Certified Public Accountant(CPA)

CPA is a globally recognized financial course offered by AICPA (The American Institute of Public Accountants ) USA.

A CPA is a trusted financial advisor who helps individuals, businesses, and other organizations plan and reach their financial goals

All CPAs are accountants, but not all accountants are CPAs.

How to become CPA?

3 Eâ??s are required for licensure:

• Education
• Exam or Uniform CPA Examination
• Experience

I. Conceptual Framework, Standards, Standard Setting, and Presentation of Financial Statements (17% - 23%)

1. Process by which Accounting Standards are Set and Roles of Accounting Standard-Setting Bodies

- U. S. Securities and Exchange Commission (SEC)

- Financial Accounting Standards Board (FASB)

- International Accounting Standards Board (IASB)

- Governmental Accounting Standards Board (GASB)

2. Conceptual Framework

- Financial reporting by business entities

- Financial reporting by not-for-profit (nongovernmental) entities

- Financial reporting by state and local governmental entities

3. Financial Reporting, Presentation and Disclosures in General-Purpose Financial Statements

- Balance sheet

- Income statement

- Statement of comprehensive income

- Statement of changes in equity

- Statement of cash flows

- Notes to financial statements

- Consolidated and combined financial statements

- First-time adoption of IFRS

4. SEC Reporting Requirements (e.g. Form 10-Q, 10-K)

5. Other Financial Statement Presentations, including Other Comprehensive Bases of Accounting (OCBOA)

- Cash basis & Modified cash basis

- Income tax basis

- Personal financial statements

- Financial statements of employee benefit plans/trusts

II. Financial Statement Accounts: Recognition, Measurement, Valuation, Calculation, Presentation, and Disclosures (27% - 33%)

1. Cash and Cash Equivalents

2. Receivables