Chartered Accountant Salary

The term 'Chartered Accountant' used in countries which follow the UK convention, is referred to as Certified Public Accountant (CPA) in the US and also in those countries which follow its convention. To become a Certified Public Accountant (CPA) in the United States of America, it is mandatory to clear the Uniform Certified Public Accountant Examination along with the required state educational qualifications and the requisite experience needs. The National Association of State Boards of Accountancy is the administrative body and the American Institute of Certified Public Accountants sets this exam.

Chartered Accountancy Profession: Overview

To practice as a Certified Public Accountant (CPA) or Chartered Accountant (CA), it is essential that you have the necessary license. It is also very essential to continue the professional education, as failure to do so will give you a designation of CPA-Inactive even though you have cleared your exams. On job training as a Certified Public Accountant, is also an important factor considered before issuing you a license.

Assurance services and services related to public accounting are the main tasks of a Certified Public Accountant (CPA). The assurance services are also known as the financial audit services in which the CPA's adhere to the Generally Accepted Accounting Principles (GAAP). In the private financial services sector, the Certified Public Accountants (CPA) or Chartered Accountants work at positions of prime importance and responsibilities such as the Chief Financial Officer (CFO), Chief Executive Officer (CEO) and also for many senior management-level posts.

To appear for the exam in order to become a Certified Public Accountant, you need to have a graduation degree in accounts and business administration with the minimum set qualifying hours of credit. Though the exam for CPA is the same for all the candidates, the rules for the issuing of licenses and certificates are as per the set norms of the respective states. The experience requirements for the CPA should be known well to all. Though the tier two states do not require work experience, you will not be able to get a license for practice without experience. Some of the states may relax the experience requirement for those candidates who have secured exceptionally well in their academic courses. In the states such as Virginia and Oregon, an experience in the accounting field will be more useful to get the CPA degree. There is also a condition for getting your work experience certificates checked, verified and accepted by an experienced Certified Public Accountant (CPA). As per the new rules and regulations, it is necessary to clear an exam on ethics to obtain a CPA.

You can complete the Finance Accounting and Management accounting papers controlled by the ACCA, and then also clear the 14 exam ACCA program. Again, those having a relevant experience, will need to appear only for six of the fourteen exams. The age requirement for the ACCA programs is twenty one years for all candidates. Becoming a member of your local state society is recommended to CPA holders, to get attractive discounts for attending the seminars for education continuation.

Chartered Accountant Salary

The chartered accountant salary range in the United States will depend a lot on the state where you will be practicing, as bigger states like New York offer more salaries than the others. The chartered accountant salary in USA can be anything between USD 35,000 to USD 45,000 for those CPA's with experience less than three years. A master's degree coupled with the CPA certificate, can help you earn a much better salary due to the increased depth of knowledge. The Chief Financial Officers can earn more than USD 120,000 and financial controllers can expect more than USD 80,000. The average median salary is the maximum, which is USD 75,000 in California and New York, and is followed by Texas at USD 69,000 according to a salary survey.

A career as a Certified Public Accountant and the salary of Chartered Accountants i.e. CPA for deserving candidates is extremely attractive. You can think of this career opportunity, if you have genuine interest in this field.