Miles vs. Competitors

The path to the CPA designation is generally considered time consuming, difficult and expensive. To successfully complete this process you need to develop and follow a disciplined structured study program. So choosing the right CPA review course is the most important decision you have to make on the path to your CPA designation. Miles CPA Review is the largest provider of CPA classroom training in India. Led by India’s favorite CPA instructor (Varun Jain, CPA, CMA), Miles provides the best in-class study material and a unique delivery model – iCPA.
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CPA License – “ONLY” Miles helps you get there

The most common licensing question is whether licensing is necessary if the candidates don’t plan to practice as a CPA in the US.
And the answer is – if you want to put “CPA” behind your name on business cards and résumé, you must have a license.
“ONLY” Miles helps you get there: To apply for the license, you must have work experience under a CPA or verified by a CPA. This is one of the most critical requirements for international candidates because of the 3 years rule and “Miles” is the only review course provider in India with licensed CPA’s who can authorize your work experience.
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Only 4 Exam Parts – “Culture-shock” for CA candidates!!!

CPA exams have four papers, single-level exam which consist of:

FAR – Financial Accounting & Reporting
AUD – Auditing & Attestation
REG – Regulation
BEC – Business Environment & Concepts
The aforesaid four subjects, cover the entire gamut of financial and public accounting. Additionally, CPA offers a professional advantage by enabling candidates to apply accounting concepts to real world scenarios.
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CPA (US) vs. CA (India)

CPA (US) is equivalent to CA (India) with lesser papers and exams. Students can earn the same level of knowledge and greater credibility by pursuing CPA

CPA exams are conducted by AICPA whereas CA exams are conducted by ICAI (Institute of Chartered Accountants of India).

CPA provides broader acceptance, with recognition across the globe. In contrast, CA is recognized only in India and the Middle East.

CPA covers US GAAP & IFRS, while CA covers Indian GAAP. The primary motive for developing IFRS by IASB is to develop a single set of high quality, understandable, enforceable and globally accepted financial standards based upon clearly articulated principles.
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Given the limited supply of CPAs in India, what do MNCs and Big 4s do?

The demand for CPA has considerably grown in recent times with the growth in MNCs and outsourcing of F&A (Finance & Accounting) work from Big4s in India. Consequently, the requirement for candidates with knowledge in US GAAP, IFRS, US Compliance and Taxation has risen. The job market in India is inundated with Indian CAs who are hired for these job roles and though they are able to perform with adequate training on these varied job roles, they are not able to lend the credibility of a CPA. This is one of the primary reasons that the demand for CPA’s has increased in India. MNCs and Big 4s are constantly on the look-out for CPAs. Many of them also sponsor their professionals to pursue the CPA course.
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Why CPAs are required in India?

CPAs are Certified Public Accountants who after having passed a four part exam administered by AICPA and met work experience requirements, earn their title and license to practice in one of the 55 states of United States of America. CPA are accountants and trusted financial advisers for individuals and businesses and help plan and achieve their financial goals. Additionally one of the primary functions of a CPA is to provide assurance services, such as financial audit services whereby a CPA would attest that the financials adhere to US GAAP and are reasonably free from material misstatements.
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8 Common Mistakes by Accountents

Thanks to the huge range of accounting applications available for today’s small and medium-sized businesses, it’s easier than ever to keep an accurate record of where your business’s money is going.

While accounting software has made bookkeeping and accounting easier for small businesses, it’s also made errors and accounting mistakes—from incorrectly categorizing a transaction to doing all accounting yourself—much more common.

Some accounting mistakes are minor, insignificant, and—when they’re inevitably noticed by someone within your business—easy to correct. But others are more serious and could have a significant effect on your business’s financial health.
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From National Accounting Standards to International: An Indispensable Change

As we progress towards the second decade of the twenty-first century, we inevitably come across a rising spade of International Trade. As an offshoot, International Accounting is also gaining its prominent position. Simply stated, International Accounting is the international aspect of accounting encompassing accounting principles and reporting practices in different countries, foreign currency and exchange and the accounting of multinational companies and their subsidiaries.

If we compare some of the traditional areas of accounting, we find a lot of changes from one country to another. These are due to the differences in business environment, culture and the traditional bookkeeping practices. If we compare the accounting practices of India and the USA, we find some of the major differences listed below in a tabulated form here:
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Third Career Path ***

Vishal is a commerce graduate. He finished his college education about two years back and then decided to pursue a career in accountancy. “Enough of studies,” he said to himself “it’s high time to work and build a career.” He appeared for an interview in the accounts department of a leading company and was selected after an extensive screening of 400 fresh graduates. For two years, Vishal became the envy of his batchmates who either chose to study MBA or M Com, as he was financial self-reliant while his friends were still studying in the college. But the situation changed thereafter. While some of Vishal’s friends struggled to stand apart in the crowd of job-seekers, a few of his friends landed in MNCs and reputed Indian companies. One of Vishal’s friends who finished his MBA became the Finance Officer in the very company he was serving as an accountant. This led to a situation where Vishal was peeved and felt terribly down as his own friend became his superior.
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