What is USCPA? USCPA Review

introduce

AICPA is the developer of the USCPA exam rules and content, while the registration and license application for the entire USCPA exam is the responsibility of the US state accounting boards.

purpose

Improve professional standards; unite certified public accountants across the country to establish a unified accounting professional organization; exchange professional knowledge through lectures; establish an industry library; ensure that the title of certified public accountant is recognized by state laws.

Work scope

The scope of work of a Certified Public Accountant in the United States covers many areas in the business field, including: attestation services; financial accounting; management consulting; information technology related to accounting and auditing; corporate finance (including mergers and reorganizations, IPOs, etc.); financial planning; financial analysis; venture capital; forensic accounting; tax planning; estate planning; corporate governance, etc.

Advantages

1. American CPA is widely recognized

The United States is the world's largest economy. Among the world's top 500 companies, American companies account for nearly half. At the same time, American companies are widely distributed around the world.

2. American CPA is highly valuable

The US capital market is one of the largest and most mature capital markets in the world, with relatively high financial requirements. GAAP standards have always led the development trend of international accounting. At the same time, US accounting standards have a great influence on the continuous updating of international accounting standards.

3. The US CPA exam cycle is short

There are only 4 subjects, compared with China's CPA6+1 or ACCA's 14 subjects, the subjects are fewer and the cycle is shorter. It takes about a year to complete the exam.

4. The US CPA exam format is more flexible

The exam is mainly based on multiple-choice questions, and almost all Gaodun US CPA students pass the exam;

5. The US CPA exam format is flexible

Candidates can make their own appointments for the exam based on their own learning situation. There are 8 months in the year when they can take the exam.

6. The US CPA exam focuses more on professional judgment rather than test-taking

7. At present, there is a large talent gap in China, the annual salary of the position is high, the average annual salary is hundreds of thousands, and there is a lot of room for career development. It is a priority for foreign companies to recruit financial managers and financial directors.

8. Certificates and certificates that add points for immigration and studying in North America, Europe, and Australia

Exemption Areas

USCPA can be exempted from the CPA professional qualification examinations in the following seven countries or regions:

Canada (CICA), Hong Kong (HKICPA), Ireland (CAI), Mexico (IMCP), New Zealand (NZICA), Australia (ICAA), United Kingdom (ACA). In addition, USCPA can be exempted from taking 8 subjects of the UK ACCA and there is no requirement to hold a certificate.

Examination Subjects

USCPA only has 4 exams, including Regulation (REG), Business Environment and Theory (BEC), Financial Accounting and Reporting (FAR) and Auditing (AUD). It uses computer-based exams and can be taken 12 months a year. A single subject can be taken four times a year, and the global pass rate is around 50%.

Application conditions (general requirements)

1. Bachelor's degree or about to obtain a bachelor's degree. Some states (such as Delaware State) may allow college education

2. 120 or more total credits (some states require 150 total credits, such as Guam)

3. Requirements for certain accounting credits and business credits

4. Some states (such as Alaska) can replace the required accounting credits with one year of work experience in an accounting firm.

The above requirements often need to be met at the same time.

USCPA Guam exam requirements

Education requirements: Four-year bachelor degree or above;

Accounting courses: Obtain 24 credits of upper-level (third and fourth year) courses. That is, at least 3 credits each of auditing, financial accounting, taxation, management or cost accounting;

Business courses: 24 credits (6 credits in Economics, 3 credits in Finance, 3 credits in Business Law).

Nationality, residency and age requirements

U.S. citizenship or Guam residency is not required;

No minimum age requirement;

Regulations regarding Social Security Number (SSN): No regulations.

Examination Process

1. Confirm credits: total credits, accounting credits, business credits

2. Choose the state to apply for: prepare your transcripts, academic qualifications, and degree certificates, and select the state to apply for.

3. Academic qualification assessment:

(1) Educational certification (about 2-6 weeks): Send the application form, U.S. dollar draft, and sealed transcript to FACS (Foreign Academic Credentials Service) or other educational evaluation agencies acceptable to the state of application <<< Click to evaluate whether you meet the USCPA application requirements

(2) Formal credit evaluation (estimated to take 4-6 weeks)

4. Exam registration: Obtain credit evaluation report and register for the exam (estimated to take 3-4 weeks): New Hampshire, Colorado, Guam, IL, etc.

5. Receive the admission ticket (about 2-8 weeks): This means your registration is successful. Please write down the Section ID.

6. Make an appointment for the examination room:

7. Apply for a visa: prepare visa documents and obtain a visa to the United States (the time interval from appointment to interview varies at U.S. consulates across China. It is recommended that you make an appointment in advance and reserve one month to wait for the interview)

8. Arrange your trip: Book air tickets and hotels (We generally recommend that you book air tickets and hotels after obtaining a visa. Although air ticket prices may fluctuate, it is safer to do so.)

9. Taking the exam: Candidates do not need to go to a particular state to take the exam. Instead, they can choose to take the exam at nearly 300 Prometric test centers across the United States.

CICPA and USCPA

CICPA (China CPA): As a certified public accountant, they generally engage in senior financial accounting, independent auditing, tax consulting, financial planning, etc. Certified public accountants in China are widely distributed and can be found in enterprises, government agencies, public institutions, and accounting firms.

USCPA (United States Certified Public Accountant): USCPA is issued by the American Institute of Certified Public Accountants (AICPA). It is also a necessary high-end certificate in the accounting field in the United States, which is equivalent to the status of CPA in the accounting field in China. Having a USCPA will have good employment opportunities in the United States. Many Chinese in the United States will give priority to accounting, so if you want to develop, work, immigrate, and get a green card in the United States, USCPA will be of great help.