CPA USA

Certified Public Accountant

In view of the increasing globalization of Business & Accounting practices, a Credential indicating an added understanding of U.S. Accounting Principles (U.S. GAAP) & International Financial Reporting Standards (IFRS) will prove important in securing the position you want. It provides you with extra marketability & international mobility.

Being a U.S. CPA also can prove very beneficial when dealing with International Clients & Companies because it underscores your understanding & mastery of U.S. Tax & Regulatory matters along with IFRS. We admit taking the U.S. CPA Examinations is not an easy task. That is why Becker CPA Review is here to help you in preparing you effectively for the U.S. CPA Examinations.

The Certified Public Accountant (CPA) is the Highest Accounting Credential in the USA & is similar to the Chartered Accountant qualification in India. The American Institute of Certified Public Accountants conducts the U.S. CPA examination. With effect from April 5th 2004 the Examinations for CPA will be online & on-demand & will be offered in 2 months out of every 3.

For instance, with a start date of April 5, 2004, candidates will be able to sit in April & May and will not be able to sit in June; the exam will be offered in July & August and will not be offered in September; candidates will be able to sit in October & November and will not be able to sit in December, & so on. Candidates will be able to sit up to 6 days a week, Monday through Saturday 9:00 a.m. to 6:00 p.m. at a Prometric Site. The administration of the Examination is held at the State Level.

Our In-House CPA PassMaster Software will be offered for FREE for every CPA registered candidate. This Software enables students to complete their Homework assignments & also offers Test Questions not available in your Textbooks.

Course Details

Papers

There are 4 Papers, namely:
  1. Financial Accounting & Reporting  “FARE”
  2. Auditing & Attestation “AUD & ATT”
  3. Regulation “REG” (Taxation)
  4. Business Environment & Concepts “BUS ENV”

To Pass the CPA Examination one has to score 75% in each of the Papers.

Paper 1 – Financial Accounting & Reporting (FARE)

FARE 1 : Standard Setting, Income Statement, and Reporting Requirements
  • Accounting Standards and Conceptual Frameworks, Income Statement Income from Continuing Operations
  • Discontinued Operations and Exit or Disposal Activities, Extraordinary Items
  • Accounting Changes and Error Corrections, Comprehensive Income, Balance Sheet and Disclosures,
  • Interim Financial Reporting, Segment Reporting, Development‐stage Enterprises (U.S. GAAP), First‐time adoption of IFRS, SEC Reporting Requirements, Appendix: IFRS vs. U.S. GAAP.
FARE 2 : Matching (Revenue & Expenses), Foreign Currency Accounting, and Other Financial Statement Presentations
  • Timing issues: Matching of Revenue and Expenses, Correcting and Adjusting Accounts
  • Long‐term Construction Contracts, Accounting for Installment Sales
  • Accounting for Non-monetary Exchanges, Financial Reporting and Changing Prices
  • Foreign Currency Accounting, Other Financial Statement Presentations
  • Appendix: The Codification, Appendix: IFRS vs. U.S. GAAP
FARE 3 : Marketable Securities and Business Combinations
  • Marketable Securities, Business Combinations/Consolidations
  • Cost Method (External Reporting), Equity method and Joint Ventures
    (External Reporting), Consolidated Financial Statements
  • Acquisition method, Intercompany Transactions
  • Combined Financial Statements/Push Down Accounting
  • Appendix I: Illustrative Consolidated Financial Statements
  • Appendix II: IFRS vs. U.S. GAAP
FARE 4 : Working Capital and Fixed Assets
  • Working Capital and its Components, Inventories
  • Fixed Assets, Depreciable Assets and Depreciation
  • Fixed Asset Impairment, Appendix I: Other Inventory
  • Cost Flow Assumptions, Appendix II: IFRS vs. U.S. GAAP
FARE 5 : Leases, Liabilities, and Bonds
  • Present Values and Annuities, Accounting for Leases
  • Long‐term Liabilities and Bonds Payable
  • Appendix: IFRS vs. U.S. GAAP
FARE 6 : Pensions and Income Tax Accounting
  • Pension Plans, Post-retirement Benefits Other than Pensions
  • Other Deferred Compensation and Benefits
  • Accounting for Income Taxes, Appendix: IFRS vs. U.S. GAAP
FARE 7 : Stockholders’ Equity, Cash Flows, and Ratio Analysis
  • Stockholders’ Equity, Earnings Per Share
  • Statement of Cash Flows, Appendix I: Ratio Analysis
  • Appendix II: IFRS vs. U.S. GAAP
FARE 8 : Governmental Accounting
  • Governmental Accounting Overview
  • Modified Accrual Accounting
  • Deferred Outflows and Inflows of Resources
  • Governmental Funds, Proprietary Funds
  • Fiduciary Funds
FARE 9 : Governmental and Not‐For‐Profit Organizations
  • Governmental Accounting (Part B)
  • Not‐for‐profit Organizations
FARE 10 : Fair Value, Partnerships, VIEs, AROs, Liabilities, Contingencies, Subsequent Events, Financial Instruments, and Review of IFRS vs. U.S. GAAP
  • Fair Value Measurement, Partnerships
  • Variable Interest Entities (VIEs)
  • Asset Retirement Obligations (AROs)
  • Troubled Debt restructuring
  • Other Liabilities and Debt Covenants
  • Estimated and Accrued Liabilities
  • Contingencies, Subsequent Events
  • Financial Instruments
  • Review of IFRS vs. U.S. GAAP

Paper 2 – Auditing & Attestation (AUD & ATT)

AUD & ATT 1: Audit Reports

Audited Financial Statements: The Basics,
Professional Standards, Reports on Audited
Financial Statements, Reports on Comparative
Financial Statements, Events occurring after Year‐end Reporting on Other Information.

AUD & ATT 2: Other Reports

Quality Control Standards, Other Engagements, Reports, and Accounting Services, Compilation and Review of Financial Statements, Reporting on Comparative Financial Statements, Review of Interim Financial Information, Letters for Underwriters, Attest Engagements.

AUD & ATT 3: Engagement Acceptance, Planning, and Risk Assessment

Engagement Acceptance and Understanding the Assignment, Planning and Supervision, Audit Risk, Fraud Risk, Compliance with Laws and Regulations, Assessing the Risk of Material Misstatement, Internal Control, Responding to the Assessed Risk of Material Misstatement.

AUD & ATT 4: Audit Evidence

Audit Evidence, Audit Procedures by Transaction Cycle, Other Audit Procedures, Evaluating Audit Findings, Appendix I: Financial Ratios, Appendix II: Control Procedures and Tests of Controls.

AUD & ATT 5: Sampling and Communications

Audit Sampling, Internal Control Communications, Communication with those charged with Governance, Management Representations.

AUD & ATT 6: Professional Responsibilities, Audit Documentation, Effect of IT, and Government Auditing

Professional Responsibilities, Audit Documentation, The effect of Information Technology on the Audit, Government Auditing.

Paper 3 – REGULATION (REG)

REG 1: Individual Tax—Income

Individual Taxation: Filing Status,  Individual Taxation: Exemptions,
Individual Taxation: Gross Income,
Individual Taxation: Capital Gains and Losses, Employee Stock Options.

REG 2: Individual Tax—Adjustments, Deductions, and Credits

Adjustments and Itemized Deductions, Tax Calculations and Credits, Individual Taxation: Other Taxes, Individual Taxation: Other Items.

REG 3: C & S Corporation Taxation & Exempt Organizations

C Corporations, Depreciation, and MACRS, Small Business Corporations (S Corporations), Exempt Organizations, Multi-jurisdictional Tax issues in Federal Taxation.

REG 4: Property, Partnership, and Estate and Gift Taxation

Property Taxation, Partnership Taxation, LLC Taxation, Estate, Trust, and Gift Taxation.

REG 5: Professional Responsibilities and Securities Regulation

Ethics and Professional Responsibilities in Tax Service, Sarbanes-Oxley Act of 2002, Federal, Legislative, and Judicial Processes; the IRS; and Taxpayer Penalties, CPA Legal Liability, Securities Regulation.

REG 6: Business Law 1

Contracts, Sales, Copyrights and Patents.

REG 7: Business Law 2

Commercial Paper, Secured Transactions, Bankruptcy.

REG 8: Business Law 3

Suretyship & Creditors’ Rights, Agency, Business Structures, Employer-Employee Law, Money Laundering, Antitrust Law, Documents of Title, Dodd-Frank Act of 2010.

Paper 4 – BUSINESS ENVIRONMENT & CONCEPTS (BEC.)

BUS ENV 1: Corporate Governance and Operations Management

Corporate Governance, Operations Management: Performance Management and impact of Measures on Behavior, Operations Management: Cost Measurement Methods and Techniques.

BUS ENV 2: Strategic Planning

Planning Techniques: Forecasting and Projection, Planning Techniques: Budgeting and Analysis.

BUS ENV 3: Financial Management

Financial Modeling and Analysis, Capital Management, including Working Capital.

BUS ENV 4: Information Systems and Communications

Organizational needs Assessment, Systems Design and Other Elements, Security, Internet implications for Business,
Types of Information Systems and Technology Risks, Disaster Recovery and Business Continuity, Appendix: IT Fundamentals.

BUS ENV 5: Economic Concepts

Changes in Economic and Business Cycles, Economic Measures/Indicators, Market Influences on Business Strategies.

BUS ENV 6: Process and Project Management, Globalization, Financial Risk Management, Decisions, and Valuation

Operations Management: Process Management, Operations Management: Project Management, Globalization and Local Economies, Financial Risk Management, Financial Decisions, Financial Valuation, Internal Auditing Standards.

Please click on the link below for more information on the New Syllabus.
www.becker.com

Registration Procedures

Once you register with us you will be required to send all your testimonials (consisting of All Mark sheets & Certificates from Std. X till current Educational status) to an Evaluation Agency approved by the State Board. You will also have to select the State Board where you wish to apply; we will guide you here.

The Evaluation Agency shall evaluate your Credentials, equate your Educational Background with the American standards to see if you qualify to apply in that State for the CPA Examination, prepare an Evaluation Report on that basis, & will get back to you in 4-6 weeks time.

It will simultaneously send your testimonials to the Concerned State Board along with a copy of the Eligibility Report. One Copy of the Eligibility Report is sent to you, the candidate. You will then have to apply to the State Board, along with the Examination & Application Fee & other relevant Documents, asking them to consider you as a Foreign Candidate.

Within approximately two weeks of the approval of the application and payment of all fees, the state board or its designee will issue a Notice to Schedule (NTS) to the candidate. Once the NTS is received, candidates must verify the accuracy of all information. If any information is inaccurate the candidate must contact the state board before scheduling any exam with Prometric. If the NTS is accurate, students can then Schedule exams with Prometric.

Eligibility

To qualify to write CPA, one has to be either a B.Com./M.Com./CA/ICWA/MBA (Fin)/BE or other Graduate or Post Graduate with some Accounting Courses. No Practical Experience is required to write the CPA Examination.

Qualifications required to sit for the CPA Exam in the USA vary between state boards of Accountancy. We provide assistance to candidates on an individual basis, to identify the State Board that satisfies his/her conditions. Upon obtaining the CPA Certificate, if one wishes to apply for a job then he/she can go straight ahead & apply. However, to Practice as a CPA in the USA, the candidate has to obtain a License to Practice by working under a Practicing CPA for 2-3 years in the USA. .

Candidates who have qualified as B.Com. Graduates with a 1st/2nd Class throughout the B.Com. Program from a NAAC Certified University are requested to kindly contact this Office for further Counseling & guidance.

Important note:

Exams are only offered at Prometric Testing Centers in the US & the Middle East viz. Kuwait, Bahrain, Lebanon, & the U.A.E. (For details of Terms & Conditions for Testing Centers in the Middle East, please get in touch with the Local Becker Office).

Course Duration

Becker conducts a 3-month Live, Interactive, & Multimedia Course. Classes for the April-May Window CPA Examinations commence in the 4th week of December/ 1st week of January; Classes for the October-November CPA Examinations in the 4th week of June/ 1st week of July.

Classes are held only on Sunday’s from 9:00 a.m. to 6:00 p.m. for 13 Weeks, I Day Per Week, 8 Hours Per Week. Homework will be given at the end of each session. Registrations for the October-November 2014 CPA Examinations are open.

Becker Professional Review – A Division of Devry Inc:

Becker Professional Education is a Division of a Public Company – DeVry Inc. – www.devryinc.com , and is the leading provider of these courses on a global level in over 300 cities in the US and 20 countries worldwide with 11 Centres in India. DeVry Inc’s divisions include, amongst others:

  • Advanced Academics – www.advancedacademics.com
  • DeVry University – www.devry.edu
  • Keller Graduate School of Management – www.keller.edu
  • Ross University –  www.rossu.edu
  • Chamberlain College of Nursing – www.chamberlain.edu

Fee Structure

The Course Fee of US $2200 which includes Classroom Training & Course Material (+12.36% Service Tax, Payable on the entire Portion of the Fees) + 1,000 is payable is payable as follows:

At the time of Registration:

Total Fees for the CPA Course (After Discount) – US$ 1930 + 1000 (Administrative Charges)   + 12.36% Service Tax = 1,31,113

  • 1st Installment US$ 400 (@ Exchange Rate of Rs. 60) = 24,000 by Cash/Cheque/NEFT
  • 2nd Installment US$ 530 X 60 = 31,800 + 6,897 (ST @ 12.36% on US$ 930) = 38,697 will be payable 15 days prior to the Course commencing by Cheque
  • 3rd Installment US$ 1000 X 60 = 60,000 + 12.36% = 67,416 by INR Cash/Cheque on the 1st day of Class

Our coaching fees are the lowest, next only to the U.S., and a Corporate Discount of US$ 270 is available to company/firm-sponsored candidates.

Note: Educational Loan Facilities Available