AICPA Training

AICPA Training

What is AICPA

American Institute of Certified Public Accountant (AICPA) has the largest member toll of associated accounting professionals worldwide. Since 1887 the association has been developing and scoring the Certified Public Accountant examination. Institute has more than 431,000 members in 130 territories and countries practicing in business and industry, government, public sector, consulting and education.

How to become AICPA member:

To meet the needs of CPA profession AICPA provides four types of memberships.

CPA certification is issued by the state and after every 3 years regular members have to complete 120 hours of professional education.

With Uniform CPA exam qualification these members don’t have state authorized credential.

The individual who fulfills the CPE requirements of the jurisdiction falls under the category of International Associate.
The individual who fulfills the CPE requirements of the jurisdiction falls under the category of International Associate.

What are AICPA training courses: 

AICPA is globally recognized because of its certifications and the most acknowledged certification is CPA credential. Here is the list of most recent CPA certifications.

  1. Finance Transformation Certificate Program
  2. Data Analytics Certificate Programs
  3. Single Audit certificate Programs
  4. International Financial reporting Standards (IFRS) certificate program

Why to choose CPA:

The CPA course offers unlimited possibilities as an ultimate qualification and lets you to demonstrate your potential in the accounting field. CPA is  the dream of many professionals  and there are uncountable reasons to motivate you for CPA certification.

With a bachelor’s degree this certification is cherry on the top for accounting professionals. Candidates are able to apply their expertise and skills in the top industries and are even authorized to impact the policy changes in the organization. After becoming the certified, deserving personals begin their career with auditing & accounting firms, Investments banks, research firms, hedge funds, commercial banks, mutual funds, merger & acquisition, private equity firms and others.

Instead of other principles exams CPA exam includes 4 papers and it’s the single level exam. By making a flexible schedule one can easily take the exam in less than a year.

This credential allows a certified personal to earn 15% more than non certified peers. Once the certified professionals start to do jobs, added experience increases their worth in the industry by enhancing their value and salary.
They are welcomed in all relevant industries and their titles are valued most in the firms. Firms require CPAs to manage and audit financial activities, govt audit, taxes, to oversee budget, account payable and receivables. Public Accountants have a significant role in fraud prevention, budget development and strategic planning.

CPA Course Requirement:

To appear in Certified Public Accountant examination candidates must have education and experience. Bachelor’s degree was considered enough in the past but now because of proliferation of new compliance laws and regulations the resulting body of knowledge can’t be covered in a 4 years degree program. Therefore, AICPA has managed its educational criteria in response to recent changes in industry. With 120 credit hours of baccalaureate program, additional 30 hours for graduate-level-instructions are preferred.

What is CPA Course Syllabus:

Exam syllabus for CPA contains 4 parts. Each part has its own syllabus and exam. CPA exam sections are listed below:
  1. Auditing and Attestation (AUD)
  2. Financial Accounting and Reporting (FAR)
  3. Regulation (REG)
  4. Business Environment Concepts (BEC)
Exam sheet covers multiple choice questions, task based simulations and written communication to score maximum marks candidates need to do preparation with practice tests and authenticated online relevant material.

CPA Exam process:

The application process is more tedious than the exam itself. The CPA exam application process is more different than CPA licence. After passing a uniform CPA exam with a least passing score of 75, one is eligible to apply for a licence as a Certified Public Accountant. When you have eligibility criteria for the  designation you are interested in, now is the time to pay the  application and examination fees. With all required documents and endorsement, a CPA application should be submitted with application fees and charges. After completion of all this procedure make a consistent schedule to prepare for the 14 hours exam.

CPA Course Exam Pattern Exam Duration 
Auditing and Attestation 72 MCQs plus 8 task-based simulations 4 Hours
Business Environment and Concepts (BEC) 62 MCQs 4 written communication tasks 3 written communication questions 3 Hours
Financial Accounting and Reporting (FAR) 66 MCQs 8 task-based simulations 4 Hours
Regulation (REG) 76 MCQs 8 task-based simulations 3 Hours
In written communication tasks test-takers are required to write short passages, letters or memos relevant to the subject. Task -based simulations are basically case studies that candidates are required to respond to prove their skills and knowledge. Instead of selecting right options from preset, they must have to intuit unique and right options. Throughout the years, the aspirants for CPAs have been on the rise. Candidates are rated on the grounds of skills, levels, and analytic approach. Due to adjudged criteria the pass rate is below  50%. Candidates don’t need to pass all portions in a single attempt, they have 18 months to pass the entire  exam after passing 1st part.

Maintain Certification:

If you are thinking that job is done now what? All CPAs have to renew the credential at regular intervals by completing a number of professional education credit hours regulated by the US Board of Accountancy. This continuing education is usually in the form of seminars, courses, conferences, group study and self-study. Accountancy professional organizations offer these post certification programs.

Final Words:

Once you accomplish with the certification all challenges and difficulties faced by you will be paid off. The top professional standards and extensive knowledge that CPAs have to maintain, create their demand in all industries. If everything is done with preliminary planning it’s suggested to enroll in a well- recognized and authenticated institution to get CPA training. One of the most reasonable and recommended institutions that provides different certifications is Institute of Financial Project Management Literacy (IFPML).

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