organization. However in the current global scenario, the role of a Finance Professional has undergone a major transformation.
The current finance professionals are expected to contribute by actively participating in business development and advise the management on strategic matters. Accountants are no more heads of cost centers, but looked upon as Profit center heads. Thus they are expected to contribute to the bottom line of organizations with their unique skill sets.
In addition to this, there is an imminent threat posed by the emergence of Artificial intelligence in almost every field. Hence the need of the hour for an accountant is the ability to think on his feet, take quick but right calls and also be proactive rather than being reactive.
The benefits of becoming a US CPA is that these qualified professionals fit perfectly to this dynamic environment as their skill sets are honed through the frequent revision in the curriculum to meet the industry needs.
The testing pattern and structure requires a high level of proficiency to successfully qualify for the same.
Skill sets of Qualified CPAs
Qualified US CPAs stand out in a crowd on account of the unique skill sets that they possess. This is primarily on account of the curriculum that is developed based on the extensive discussions with the industry experts on the skill sets needed before revising the curriculum. This is one of the primary reasons why a qualified US CPA is industry relevant and industry ready. Thus armed with the precise skill sets that an industry would need and with a high level of proficiency in the same, it is no surprise that they are in high demand across the globe.
Examination Structure and Testing Pattern
It is important to incorporate the much needed skill sets from an industry perspective in the curriculum but if this is not supported by an efficient examination structure and testing pattern, the value add is not significant. In case of the US CPA exams, the structure and the testing pattern is designed in such a manner to test the understanding, application and evaluation capabilities of the candidate which is what the industry primarily wants from finance professionals.
One of the benefits of becoming a US CPA is that they are the most sought after finance professionals across the globe including India.
With such high demand skill sets tested through an efficient examination structure and testing pattern it is no surprise that a Qualified US CPA will enjoy global recognition, career on the fast track and also an enviable pay packet. There is a misconception that a qualified US CPA will be employable only in the USA but the very fact that they are employed in more than 140 countries across the globe is an ample testimony of their demand from the industry perspective and the value add they bring to the table.
To summarize, the industry today is in need of Global Finance Professionals and the US CPA is one such program that fits the requirement perfectly.
Thus the benefits of becoming a US CPA are innumerable to the professionals.
The Effort to Reward ratio is easily one of the best a candidate can find in this field which is a huge plus from an aspiring professional perspective.
Get in touch with FINSPIRE Academy who specializes in training students for some of the major US Professional Finance Certifications like the US CMA and US CPA. If you are willing to match your intent with efforts and professional guidance from FINSPIRE you can witness a major transformation for the better in your life.