Usually, in the third year of BCom we ask each other about what we will do next. Some of us may say ”We’ll pursue masters," while others may say, “I want some industry experience. I’m looking for a job.” If you are following your passion, that’s great too! There is another category of people who go for professional courses. You are reading this because maybe you want to explore what a US CPA is or more. If not, somehow you landed on this page. Congrats, you are going to explore an amazing career opportunity! Go ahead!

For Indian students who have recently completed a Bachelor of Commerce (B.Com.) degree, aspiring to become a US Certified Public Accountant (CPA) can be a significant career booster. This prestigious credential, recognized globally, opens up vast opportunities in auditing, tax, financial advisory, and beyond. However, navigating the eligibility requirements, especially with a typical 90-credit B.Com. degree, requires strategic planning and understanding of the US CPA exam and licensure process, including the adaptation to the new core+discipline exam model introduced in the syllabus. This blog will explore what a US CPA is, auditing, tax, financial advisory, how B.Com. graduates can meet the eligibility criteria for the US CPA exam and license, and delve into the new exam structure.

Who is a US CPA?

A US CPA (Certified Public Accountant) is a licensed accounting professional who has met specific educational and licensing requirements and passed the Uniform CPA Examination, which is administered by the American Institute of Certified Public Accountants (AICPA). The designation is regulated by the individual state boards of accountancy in the United States.

Job Roles and Responsibilities of a US CPA

Before you explore the course further, check the job roles of a US CPA.

1. Auditing and Assurance: CPAs are qualified to conduct audits of public, private, and nonprofit organizations, ensuring financial statements are presented fairly and in accordance with Generally Accepted Accounting Principles (GAAP).

2. Tax Preparation and Planning: They prepare and file tax returns for individuals, businesses, and other organizations and provide strategic tax planning advice.

3. Management Consulting: Many US CPAs offer advisory services, helping organizations enhance their performance through financial planning, risk management, and the implementation of effective financial management strategies.

4. Forensic Accounting: Some specialize in investigating financial records to uncover potential fraud and other irregularities.

5. Regulatory Compliance: They ensure that organizations comply with tax laws and financial regulations.

Do these job roles and responsibilities feel like your cup of tea? Then read further. Also, you can specialize in any of these responsibilities and build a career in it.

Understanding the 150-Credit Hour Requirement

The US CPA credential necessitates completing 150 semester hours of education, which is roughly 30 semester hours more than what a US bachelor’s degree offers. In India, a B.Com degree typically equates to about 90 semester hours, leaving a significant gap that needs to be bridged. So, what can you do?

Bridging the Education Gap

1. Additional Degrees: Pursuing further education like a Master's in Commerce (M.Com), Business Administration (MBA), or specialized post-graduate diplomas in finance or accounting can help accumulate additional credits. These programs not only provide the necessary credits but also deepen the candidate's knowledge base in critical areas. 

2. Accredited Online Courses: Enrolling in additional courses from accredited institutions, including online platforms that offer courses accepted by various state boards, is a viable option. It’s essential to ensure that these courses are recognized by the specific state board you plan to apply to.

3. Certificate Programs: Certain certificate programs in accounting or related fields can also contribute to the required hours and are often tailored to help students prepare for specific sections of the US CPA exam.

From all these options provided, we highly prefer to go for the first option! It is always better to pursue MCom Finance or MBA Finance if you are focused on a career as a US CPA. Happy news for a CA inter qualified student with a BCom or CMA India student with a BCom: you are eligible to write the exam. But still, you need to bridge the gap to get the license.

Evaluating Credentials

Before registering for the US CPA exam, international candidates must get their educational credentials evaluated by an agency approved by the state board of accountancy. This evaluation will confirm whether your combined education meets the 150-hour requirement. There is a one time evaluation fee of $225 (this is a fluctuating rate).

Choosing the Right State Board

You are writing the exam and taking the license under any one of the US states. This happens because America uses a system of federalism, which gives power to each state. Different US states have varying rules regarding educational and residency requirements:

* States without Residency Requirements: Some state boards allow international candidates to take the CPA exam without being a resident of that state.

* Social Security Number (SSN) Requirements: Not all state boards require candidates to have an SSN, which is an essential consideration for international candidates.

Kindly note that there are other US states that don't ask for these requirements of residency or SSN. As an Indian & international candidate, you will be applying to these states.

The US CPA Exam: New Core+Discipline Model

Since 2024, the US CPA exam has transitioned to a new structure called the Core+Discipline model. As a US CPA candidate, you need to write a total of 4 papers. Three core papers and any one discipline of your choice. This is designed to better reflect the evolving nature of the accounting profession. Here’s what this entails:

1. Core Sections: All US CPA candidates must pass three core sections:

* Auditing and Attestation (AUD)

* Financial Accounting and Reporting (FAR)

* Regulation (REG)

These sections cover essential knowledge and skills that all US CPAs need.

2. Discipline Section: US CPA candidates choose one discipline section that aligns with their interests or career goals:

* Business Analysis and Reporting (BAR)

* Information Systems and Controls (ISC)

* Tax Compliance and Planning (TCP)

This part allows candidates to demonstrate deeper skills in a specific area of accounting.

As a US CPA candidate, you need to write a total of 4 papers. Three core papers and any one discipline of your choice. You need to secure a score of 75 in each of the 4 papers to pass the exam.

Preparing for the CPA Exam

Preparing for the US CPA exam requires dedication and strategic study planning. Utilizing US CPA review courses, which provide structured learning materials, practice questions, and simulations, is highly recommended. Many of these courses are tailored to the new exam structure, ensuring that candidates are well-prepared. PrepQ provides the materials of Surgent.

Licensing and Experience Requirements

After passing the US CPA exam, candidates must meet the experience requirements, typically involving one to two years of work under the supervision of a licensed US CPA in areas relevant to the certification’s focus.

Continuous Professional Education (CPE)

Maintaining a US CPA license requires completing CPE credits periodically. This ensures that US CPAs stay updated with changes and new trends in the accounting field.

We hope you got a bit of a clear picture of US CPA, its eligibility, exam structure, job roles, etc. For Indian B.Com. graduates with 90 credits, becoming a US CPA requires careful planning to meet the educational prerequisites, choosing the right state board, and preparing adequately for the new exam structure. With the right approach, the journey to achieving the US CPA credential can lead to rewarding career advancements both in India and internationally. Have you still got questions? Feel free to reach us at +91 99954 92502 or +91 99954 54503.