CERTIFIED PUBLIC ACCOUNTANT (CPA)

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2 CERTIFIED PUBLIC ACCOUNTANT (CPA) Certified Public Accountant (CPA) is the highest accounting qualification in the United States of America. One has to pass the Uniform CPA Examination conducted by the American Institute of Certified Public Accountants (AICPA) to become a CPA. CPAs AND GLOBAL ECONOMY Globalization has created competition and opportunity in the world marketplace. Certainly, outsourcing opportunities, the interconnectedness of our capital markets and the ability for a new competitor to emerge from out of nowhere underscores the fact that the world is getting much smaller. As businesses become increasingly globalized, there is clearly more pressure on accounting professionals to expand and enhance their knowledge, skills, and abilities beyond what they currently possess. Globalization of the world s economies means that the ability of accountants to operate across international borders and not just limit themselves to local boundaries. The accounting profession around the world views the CPA credential as highly valuable; and the professionals who hold this credential is more equipped to succeed in this new era of globalization. RELEVANCE OF CPAs IN INDIA Following the economic reforms in early 90s, India began to appear as a significant player in the global economy. Liberalization has seen huge inflows of Foreign Direct Investment (FDI) over the last many years and the inflow is continuing exponentially. A number of transnational and multinational companies have set up shop in India, requiring people in the accounting profession who have in-depth knowledge of U.S. GAAP, U.S. GAAS and IFRS. Page 1

3 Indian corporates, which rarely ventured out of India, have started investing all over the world and even in some industrialized countries such as U.S. These corporates are increasingly require globally recognized accounting professionals CPAs. Other factors contributing to the ever-increasing demand for qualified CPAs is India becoming superpower in Information Technology (IT) and Business Process Outsourcing (BPO). Since most of the Indian BPOs are carrying out accounting, taxation and other back office activities for US companies in India, your CPA credential could be your ticket to a rewarding career in public accounting or any industry you choose. The possibilities are endless and the opportunities are many once you ve passed the CPA exam. BENEFITS OF ACQUIRING A CPA QUALIFICATION CPA is the highest accounting credential in the U.S. and enjoys worldwide recognition. Therefore, job opportunities for CPAs exist all over the world. A career as a CPA can include roles in business and industry, not-for-profit, education, government or consulting. A career as a CPA also includes public accounting and specialization in auditing, financial forensics, information technology, business valuation and tax. Being a CPA is an honor; the respect from others for this achievement is much more gratifying. Being a CPA sets you apart; it is a public validation of your abilities. If you are already employed, a CPA credential provides significant career benefits, such as advancement in the workplace, credibility amongst employers and an expansion of opportunities across industries. Increased confidence and competence. Many CPAs hold executive positions at Fortune 500 companies worldwide. Recognition as a member of an elite group of professionals. Page 2

4 ELIGIBILITY There are 55 Boards of Accountancy in the US each represented by a State/Territory. Though the Uniform CPA exam is administered by AICPA, a candidate has to register with a State Board of Accountancy. Each State Board has its own eligibility criteria for taking the exam as well as for licensing. Following categories of accounting graduates are currently eligible to take the exam: B.Com. [provided he/she has graduated from NAAC A+ accredited University] M.Com. Chartered Accountants Cost Accountants Company Secretary M.B.A. LLB with Accounting background CPA EXAMINATION SCHEDULE The computer-based CPA examination is administered in prometric centers in the U.S. and a few select countries. The exam is offered six days a week, during the first two months (called testing window ) of each calendar quarter. Testing Window Closed January - February April May July August October November March June September December SCORE RELEASE TIMELINE Day in Testing Window Score Release Tentative Date Day 1-20 Day Day 46 Close of Window 11 business days from 20 th day of testing window 6 business days from 45 th day of testing window 6 business days from close of testing window Page 3

5 VENUE OF EXAMS The CPA Examination is delivered in a computer-based format at over 400 Prometric test centres across the United States. One can take the exam from any Prometric test center of his/her choice irrespective of the State Board under which he/she is registered to take the exam. The AICPA has also started administering the CPA Exam in a few international locations such as Japan, Bahrain, Kuwait, Lebanon and the United Arab Emirates. Candidates taking the exam from those countries must meet the residency requirements of those respective countries. Effective October 1, 2014, a few state boards have started permitting Indian citizens to take the exam from UAE without meeting the residency requirement. SUBJECTS TESTED AND PATTERN Subjects Duration Multiple Choice Questions Task-based Simulations (Case Study) Essay (Written Communi -cation) Content Specification Outline (in brief) Auditing & Attestation (AUD) Financial Accounting & Reporting (FARE) 4 hrs. 60% 40% N.A. 4 hrs. 60% 40% N.A. Covers knowledge of engagement, acceptance & understanding assignment, understanding entity & its environment, performing audit procedures & evaluating, evaluating audit findings, communication and reporting, accounting and review service engagements and professional responsibilities. Covers knowledge of framework, standards, stand setting & presentation of Financial statements, recognition, measurement, valuation, calculation, presentation and disclosures of financial statement accounts & specific transactions, governmental accounting & reporting and nongovernmental accounting & reporting. Regulation (REG) Business Environment & Concepts 3 hrs. 60% 40% N.A. 3 hrs. 85% N.A. 15% Covers the knowledge of ethics, professional and legal responsibilities, business law, federal tax procedures, accounting & planning of property, individuals & entities. Covers the knowledge of corporate governance, economic concepts & analysis, financial management, Page 4

6 (BEC) CONCORDE-GLEIM CPA REVIEW information systems & communication, strategic planning & operations management Concorde Academics Pvt. Ltd. (Concorde), in association with Gleim Inc, USA, has been conducting the CONCORDE-GLEIM CPA REVIEW in India for over 12 years and has helped thousands of CPA candidates take the exam successfully. The CONCORDE-GLEIM CPA REVIEW COURSE, conducted by professionally qualified faculty using the latest educational techniques, has always emphasized comprehensive understanding of the core concepts. Dr. Irvin N. Gleim, Ph.D., CIA, CMA, CFM, CPA, CFII, Professor Emeritus, Fisher School of Accounting, University of Florida, has an experience of over 35 years in publishing CPA Review material. Gleim CPA Review is rated as the best in the world as it provides easy-to-use and effective knowledge transfer materials. Page 5

7 Top 10 Reasons to choose Concorde-Gleim CPA Review 1. Comprehensive Coverage of AICPA Content Specification Outline (Syllabus) 2. Live interactive classes using latest educational techniques 3. Thorough grounding in US GAAP, US GAAS and IFRS by experienced faculty from international accounting firms and multinationals 4. Prepares you not only for the exam but also for the practical scenario. Concorde alumni have a distinct advantage over others in the industry because of the emphasis laid in the classroom on conceptual understanding rather than learning by rote. Concorde alumni have a distinct edge over their competition in the job market. 5. Provides GLEIM reference and practice material, which is rated as the best in the world! 6. Concorde sincerely believes that Confidence and Practice are the keys to SUCCESS! Therefore, at no extra cost, Concorde: (a) Provides Test prep online containing a large bank of multiple-choice questions; (b) Administers two mock tests under an examination environment. 7. Option to select cost effective Home Study Kit with online support. 8. Assistance/guidance for sending credential evaluation and exam application, scheduling test appointment, and visa application. 9. Highest pass rate among all CPA Reviews in India! 10. Last but not the least, Concorde-Gleim CPA Review offers the greatest VALUE FOR MONEY! Page 6

8 LIVE CLASSES - CONCORDE-GLEIM CPA REVIEW Concorde was founded with the firm belief that the essence of education lies in drawing out the very best that is in you. The quality of education and the support services we provide made Concorde a preferred destination for accounting professionals who aspire to become a CPA. Concorde-Gleim CPA Review live classes are held in Mumbai and in other metro cities in India. Having worked in the corporate and big accounting firms, our faculties bring enormous amount of real-life work experience to the classroom to share. This very experience not only helps candidates in the exam but also in their workplace. Our interactive classes with audio-visual presentation make learning easy and effective. Unlike other review courses, Concorde encourages its candidates to understand the core concepts rather than rote memorization. Our classes are conducted in a hotel for 20 Sundays (8 hours each). A new batch starts every 2 months. Page 7

9 HOME STUDY KITS - CONCORDE-GLEIM CPA REVIEW Concorde also offers CONCORDE-GLEIM CPA REVIEW HOME STUDY KITS (with online support) for the benefit of candidates who cannot attend our live classes. You may be based in any part of the country or even abroad. All you have to do is subscribe to the CONCORDE-GLEIM CPA REVIEW HOME STUDY KIT and start preparing for the CPA exam from the comforts of your home. Candidates from cities like Chennai, Delhi, Bangalore, Hyderabad, Cochin, Jaipur, Pune, Ahmedabad, Kolkota, etc. are already availing the benefits of our home study kits. Page 8

10 COMPONENTS CONCORDE-GLEIM CPA REVIEW Sr. # Component Format Live Classes Home Study Kit (Traditional) Home Study Kit (Premium) 1. Interactive Live Classroom Classroom N.A. N.A. 2. Textbooks Print 3. Flashcards Print 4. Question Bank / Test Prep Online 5. Simulations Online 6. Audio/Visual Presentation Online 7. Video Lectures Online N.A. N.A. 8. True / False Study Questions Online 9. Audio Lectures Downloadable N.A. 10. Knowledge Transfer Outline Digital / Pdf 11. Mock Tests (Customized) Online 12. Study Support / Help Desk 13. Logistic / Support Services: Counsellors / Selection of State Board & Mentors Evaluation Agency, etc. Mailing Evaluation & Exam Applications Visa Counselling Help in booking travel & hotel The candidates will have online access for 18 months from the date of online registration for classroom and traditional home study kits. For premium home study kits, the candidates will have unlimited access (beyond 18 months) without any extra charge (conditions apply). Page 9

11 COURSE FEE CONCORDE-GLEIM CPA REVIEW Sr. # Particulars Live Classes Home Study Kit (Traditional) Home Study Kit (Premium) 1. Registration Fee Rs. 2,500 Rs. 2,500 Rs. 2, Course Fee (Including Study Material) Rs. 112,500 Rs. 76,700 Rs. 92,000 Total (including applicable taxes) Rs. 115,000 Rs. 79,200 Rs. 94,500 So, why delay? The question you have to ask yourself is: Not - whether I can afford to do become a CPA? But - whether I can afford NOT to become a CPA?!? Do not lose this opportunity to arm yourself with the highest accounting qualification in the U.S.A. and gain an upper edge in this competitive, global economy. Start preparing for the Computer-based Uniform CPA exam from today! And see your career graph soar! For more details on computer-based CPA Exam and our course please visit our website: Disclaimer: Concorde Academics Ltd. will attempt to include reliable and current information, but does not warrant the accuracy or completeness of any information contained in this document and the website. Concorde Academics Ltd. shall not be held liable for damages of any kind as a result of access or inability to access the website or reliance on the information provided on this site and the documents provided. Page 10