Are you ready to embark on a rewarding journey in the field of accounting? Whether you're deciding between CPA or ACCA credentials, curious about the CPA exam structure and results, or exploring the salary potential for freshers, this comprehensive guide will help you make informed decisions.
1. CPA Exam Schedule: Plan Your Preparation
The CPA (Certified Public Accountant) exam, administered by the AICPA, follows a rolling schedule throughout the year. Candidates can take the four sections at different times and in any order. Each quarter (testing window) is open for two months, allowing flexibility. Here are the four windows in which you can sit for the exam:
January 1 - March 10
April 1 - June 10
July 1 - September 10
October 1 - December 10
It's advisable to register for the exams in advance and plan the study schedule carefully.
2. CPA Exam Results: When to Expect Them
Results for the CPA exam are released in waves depending on when you've completed each section. You can typically expect your scores within 10-15 days after your test window ends. Be sure to check the official CPA exam score release calendar for exact dates.
3. CPA Exam Pass Rate: Understanding the Challenge
Pass rates vary across the four exam sections, but they generally hover between 45% and 60%, indicating the rigorous nature of the CPA exam. Here's a general overview of the average pass rates for each section:
Auditing and Attestation (AUD): 45-55%
Business Environment and Concepts (BEC): 55-65%
Financial Accounting and Reporting (FAR): 45-55%
Regulation (REG): 50-60%
4. CPA Subjects List: Four Core Sections
To become a CPA, candidates need to pass these four core sections:
Auditing and Attestation (AUD): Covers auditing processes, ethics, and attestation engagements.
Business Environment and Concepts (BEC): Focuses on business concepts, including finance, IT, and management.
Financial Accounting and Reporting (FAR): Involves financial accounting standards, transactions, and reporting.
Regulation (REG): Includes business law, tax regulations, and professional ethics.
5. Is CPA or ACCA Better?
The choice between CPA and ACCA (Association of Chartered Certified Accountants) depends on your career goals and preferred geographical market. While both qualifications are prestigious:
CPA is primarily recognized in the United States, offering roles in public accounting and corporate finance.
ACCA is a global credential, widely recognized in Europe, Asia, and other international markets.
Consider your long-term career aspirations and market requirements before deciding.
6. Can You Pursue CPA After 12th Grade?
Directly pursuing a CPA credential after 12th grade isn't possible because it requires a bachelor's degree with specific accounting coursework. However, a student can start preparing early by focusing on relevant courses in college.
7. Accountant Fresher Salary: What to Expect
As a fresher accountant, the salary will vary based on location and industry. Here’s an approximate range of CPA starting salaries:
India: ₹8-10 lakh per annum
United States: $55,000-$65,000 per annum
These numbers may vary depending on the region and the specific organization.
8. Starting Pay for Accountants: Global Perspective
In the global market, entry-level accountants can expect different salaries based on location and specialization. While the U.S. generally has higher starting salaries, other regions like Europe and Asia also offer competitive pay.
Conclusion:
The journey to becoming a CPA can be demanding but rewarding. Understanding the exam schedule, pass rates, and subjects will set you on the right path. Miles Education is a more than decade-old institution; in fact, we built the ecosystem for CPAs in India. After gaining significant experience in the Indian accounting sector, we have also started targeting the U.S., where we help Indian accountants go to the United States and live their American dream! Visit our website to learn more.
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