HERE ARE THE REASONS WHY CHARTERED ACCOUNTANTS MUST TAKE THE CERTIFIED PUBLIC ACCOUNTANTS COURSE
Here are the reasons why Chartered Accountants must take the Certified Public Accountant course
In the accounting industry all over the world, Certified Public Accountants are universally accepted and highly regarded certifications. Just like Chartered Accountants are provided by the Institute of Chartered Accountants of India, Certified Public Accountants are provided by the American Institute of Certified Public Accountants.
Furthermore, CAs have expertise in taxation, auditing, and other areas while CPAs are experts in financial forensics, strategy-making, and other areas as well. Upon completing one's CA, one's quest to become a CPA opens up a whole array of global opportunities and qualifies them for employment in foreign businesses, multinational corporations, and other organizations that require CPA certification as a necessity. CPAs broaden the scope of CAs and make them experts in various areas of accountancy, leading to better career prospects and increased earnings.
The following are some reasons why chartered accountants should pursue CPA training
The CPA designation allows one to gain global recognition and acceptance, and in India, many MNCs and companies are looking for CPA-cleared accountants because they need knowledge of International Financial Reporting Standards as well as General Accepted Accounting Principles. There has been an exponential increase in the number of Indian companies looking for accountants with international accounting knowledge since globalization began in India.
- Opportunity in the global marketplace:
Having a CPA certification from the AICPA ensures preference from multinational companies and freedom to practice globally. You get better salaries and perks by being internationally recognized, as well as being known as a dual-certified professional, adding favoritism to your profile. The CPA program is globally recognized because accountants who complete it gain knowledge of universally followed and practiced accounting practices and standards.
Having cleared the CA, it is relatively easy to clear the CPA, which requires less time and effort. Getting the right training and understanding the CPA syllabus makes learning and understanding it easier and takes less time. As soon as you complete the CPA course, you will be able to work in different fields, such as forensic accounting, taxation, financial planning, assurance services, and internal and external auditing. This makes you multifaceted, enabling you to apply your skills and knowledge to multiple fields.
- Providing specialized services:
Some areas can only be handled by CPAs and not by CA's, so clearing your CPA after CA helps you become a specialist in many areas, thereby paving the way for you to sustain your career. CPAs help companies assess risk, revise information handling and technology, etc. and the CPA certification opens doors to work for major businesses and earn substantial salaries.
If you have cleared the CPA course, you won't have to worry about job security as it equips you with additional skills and knowledge that are always in demand by companies and multinationals. Just doing CA won't guarantee a big salary or security, but having dual certification in CPA will. In high demand due to their wide array of skill sets, CPAs are in high demand because they are able to learn and understand a wide range of knowledge and practice. If an economy is in tough times, CAs, and even an average CA, are the ones most affected, and having your CPA certification on your side keeps you afloat.
- Learning Opportunities Abound:
With the advent of the digital age, the role of artificial intelligence, the importance of information technology, and the constant changes in tax laws, accountants must learn in an ever-increasing loop. Due to the dynamic nature of the finance and accounting industries, laws and regulations are constantly changing. It is extremely vital for CPAs to stay up-to-date with changes and shifts in the accounting sector, as professionals in this field are at the forefront, so it is their duty to keep up with these changes and shifts in the field. This keeps CPAs up-to-date and enhances the profile of professionals in the field.
There are many reasons why you should take the CPA course to help you land a job with good compensation. The CPA program has opened doors for many to work with large multinational companies, and most people also consider salary and benefits when applying for professional programs. In the study, it was found that people who are dual-certified, that is, CA and CPA, earn more money than those who are only CA, and getting a CPA license can provide a number of benefits to your career.