Just like Chartered Accountants (CA's) are granted a license to practice the profession of Accountancy & Taxation in India, similarly Certified Public Accountants (CPA) are granted the license to practice in the US. In some countries, these qualified accountants are called Chartered Accountants (CA's) and in some count, yes, these are called as Certified Public Accountants.
To become a certified a public accountant, a candidate has to clear all the exams conducted by American Institute Of Certified Public Accountant(AICPA). Eligibility requirement varies from state to state. Exam for becoming a CPA is an online computer based exam held at more than 400 Center. The exam is conducted twice every quarter. Us CPA exam is a uniform exam in all states. It consists of 4 sections and each section focus on the understanding of fundamental principles and how to apply them in real life. The four subjects are:
1. Auditing and Attestation (AUD) max time allotted are 4.5 hours.
2. Business Environment and Concepts (BEC) max time allotted are 4 hours.
3. Financial Accounting and Reporting (FAR) max time allotted are 3 hours.
4. Regulation (REG) max time allotted are 2.5 hours.
Each exam consists of Approx. 60% mcq and approx. 40% simulations. Candidate should score a minimum of 75% marks for passing exam.