Transcription
The CPA Exam
CPA Exam Goes Global! The AICPA is working to have the CPA more widely recognized asan international certification. Thus, the examiners added IFRS to the CPA exam in January of2011. CPA exam now offered at the following Prometric testing centers: Bahrain Kuwait Japan Lebanon United Arab Emirates (UAE) Brazil
CPA (10%) non-CPA
Education Exam ExperienceEvery state is unique
Step 5Step 4Step 3Step 2Step 1Study and sitSchedule examReceive Notice-to-ScheduleApply for CPA ExamReview state requirements
EducationalRequirementsCA 2014To Sit for CPA ExamCA 2014To be 4 accounting units24 business units120 total units150 total units with new accounting, “accounting study”and ethics requirementsRefer towww.dca.ca.gov/cba/applicants/lic require.shtmlfor the specifics as they become available
The On Demand Exam1st QtrWindow2ndQtrWindow3rd QtrWindow4th D Sit for exams as soon aseligible. Candidates can sit for eachsection individually and inany order Section(s) not passedcannot be taken within thesame (3 month) window. Firms want their new hiresto pass early in theircareers.
Auditing& Attestation Financial Accounting & Reporting Business Environment & Concepts Regulation Application Total(first-time) 192.03 192.03 172.51 172.51 729.08 100.00 829.08
CANTS good for 9 months (most states 6 months) Candidatescan sit for each section individuallyand in any order Section(s)not passed cannot be taken within thesame (3 month) window Creditmonthsfor passed sections retained for a rolling 18
Financial Accounting and ReportingAuditing and AttestationRegulationBusiness Environment and Concepts
Exam PartTimeFinancial4 hrsAudit4 hrsRegulation3 hrsBusiness3 hrsTotal 14 hours
Typical coverage Governmental/Not-for-profit 16-24% Financial 71-89% IFRS/SEC Reporting Pension Plans Cash Flows Leases Bonds/Securities Consolidations And more
60% Three multiple-choice question(MCQ) testlets containing 90questions One testlet containing sevenshort, task-based simulationsTBS; research question included No written communication tasks40% 15 - 20% of questions do not count Passing Grade 75
Typical coverage Engagement Acceptance andUnderstanding 12-16% Internal Controls/Fraud 16-20% Audit Procedures/Evidence 16-20% Audit Findings & Reporting 16-20% Accounting & Review Services 12-16% ProfessionalResponsibilities/Independence 16-20% Plus ISA vs. U.S. Auditing Standards And more
60% Three multiple-choice question(MCQ) testlets containing 90questions One testlet containing sevenshort, task-based simulationsTBS; research question included No written communication tasks40% 15 - 20% of questions do not count Passing Grade 75
Typical coverage Taxation 54-74%– Entities, Individual, Property– Process/Procedures/Planning Business Law 17-21%– Contracts/UCC/Agency– Business Structure Ethics, Professional & LegalResponsibilities 15-19% And more Regulation
60% Three multiple-choice question(MCQ) testlets containing 72questions One testlet containing six short,task-based simulations TBS;research question included No written communication tasks40% 15 - 20% of questions do not count Passing Grade 75
Typical coverage Corporate Governance 16-20% Financial Management 19-23% Economics & Analysis 16-20% Operations Management 12-16% Strategic Planning 10-14% Information Systems /Communications 15-19% And more
85% Three multiple-choice question(MCQ) testlets containing 72questions Three written communicationtasks on BEC topics 15 - 20% of questions do notcount15% Passing Grade 75
Qualifying Accounting Experience 1 year in a CPA firm (public accounting) or 1 year in a non-CPA firm (private accounting) in theaccounting function and under the supervision of aCPA Auditing/Attest Experience 500 hours Only required if ability to sign audit/attest reportsis desired
48.15%
CPA Exam Goes Global! CPA (10%) non-CPA . Education Exam Experience . Every state is unique . Step 1 Step 2 Step 3 Step 4 Step 5 . Review state requirements . Apply for CPA Exam Study and sit . Schedule exam Receive Noticeto- -Schedule . Educational Requirements . CA 2014 : To Sit for CPA Exam : CA 2014 . To be Licensed : Baccalaureate Degree ; Yes ; Yes . Unit Requirements . 24 .File Size: 1MBPage Count: 27
