US CPA - an introduction

monky999 · 02-26-2010, 04:22 PM

Hey raheel,

I am currently doing CA and will be done with it soon (InshAllah), besides i am also doing ACCA and i have a b.com degree from KU. I wish to pursue my career as a CPA. With what i have heard (nothing authentic), is that in some states, a Pakistani CA only has to take the last 3 pprs in order to qualify as a CPA. However, this is done after scrutiny and varies on case to case basis. Is that true?

Any other suggestions as to how a Pakistani CA can make it there.

shani420 · 02-26-2010, 04:51 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by monky999
 
Hey raheel,

I am currently doing CA and will be done with it soon (InshAllah), besides i am also doing ACCA and i have a b.com degree from KU. I wish to pursue my career as a CPA. With what i have heard (nothing authentic), is that in some states, a Pakistani CA only has to take the last 3 pprs in order to qualify as a CPA. However, this is done after scrutiny and varies on case to case basis. Is that true?

Any other suggestions as to how a Pakistani CA can make it there.
<hr height="1" noshade id="quote"></blockquote id="quote">
hello bro,
Though this question is not directed towards me but I just want to clarify.CA(ICAP),ICAEW,CIMA,ICMAP and ACCA , all of these bodies r required to pass all 4 cpa exams.There is no exemption available to them at all in any state.Only following bodies currently have exemptions in USCPA.
1)ICAA (AUSTRALIA)
2)CPA (AUSTRALIA)
3)ICAI (IRELAND)
4)CICA (CANADA)
5)NZICA (NEWZEALAND new agreement starting this year2010)
6)MEXICO accouniting body(I forget its name)
these 6 bodies r exempt from all 4 papers and just required to pass 1 qualfying exam.
And to sit in CPA u will be required to have 150 CH(120 CH in very few states).
Greatkhans has provided a good link above. Go there and post ur query.TORONTO-BOY is also a USCPA and usually answers queries there.As far as ur bcom from KU is , it would get around 60 CH in assessment.Another thing dear various states and assessing authorities award different C HOURS to one qualification.One student with Bcom and ICMAP recently could not cross 150 CH requirements.It is better to move to above thread of forum and ask TORONTO-BOY(I suggested his name because he is a very active forum member and posts reply quickly.No offense to Raheel).
Regards.

nomanchaudhry · 02-26-2010, 07:45 PM

@GreatKhans Visa and travel cost is not an issue as i have a valid visa and my family members live there so staying is also not an issue. Suggest any workaround, how to get it done!

nomanchaudhry · 02-26-2010, 08:06 PM

@ TorontoBoy Can u advice what to do?

thanks
NC.

Toronto_Boy · 02-27-2010, 01:22 AM

Dear Noman

Please see my reply on following thread, just to keep it for reference/benefit for other potential future candidates.

http//www.accountancy.com.pk/forum/topic.asp?topic_id=7415

Best Wishes

monky999 · 02-28-2010, 12:31 AM

@ shani thanks alot for this info!that was quite helpful

Further, i was wondering that if B.com can earn me 60 CHs, then how many can i get if i do my M.COM as well.

Plus, i was wondering if some1 could help me choose a state. I do not have much preferences as to family or relatives, so i wanna go to the place where there is greatest scope for a CPA and where there are enough firms to hire me.

And also if some one could help, regarding the visa processes and all. Like what visa will i seek when i go to take my papers (will it b the student visa), then how do i get a job there, and how will my visa be converted, as in all the legal matters??

Thnx!

shani420 · 02-28-2010, 02:19 AM

Dear monky999,
MCOM would also get 60 odd C hours and ur CA would get some C Hours in evaluation also.For visa and choice of state , Maqszaman ,tornto-boy or Raheel can guide better as they r CPAs.But I guess u would not get a student visa just for cpa exams.Some other visa would be required.
Well best of luck for ur CA and CPA.
BTW U should visit the thread given in Toronto-boy's above post.It would help u.
Regards.

Toronto_Boy · 02-28-2010, 04:25 PM

Dear monky999

Its good to know that you wanna study for CPA. But planning for CPA without having valid US Visa could be quite risky, in my view, as decline of visa application would make all efforts fruitless and may cause frustration. Under current conditions getting US Visa is a matter of very good luck.

However, one needs just "visit visa" to appear in exams. To apply for or to enter USA, a candidate needs "notice to schedule" issued by State Board Coordinator (on behalf of Board).

Yes, MCom alongwith BCom can provide around 150 C.Hours. Once you select any specific State, send all transcripts/degrees to "evaluator", then you would know with surety about any deficiency, which you can make-up by taking required courses before appearing in exam.

You would have to spend some time by checking each relevant State's requirements and by matching those with your case. Please ignore my incapacity to do much help here. CPA jobs are in every State, even license is transferable (with some conditions), but each State's requirements are unique.

Unfortunately, I don't know anything about US visa process from Islamabad. You may need "visit visa". Please remember this is neither mid 90's (when several US IT companies hired directly and sponsored candidates to change their legal status in US) nor your field is IT. So, first getting a job on visit visa and then change of legal status are very difficult tasks.

Again as I said earlier, all efforts relating to preparation can go in vain, if you could not get valid visit visa, which is quite difficult task these days.

Another alternative route to do CPA and job in States is through Canadian immigration. Once you become Canadian citizen, you may go to US for work with very minimal requirements. Following thread may help you.

http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=6286&whichpage=1

I hope it helps.

Regards

monky999 · 03-04-2010, 04:13 AM

shani and toronto boy, thanks alot! it was great help....mite need more help later...!!!

maqszaman · 03-04-2010, 01:50 PM

Hi Noman,

In response to your e-mail, I would like to inform you that the core issue to be eligible to write CPA exam is your educational requirement which is now almost same in all states except for a few state i.e 150 credit hours. If you can meet this requirement there are so many state which are flexible in other requirements such as North Dakota, Illinois, Vermont, Guam, etc.

@Monky999

Toronto boy is right your B. Com, M.com and CA together will fetch around 150 credit hours. M. Com is also a 60 credit hours study like B.Com. ACCA will also fetch some more credit hours. I would also advise you to arrange a visit visa first and then start your studies for CPA.

Regards,

hadeedian · 07-21-2010, 01:27 AM

How many credit hours are available to CFA to write CPA exams? It would be my pleasure if any one can tell on level basis, i mean how many credit hours level 1 , level 2 and level 3 of CFA can fetch?
Regards

Kitro · 07-21-2010, 04:15 AM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by hadeedian
 How many credit hours are available to CFA to write CPA exams? It would be my pleasure if any one can tell on level basis, i mean how many credit hours level 1 , level 2 and level 3 of CFA can fetch?
Regards
<hr height="1" noshade id="quote"></blockquote id="quote">

Zero, none.

hadeedian · 07-21-2010, 04:24 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Kitro
 <blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by hadeedian
 How many credit hours are available to CFA to write CPA exams? It would be my pleasure if any one can tell on level basis, i mean how many credit hours level 1 , level 2 and level 3 of CFA can fetch?
Regards
<hr height="1" noshade id="quote"></blockquote id="quote">

Zero, none.
<hr height="1" noshade id="quote"></blockquote id="quote">

Quite astonishing.... CPA giving credit hours to even Pakistani Bcom and MA, CA, ICMA and even MA English but not recognizing CFA which is also USA based institute and recognized globally....
And CFA does have Accounting, Economics, Maths and Stats in its curriculum.....

I still can't believe ZERO credit hours for CFA to write CPA exam...

Hassiz · 01-24-2011, 10:18 PM

hi raheel,
please reply as soon as poosible..I am doing MBA from karachi and done 4 years BBA. I am applying for the Masters in Taxation from USA.
PLz guide me about this degree (Masters In Taxation).will it would be helpful to find a job? and will it will help me in CPA as well?
Thanks