CPA

Both CPA and ACCA are premier accounting degrees from the USA and UK, respectively. Both are equivalent to the CA qualification in India. The Key difference between CPA and ACCA is the GAAP they specialize in. CPAs are considered experts in USGAAP (used by companies listed on NYSE), while ACCAs work with UK GAAP (used by companies listed on LSE). Both accountants are considered equally well versed with IFRS (widely used in Europe). Another major comparison point is the number of exams, while ACCA has up to 16 subjective style exams, CPA only has 4 objective style exams. ACCA may take multiple years to complete, whereas most people can complete CPA in one year. However, this difference in style of testing doesn't result in a difference in salary. Both accountants get paid comparably and being a CA on top, surely adds value.

In order to be eligible for the CPA exams, one would need 120 education credits. Generally, 1 year of university education in India contributes to 30 credits, I. e. , at the end of 3 years, a graduate will have 90 credits. If the case is that the student graduated from a NAAC A college, then, the same student will get 40 credits per year, summing to 120 credits at the end of 3 years. In your case, if your college is NAAC A, you'll have 120 credits and are good to take up the exams. If it is not NAAC A, then you will have 90 credits. You will have to take up a Diploma programme or a master's programme to get the additional 30 credits to be eligible.

"The Chartered Accountant course is conducted by the Institute of Chartered Accountants of India (ICAI) whereas CPA is an exam conducted by the American Institute of Certified Public Accountant (AICPA). CPA course requires anywhere from 7 months to 1 year to complete. On the other hand, you need to spend at least 4 to 5 years to complete your Chartered Accountant course. CA is a reputed qualification in India. It covers the Generally Accepted Accounting Principles prevalent in India, known as IND-AS. CA license holders have good career prospects in India. Comparatively, CPA is a global qualification that covers International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles in the US (USGAAP). CPA provides accounting professionals with a wide range of career opportunities in the US and various other major countries of the world especially in multi-national companies that originate or operate from the US soil. To take the CPA exam, you need to have a B.Com degree with 1st class or a B.Com degree along with a postgraduate degree. You can also appear for the exam if you have a B.Com degree and an Indian CA qualification. Further, you need to have at least one years experience of working in the Accounting and Finance industry to apply for a CPA license. For pursuing CA course, you need to take the Common Proficiency Test (CPT) after completing your senior secondary education, and there is no mandatory requirement of a degree. However, to apply for a CA license, one needs to have at least three years of article-ship experience in an accounting firm. CPA is an online exam with 4 sections which are Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting and Regulation. However, after you pass the first exam a time limit of 18 months applies to pass the other three exams. The CA has a three-stage exam process with 21 subjects overall. The first stage is the Common Proficiency Test which has 6 exams. Second stage is known as the Integrated Professional Competence Course with 7 exams and the third stage is Final examination which has 8 exams to clear. To clear each CPA exam, you need to score above the 75th Percentile to pass the exam. On the other hand, you can clear a CA exam if you score 40% or more in it with a cumulative average of 50% or more during IPCC or Final Exam stages.

The Chartered Accountant course is conducted by the Institute of Chartered Accountants of India (ICAI) whereas CPA is an exam conducted by the American Institute of Certified Public Accountant (AICPA). CPA course requires anywhere from 7 months to 1 year to complete. On the other hand, you need to spend at least 4 to 5 years to complete your Chartered Accountant course. CA is a reputed qualification in India. It covers the Generally Accepted Accounting Principles prevalent in India, known as IND-AS. CA license holders have good career prospects in India. Comparatively, CPA is a global qualification that covers International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles in the US (USGAAP). CPA provides accounting professionals with a wide range of career opportunities in the US and various other major countries of the world especially in multi-national companies that originate or operate from the US soil. To take the CPA exam, you need to have a B.Com degree with 1st class or a B.Com degree along with a postgraduate degree. You can also appear for the exam if you have a B.Com degree and an Indian CA qualification. Further, you need to have at least one years experience of working in the Accounting and Finance industry to apply for a CPA license. For pursuing CA course, you need to take the Common Proficiency Test (CPT) after completing your senior secondary education, and there is no mandatory requirement of a degree. However, to apply for a CA license, one needs to have at least three years of article-ship experience in an accounting firm. CPA is an online exam with 4 sections which are Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting and Regulation. However, after you pass the first exam a time limit of 18 months applies to pass the other three exams. The CA has a three-stage exam process with 21 subjects overall. The first stage is the Common Proficiency Test which has 6 exams. Second stage is known as the Integrated Professional Competence Course with 7 exams and the third stage is Final examination which has 8 exams to clear. To clear each CPA exam, you need to score above the 75th Percentile to pass the exam. On the other hand, you can clear a CA exam if you score 40% or more in it with a cumulative average of 50% or more during IPCC or Final Exam stages. Despite this, the pass percentage of candidates appearing in a CA exam is about 5% whereas CPA sees a pass.