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Indian CA and CPA US both are professional qualifications although they differ from each other in many ways like duration, cost, exam pattern, recognition, subjects covered, pass percentage to name few of it.
CPA vs CA: Here is a comparison between the two:
|Topic of Comparison||CA||CPA US|
|What is CA /CPA US||CA in India is Chartered accountant under ICAI|
( Institute of Chartered Accountant of India )
|CPA is Certified Public Accountant under different US recognized states and considered as the hallmark in the world of Chartered/Public Accounting.|
|CPA vs CA: Governing Bodies||The Institute of Chartered Accountants of India is the national professional accounting body of India. It was established on 1 July 1949 as a statutory body under the Chartered Accountants Act, 1949 enacted by the Parliament to regulate the profession of Chartered Accountancy in India.||A certified public accountant (CPA) is a designation given by the American Institute of Certified Public Accountants (AICPA) to individuals that pass the Uniform CPA Examination and meet the education and experience requirements.|
|CPA vs CA: Duration of Course||Approximately requires 4 to 5 years to get completed||It takes around 1 year to get completed.|
|CPA vs CA: No of levels||CA comprises of three levels like CPT, IPCC and final||Its is a single level exam comprising of four sections|
|CPA vs CA: Eligibility Criteria||Can be done so after clearing 12th std exams in India.||Traditionally requires five years of education in accounting and business courses. In the Indian system, this is equivalent to a bachelor’s degree and a master’s degree/diploma in finance.|
|Subjects covered||16 papers divided into groups||It has 4 exam sections|
|Article ship requirement||3 years of internship experience is must||One year post qualification experience in order to obtain COP / License|
|How tough are both the exams||The exam are not tough , it is intense and lengthy because of its holistic and diversified approach of the sectoral economy of India||CPA is totally focused on providing extensive knowledge in Taxation, Audit and Accounting needed to compete in the cut throat competition in the accounting and auditing sector worldwide.|
|Exam Center||Exam are conducted all over India||Indian Candidate needs to go to countries like Lebanon, United Arab Emirates, Kuwait, and Bahrain to appear for the exam|
|CPA vs CA: Cost Involved||As can be done from any part of India , the total cost required to do the course is less as compared to CPA US. But the time requirement is 4 to 5 times more than that of CPA US and Time is Money.||The course is costly and there is an additional cost involved in traveling to a different country to appear for the exam. Make a budget of 4 lakhs to finish CPA US.|
|Salary Expected||In India is. 6.5 to7.8 lakh per annum as a fresher in MNCs. You can practice within India.||In the U.S. is$62,410and in India minimum ₹ 12lakhs per annum for a fresher. You can work in the Big 4s and US accounting firms all over the world and practice in the US and a few specific countries.|
|Recognition||India and middle East||CPA US has job opportunities across the globe not limited to US|
|CPA vs CA: Pass Rate||18.4% in Grp 1 and 23.97% in Grp 2 in 2019.||49.4% is global pass rate|
I hope a glance on the table shows the major difference between CA and CPA US. Although the job responsibility involved in both the courses is taking care of the finances of the organization still there are a few things which should not to be forgotten before one decides his or her area of interest and plan his future career path.
Today’s technology has been a boon in providing vast career options to the student but at the same time its creating a lot of chaos in their mind also thus leaving them confused .Thus I would suggest the have patience and consult with experts like Hock India to find out the real skill set you possess, what exactly you aspire for and the relevant career path you should opt for.
CA and CPA US are great career enhancement for both students as well as professionals. Stop procrastinating and take a smart decision.
This blog is written by Rachana Agarwal