Question 1

What is CPA?

Accepted Answer

CPA (Certified Public Accountant) is a designation given by AICPA to the individuals who have passed the Uniform CPA exam, met the required and relevant experience. The CPA designation enforces high professional standards in the field of accounting.

Question 2

Who are eligible for CPA?

Accepted Answer

The CPA Exams are administered by AICPA, the world's largest accounting body. Each state board has different eligibility criteria. Generally: Master's Degree in Commerce/Accounting/Finance, 120 credits to take the exam and 150 credits to get the license. One year of University education in India equals 30 US credits.

Question 3

Which companies hire CPA?

Accepted Answer

There are many job opportunities in India for US CPA qualified professionals. Big 4s like Deloitte, EY, PwC, KPMG, and many international companies hire CPAs. According to Naukri.com there are around 26,426+ job openings for CPA in India.

Question 4

How many sections are in CPA?

Accepted Answer

The US CPA Exam has 4 sections: Financial Accounting & Reporting (FAR), Auditing & Attestation (AUD), Regulation (REG), and one Discipline (choose from BAR / ISC / TCP).

Question 5

What is the minimum passing score for CPA?

Accepted Answer

You need a score of 75 or higher to pass each of the four sections of the CPA exam.

Question 6

Is there any negative marking for CPA?

Accepted Answer

There is no negative marking in the US CPA exam.

Question 7

What is the duration of the CPA exam?

Accepted Answer

The CPA Exam is a 16-hour exam in total, divided as 4 sections × 4 hours each. Each section includes a mix of MCQs, simulations, and written tasks.

Question 8

What is the cost of CPA?

Accepted Answer

Exam fees: Around $1,000 (for all 4 sections). International testing fee: Around $2,000 (for non-US candidates). Application & evaluation fees: Around $200–$300. In total, Indian students typically spend ₹2–2.5 lakhs on exams alone.

Question 9

What is the scope of US CPA in India?

Accepted Answer

There are many US firms across the globe and a lot of accountancy related assignments are being outsourced to India. Companies like Deloitte, EY, Amazon, Synchrony, Invesco and many more frequently hire in India.

Question 10

Is ACCA better than US CPA?

Accepted Answer

ACCA is a UK program with good scope, but CPA has broader global recognition especially for US GAAP, US Tax, and audit roles in multinational companies.

Question 11

What is US CMA Course?

Accepted Answer

Like we have Cost accountants in India, the US cost accountants are known as US CMA (Certified Management Accountants), the US CMA qualification is governed by IMA (Institute of Management Accountants). Simandhar Education is the pioneer in US CMA Qualification and approved training partners of IMA, USA both in India as well as globally in alliance with Becker professional education, USA.

Question 12

Is US CMA Valid in India?

Accepted Answer

There are many US companies operating in India like Accenture, Capgemini, Cognizant, World Bank, D.E.Shaw, Genpact — majority of them hire US CMA for FP&A profile. US CMA enjoys global recognition, thus there is ever-increasing demand for US Certified Management Accountants in India.

Question 13

Is US CMA Easy?

Accepted Answer

US CMA is composed of two parts — Part 1 and Part 2. Compared to Indian qualifications, US CMA is easier to crack with a pass percentage of 30-35%.

Question 14

What is US CMA Salary?

Accepted Answer

US CMA Salary per IMA survey is around $101,000 per annum in the US. In India, US CMAs are typically hired at ₹3,50,000–₹6,00,000 INR per annum, increasing over time.

Question 15

What is the eligibility criteria for CMA?

Accepted Answer

Bachelor's degree from an accredited college/university or a related professional certification, active membership in IMA, and continuous years of professional experience in management accounting or financial management.

Question 16

What is an Enrolled Agent (EA)?

Accepted Answer

An Enrolled Agent (EA) is the only federally licensed tax practitioner specializing in all areas of taxation. Enrolled Agents represent taxpayers before the Internal Revenue Service (IRS) for tax issues, including audits, collections and appeals.

Question 17

How many parts does EA consist of?

Accepted Answer

EA contains 3 parts: Individuals, Businesses, and Representation, Practices & Procedures. It is suggested to take 1 paper at a time.

Question 18

How many times can a student take 1 paper in a year?

Accepted Answer

Each paper can be taken 3 times in a year.

Question 19

What is the exam pattern for EA?

Accepted Answer

Each part contains 100 MCQs with a duration of 3.5 hours and there is a 15 min break after completing 1 section (50 MCQs). Results are announced immediately once the exam is over.

Question 20

What are the Exam fees?

Accepted Answer

$203 per part, non-refundable and non-transferable.

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