A Complete and Comprehensive Guide to CPA Exam – CPA Exam Dates 2023, Application Form, Eligibility, Syllabus
Certified Public Accountants (CPA) is an accredited program by the American Institute of Certified Public Accountants (AICPA). After you’ve earned your CPA certificate, you can seek out jobs that require certification in accounting and require a vast knowledge of this area.
This is an excellent alternative for those who have completed CA classes and would like to add a degree to their CVs.
If you are enjoying doing accounting and seek the right course to give you a complete understanding of the field and improve your likelihood of working as an accountant for companies or individuals.
In that case, this Certified Public Accountant (CPA) designation is perfect for you. In this article, we’ll discuss CPA certification in detail. CPA course in-depth and ensure that you have enough knowledge about the course.
CPA Exam Dates 2023
CPA examination dates, as well as score release dates for all-year-round testing, follow a regular pattern. Here are the estimated CPA exam release dates 2023.
|CPA Exam Dates 2023 (on or before)||Targeted Score Release|
|July 23||August 10|
|August 15||August 24|
|September 7||September 15|
|September 30||October 12|
|October 23||November 9|
|November 15||November 23|
|December 8||December 16|
|December 31||January 11|
CPA Exam 2023 Course Highlights
|CPA Full form||Certified Public Accountant|
|CPA Course Fee Offered||$ 140 for the application|
|Starting salary offered||7 – 9 Lakhs Per Annum|
|Similar Course CFA||CFA|
|Employment opportunities||Auditing Clerk, Accounts Receivable Clerk, Accounting Assistant, Accounts Payable Clerk.|
CPA Exam 2023: Overview
CPA Exam is a four-part test series that tests the abilities of accountants. Each part of the CPA Exam is tested separately, and each test lasts approximately four hours.
The test is conducted at a Prometric testing center. Until the last few years, CPA candidates could sit for their examinations at four different testing times throughout the year.
But, now the AICPA and NASBA announced that they would introduce the concept of continuous test taking, which means that candidates can take their tests whenever they like. While in the past, the candidate was not able to be able to sit for the same section twice within the same period, applicants can retake the area they failed after they have received their scores.
A passing score on the exam is only one requirement for licensure, and candidates must also meet qualifications for education and work experience set by the state board of accounting.
The CPA license is a United States designation, and non-US citizens are also eligible to apply.
|Multiple Choice Questions||50%||50%||50%||50%|
|Task-Based Simulations (TBSs)||50%||35%||50%||50%|
|Written Communication Tasks||n/a||15%||n/a||n/a|
CPA Exam Eligibility Criteria 2023
1. Taking the CPA test, you must have completed 120 credits. You will require 150 credit hours to become certified and obtain your CPA license, which creates a gap of 30 credits you must meet.
2. If you’re a Chartered Accountant, you can earn state-issued credits through the boards to sit for the CPA examination.
3. You can also take the CPA test if you’re an internationally-based CPA Candidate from India and are a first division graduate from any three-year commerce degree at NAAC-A-rated institutions.
4. Another essential prerequisite for international students is practical experience in finance or accounting.
CPA Exam 2023 Application Process
Here’s the step-by-step application procedure for applying for the CPA examination:
Before you submit the application form, you need to verify your eligibility. If you’re eligible, you’ll be able to forward your official to the state board. Send the exam fees to obtain the test authorization and NTS. Then, you will be able to prepare yourself for CPA Exam.
CPA Exam Fee Structure 2023
The fee structure is another crucial factor when you enroll for CPA Exam. To register for the test, it is necessary to pay $140 for the application fee.
The exam fee is the amount you pay to sit in the CPA Exam section. Here is CPA Exam Fees Structure is:
1. AUD: $208.40
2. BEC: $208.40
3. FAR: $208.40
4. REG: $208.40
To find out the exact cost and other details about the fee structure, we recommend you visit the website online or the official schools of CPA training. This will allow you to understand the complete Fee structure.
CPA Exam Syllabus 2023
It is essential to study for four sections of the CPA test. You are also practicing the fundamental concepts of finance or accounting, which will enhance your understanding.
Each subject has unique topics, so be prepared for each to ensure your best performance in the test. Below are the four areas the aspirant must be aware of before appearing in the exam in its entirety:
Section-1 Finance Accounting and Reporting (FAR)- 90 questions+7 task-based simulation
Section-2 Auditing and Attestation (AUD) 3 hours, 72 questions+3 communications skill tasks
Section-3 Business Environment and Concepts (BEC) 4 hours, 90 questions+7task based simulations
Section-4 Regulation (REG) 3 hours, 72 questions+6 task-based simulation
Here is the complete syllabus of the CPA exam 2023 section-wise:
Auditing and Attestation Syllabus (AUD)
• Conclusions and Reporting
• Risk assessment, Response Development
• Performing Further Procedures and Obtaining Evidence
• Ethics, General Principles, and Professional Responsibilities
Business Environment and Concepts Syllabus (BEC)
• Economic Concepts and Analysis
• Operations Management
• Corporate Governance
• Financial Management
• Information Technology
Financial Accounting and Reporting Syllabus (FAR)
• Financial Accounting
• Financial Statement Accounts
• Local and State Governments
• Standard-Setting, Conceptual Framework, and Financial Reporting
Regulation Syllabus (REG)
• Business Law
• Individual Federal Taxation
• Property Transaction Federal Taxation
• Entity Federal Taxation
• Professional Responsibilities, Ethics, and Federal Tax Procedures
List of US CPA Test Centres in India
Due to the devastating effects caused by COVID-19 and to limit international movement, AICPE and NASBA have chosen to conduct a US CPA exam in various states across India to allow candidates to take the test peacefully. Prometric test centers in these states can be found during the June and September sessions.
• New Delhi, and
Career in CPA
CPA course is top-rated across all industries. CPAs must manage and analyze financial records for private and public sectors and private clients. CPAs can charge economic areas ranging from startup enterprises to multinational corporations.
CPAs can serve as specialists in the following areas:
1. Financial Analyst
2. Management Accountant
3. The Risk and Compliance Analyst
4. Tax Accountant
5. Management Consultant
6. Information Technology Auditor
7. Director of Finance
Salary after CPA
Candidates will receive an initial salary that ranges from 7 to 9 LPA, based on their working field. The pay is not a barrier when you possess the appropriate abilities and skills, and the Salary will vary depending on the expertise and experience.
CPA certificate vs. license:
To obtain a CPA Certificate:
1) No prior experience is needed.
2) No need for ongoing education.
3) Inability to sign tax return forms, audits, or have the title printed on official or legal documents.
4) Certain states permit the use of the title as a prefix to names on documents that are not official such as resumes, while other states prohibit this kind of use.
To obtain a CPA licensing:
1) Most states require a minimum of 1-2 years of relevant accounting experience under a CPA’s supervision.
2) Sign tax returns and audit reports.
3) Permitted to start a CPA firm.
4) Use the title in all of.
It should be noted that, at present, most states do not issue a certificate after passing the test until the other requirements are met.
Therefore, a CPA certificate is usually a type of acknowledgment indicating that the person has passed the test and fulfilled the minimal requirements required.
On the other hand, a CPA license is granted following the fulfilment of all board requirements for accounting.
Difference between CA & CPA Course
A chartered Accountant is a certified professional with a wide variety of duties within the accounting field. CA is in constant demand due to its technical proficiency, integrity, and professional standards.
Every business needs people who have a vast understanding of the laws and regulations governing financial transactions and who can manage financial concerns without worrying about the consequences of legal issues that could harm the company’s operations.
The CA degree is a professional level that is awarded by certified Chartered Accountancy bodies throughout the world. The goal is to equip students with a complete understanding of financial Management and Auditing, Fiscal Laws, Regulations, Strategic Financial Management, and Ethics, among others.
CPAs are accredited and designated financial advisors in a variety of countries around the world that speak English. The most popular careers the CPA can pursue are Public Accounting and Industry Accounting. Both of them are accountable for helping organizations achieve their financial objectives.
CPA Exam 2023 FAQ’s
Q: Who are the best recruiters who are hiring CPA professionals?
Ans: Top recruiters are Deloitte, KPMG, Accenture, PWC, American Express, Philips, Capgemini, Barclays, Tata Power, Genpact, JP Morgan, EY, WNS, and MetLife.
Q: How many hours of studying are required to be prepared for the CPA test?
Ans: Ideally, candidates should commit 15 hours per week in preparation for the CPA test.
Q: What type of questions will be asked on the CPA exam?
Ans: The Four sections in the CPA Examination are MCQs (multiple-choice questions).
Q: What are the requirements for a license to CPA US?
Ans: The CPA exam requirements vary based on the state of jurisdiction. Every state’s accounting board has its own set of rules. However, most states have a standard set of requirements and that is the CPA examination. Here are the prerequisites to be able to get a CPA license. Take the 4 CPA tests.
Most states require 150 hours of credit in particular courses at a college or an accredited institution as part of NASBA. Take the Ethics test. It’s an online exam that can be taken on demand. Minimum of one year of working experience in auditing, taxation accounting, management consulting, and taxation.