This document provides information about the Certified Public Accountant (CPA) qualification and training program in the United States. The CPA is the highest accounting qualification in the US, administered by the American Institute of Certified Public Accountants. The training program described involves taking a 13-day weekend course to prepare for the CPA exam, which consists of four test sections. The total estimated cost of the program is Rs. 2,25,000. Details are provided on the application process, exam structure and format, and career opportunities available upon obtaining the CPA.

1. Training Programme
USA CPA
(CERTIFIED PUBLIC ACCOUNTANT)

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

3. THE PROCESS

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. CPA‟s are needed to
• design
• integrate &
• implement
IT Systems

6. 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

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. • 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. • 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. • The examination is offered in the first two months of each
calendar quarter called „testing window‟. The examination
is only offered in USA

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. • 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

13. EXAM DETAILS
Pass Four Exam Called Uniform CPA Exam:-
• Auditing
• Financial
• Regulation
• Business

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. • 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. • 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. • 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. 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. • 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. • 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. • 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. 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. Course Evaluation of Foreign Federal Tax
Credential Exam
CA Yes No
CS, ICWA, MBA (Fin), M. Com Yes No
B. Com + CA (Int), ICWA (Int), CS (Int) Yes Yes
B.Com. Yes Yes
(Attested Certificates & Mark sheets of 10th Onward to be sent for evaluation)

24. THE TRAINING PROGRAM
Title USA CPA
Duration 13 full-days (Sundays)
Venue 1/44, Lalita Park, Laxmi Nagar
Start Date
19th February, 2012

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

30. Contents Dollars ($) INR
1. Study Material, Software and Classes 1600 80,000
2. Associated Cost
a) Credential evaluation with state board 120 6,000
b) Examination Fees of CPA 1000 50,000
3. 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. cost
will be extra

31. MISC INFO
Modalities 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-steps
Reference websites:
www.takshilalearning.com

32. TAKSHILA‟S 3 GURU MANTRAS

33. • Additional fee of $550 towards exam fee for Federal Tax
Course (on-line exam + open book)

34. Contact us
@
+91 99581 57000