Here's What You Need to Know:
For accountants in India, cracking the CPA (Certified Public Accountant) exam and securing a job in the US is a dream come true moment! However, the CPA exam is considered to be one of the most competitive exams in the world! What makes it so challenging? Is it the CPA syllabus itself?
Before 2024, the exam was divided into 4 sections namely Auditing & Attestation (AUD), Business Environment & Concepts (BEC), Financial Accounting & Reporting, and Regulation (REG). AUD as the name suggests tests abilities to accurately analyze and maintain financial reports through various auditing procedures & techniques whereas BEC tests abilities to understand how a business operates through management, economics and information technology.
FAR tests abilities to read, understand and analyze financial statements like balance sheets, income statements. Moreover, the industry experts at MIles suggest clearing this CPA syllabus first, the rest becoming a walk in the park. REG is the big brother where everything is played by the rules! Legal tax laws, business laws and domestic ethics to be followed by an organization, falls under REG.
However, in 2024, this format of exams changed to carve out a new structure where currently, there are 3 core CPA subjects namely FAR, AUD & REG. Now, a candidate can choose between Business Analysis & Reporting (BAR), Information Systems & Controls (ISC), Tax Compliance & Planning (TCP). BAR, is the continuation of FAR, highly recommended whereas ISC & TCP is the continuation of AUD & REG respectively.
While the newer CPA exam model requires candidates to choose from one of these disciplinaries, the CPA standards in regards to practice, privileges and rights remain unaffected. Additionally, the new CPA syllabus model enables the candidates to choose based on their current interests allowing them to deliver quality services expected from the firm or public. This new CPA evolution definitely is the game changer in the industry.
Furthermore, with the right guidance from the industry experts, and the world’s favorite CPA instructor himself, cracking the CPA exam shouldn’t be a subject of any nightmare. With tailor-made study plan, best subject materials, mock tests and interviews, round the clock availability of the faculty, best tie-ups with the Big 4 and MNCs, Miles Education CPA Program is your best choice!
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