How To Pass The CPA Exam: The IPassTheCPAExam.com Guide for International Candidates

CHAPTER 1

Why CPA?

First of all, I applaud your decision to take on this difficult challenge—to study for and pass the Certified Public Accountant (CPA) exam.

Everyone has a reason to become a CPA. Some aspire to become a Big 4 partner, some strive to earn recognition from peers and colleagues, while others want to enhance their credentials, or simply get a secure job that is well paid with a decent work-life balance.

Whatever your reasons might be, I can assure you that passing the CPA exam is going to be one of the most celebrated moments in your life.

What Is CPA?

CPA stands for Certified Public Accountant in the United States. It is a designation granted to individuals who pass the Uniform CPA Examination and have met the educational and working experience requirements.

In most parts of the United States, only licensed U.S. CPAs can sign audit opinions on financial statements. This statutory right differentiates U.S. CPAs from Chartered Accountants and CPAs from other countries, as well as professional designations such as Chartered Financial Analyst (CFA), Certified Management Accountants (CMA), and Certified Internal Auditor (CIA).

Unlike some other professional accounting certifications such as Association of Chartered Certified Accountants (ACCA), CPA does not have a syllabus for which candidates can sign up, take the coursework, and expect to obtain the designation on completion of the coursework.

Instead, candidates must find a way to meet the educational requirements ...