Can Indians become CA in America, what is the salary of a Chartered Accountant in America?

CA Jobs in America: In India, a person is certified as a Chartered Accountant i.e. CA by the ‘Institute of Chartered Accountants of India’ (ICAI). CA studies are very long, but after getting certified, the chances of getting jobs are also very high. CA is also required in America, but there is a slightly different type of education there. In America, there are ‘Certified Public Accountants’ (CPA) instead of CA.
Like CA, CPA is also considered to be an excellent certification, which has a worldwide reputation. Like CA, CPA also looks after the work related to tax, auditing accounts and financial data. It takes 6 to 8 years to become a CPA. The annual salary of an entry level CPA in America is $59,000-68,000 (Rs 49 lakh to Rs 57 lakh). Senior level CPAs can earn up to $1,05,000 (Rs 88 lakh) a year. Let us know how to become a CPA in America.

What are the requirements to become a CPA?

To become a CPA in all the states of America, you have to pass an exam. This exam is exactly like the CA exam. But in some states there may be other conditions also. Generally, there are five major conditions that have to be fulfilled to become a CPA.

• CPA must have a Bachelor’s degree.
• Must have completed 150 credit hours of college education.
• Passing the CPA exam is required.
• It is also important to have work experience.
• Other requirements for a CPA include passing an ethics exam and proof of state residency.

How to become a CPA?

Earning a Bachelor’s Degree: Earning a bachelor’s degree is the first step toward becoming a CPA. Earning a Bachelor’s degree in Accounting is considered very good because it does not pose much difficulty in passing the CPA exam. However, it is not necessary that you have to do Bachelors in Accounting only. If you want, you can do Bachelors in English also. In America, it takes four years to get a bachelor’s degree.

Completing Additional Coursework: In the US, a bachelor’s degree is 120 credit hours, but becoming a CPA requires 150 credit hours. In such a situation, it is best to do Masters in Accounting or Taxation after completing Bachelors to fulfill the requirement of 150 credit hours. If someone does not want to do Masters then he/she can do graduation again in any subject.

Passing the CPA Exam: After completing your studies, you can sit for the CPA exam. This 16-hour exam consists of multiple-choice questions. In this you will be asked questions related to accounting to finance. CPA exam tests a student’s understanding in areas like Auditing and Attestation, Taxation and Regulation, Financial Accounting and Reporting.

Gaining Work Experience: After passing the exam you can start working. In a way, this can be called a training period. During this time, you will learn the essential skills that are important to become a CPA. The length of work experience required to obtain a CPA license may vary from state to state. Generally, to become a CPA, one or two years of work experience is required.

Obtaining a License: CPA licenses are issued at the state level by each state’s board of accountancy, and each of the 55 US states and territories sets its own licensing standards. The National Association of State Boards of Accountancy (NASBA) oversees licensing processes in all 55 jurisdictions. You can obtain a license to practice by meeting the requirements specified by NASBA. With this you will become a certified CPA.