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Title: Can I pursue US CPA after B.Com? A guide to the eligibility criteria

Usually, in the third year of BCom we ask each other about what we will do next. Some of us may say ”We’ll pursue masters," while others may say, “I want some industry experience. I’m looking for a job.” If you are following your passion, that’s great too! There is another category of people who go for professional courses. You are reading this because maybe you want to explore what a US CPA is or more. If not, somehow you landed on this page. Congrats, you are going to explore an amazing career opportunity! Go ahead!

For Indian students who have recently completed a Bachelor of Commerce (B.Com.) degree, aspiring to become a US Certified Public Accountant (CPA) can be a significant career booster. This prestigious credential, recognized globally, opens up vast opportunities in auditing, tax, financial advisory, and beyond. However, navigating the eligibility requirements, especially with a typical 90-credit B.Com. degree, requires strategic planning and understanding of the US CPA exam and licensure process, including the adaptation to the new core+discipline exam model introduced in the syllabus. This blog will explore what a US CPA is, job roles & responsibilities of a US CPA, how B.Com. graduates can meet the eligibility criteria for the US CPA exam and license, and delve into the new exam structure.

Who is a US CPA?

A US CPA (Certified Public Accountant) is a licensed accounting professional who has met specific educational and licensing requirements and passed the Uniform CPA Examination, which is administered by the American Institute of Certified Public Accountants (AICPA). The designation is regulated by the individual state boards of accountancy in the United States.

Job Roles and Responsibilities of a US CPA

Before you explore the course further, check the job roles of a US CPA.

1. Auditing and Assurance: CPAs are qualified to conduct audits of public, private, and nonprofit organizations, ensuring financial statements are presented fairly and in accordance with Generally Accepted Accounting Principles (GAAP).
2. Tax Preparation and Planning: They prepare and file tax returns for individuals, businesses, and other organizations and provide strategic tax planning advice.
3. Management Consulting: Many US CPAs offer advisory services, helping organizations enhance their performance through financial planning, risk management, and the implementation of effective financial management strategies.
4. Forensic Accounting: Some specialize in investigating financial records to uncover potential fraud and other irregularities.
5. Regulatory Compliance: They ensure that organizations comply with tax laws and financial regulations.

Do these job roles and responsibilities feel like your cup of tea? Then read further. Also, you can specialize in any of these responsibilities and build a career in it.

Understanding the 150-Credit Hour Requirement

The US CPA credential necessitates completing 150 semester hours of education, which is roughly 30 semester hours more than what a US bachelor’s degree offers. In India, a B.Com degree typically equates to about 90 semester hours, leaving a significant gap that needs to be bridged. So, what can you do?

Bridging the Education Gap

1. Additional Degrees: Pursuing further education like a Master's in Commerce (M.Com), Business Administration (MBA), or specialized post-graduate diplomas in finance or accounting can help accumulate additional credits. These programs not only provide the necessary credits but also deepen the candidate's knowledge base in critical areas.
2. Accredited Online Courses: Enrolling in additional courses from accredited institutions, including online platforms that offer courses accepted by various state boards, is a viable option. It’s essential to ensure that these courses are recognized by the specific state board you plan to apply to.
3. Certificate Programs: Certain certificate programs in accounting or related fields can also contribute to the required hours and are often tailored to help students prepare for specific sections of the US CPA exam.

From all these options provided, we highly prefer to go for the first option! It is always better to pursue MCom Finance or MBA Finance if you are focused on a career as a US CPA.

Happy news for a CA inter qualified student with a BCom or CMA India student with a BCom, you are eligible to write the exam. But still, you need to bridge the gap to get the license.

Evaluating Credentials

Before registering for the US CPA exam, international candidates must get their educational credentials evaluated by an agency approved by the state board of accountancy. This evaluation will confirm whether your combined education meets the 150-hour requirement. There is a one time evaluation fee of $225 (this is a fluctuating rate).

Choosing the Right State Board

You are writing the exam and taking the license under any one of the US states. This happens because America uses a system of federalism, which gives power to each state. Different US states have varying rules regarding educational and residency requirements:

• States without Residency Requirements: Some state boards allow international candidates to take the CPA exam without being a resident of that state.
• Social Security Number (SSN) Requirements: Not all state boards require candidates to have an SSN, which is an essential consideration for international candidates.

Kindly note that there are other US states  that  don't ask for these requirements of residency or SSN. As an Indian & international candidate, you will be applying to these states.