Eligibility for CPA USA Exams with 3-Year Bachelor's Degree and ACCA Affiliate Status
Introduction
Many professionals who have pursued an Accounting qualification like ACCA often wonder if they are also eligible to appear for the CPA USA examinations following their ACCA journey.
The Path to CPA USA Exams from ACCA
After obtaining a Bachelor's degree and an ACCA affiliate status, pursuing the CPA USA is a viable option. However, it's important to understand the requirements and the path to eligibility.
ACCA vs. US GAAP
ACCA (Association of Chartered Certified Accountants) education covers the International Financial Reporting Standards (IFRS), which is distinct from the US Generally Accepted Accounting Principles (US GAAP). Hence, while ACCA is a strong foundation for international accounting standards, it does not provide direct eligibility for the CPA exams in the USA.
No Quick Route for ACCA Affiliates
It's a common misconception that ACCA affiliates can bypass certain CPA USA requirements simply because of their accounting education. Unfortunately, there is no expedited path for ACCA affiliates to earn their US CPA. Each state and the state boards of accountancy have specific requirements for CPA licensure, regardless of previous accounting qualifications.
Earn 150 Credit Hours for CPA Eligibility
To be eligible to take the CPA exams, you need to earn 150 credit hours, which typically include a bachelor's degree and additional coursework. This is a mandatory requirement set by the National Association of State Boards of Accountancy (NASBA).
India-Specific Eligibility Requirements
For candidates from India, if you have completed a (Bachelor of Commerce) from a North American Association of Colleges and Schools (NAAC) A-rated college or university, you meet the 120-credit hour requirement and are eligible to take the CPA exams.
If your degree is from an NAAC A-rated institution, you will have 120 credits, which is sufficient for CPA eligibility. However, if your degree is from an NAAC non-A-rated or other institution, you will need to pursue additional coursework to earn the required 150 credits.
Additional Coursework for CPA Eligibility
To bridge the gap, candidates can pursue a Master's degree, additional courses, or complete credits through a combination of education and work experience. The 150 credit hours are crucial for CPA licensure as per the regulations set forth by individual states.
Contact VG Learning Centre for More Information
For a detailed breakdown of the benefits of a CPA certification following an ACCA background, and to get specific advice on how to achieve CPA eligibility, one may contact VG Learning Centre based in Delhi. They specialize in providing high-quality coaching and support to aspiring CPAs.
Conclusion
While ACCA is a valuable qualification, it does not automatically make you eligible for the CPA USA exams. Completing a bachelor's degree with 150 credit hours is a mandatory step to take the exams. Understand the specific requirements for each state, and pursue the necessary coursework to ensure a smooth path to CPA licensure.
Key Points:
ACCA does not provide direct eligibility for CPA USA exams. 150 credit hours are mandatory for CPA eligibility. India-based candidates with a specific degree from NAAC A-rated institutions can start CPA preparation. Additional coursework is required if degree is from a NAAC non-A-rated or other institution.