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All about the CPA Exam

By August 7, 2014AICPA 시험정보

ROGER CPA REVIEW 2013 cpaIf you’re reading this blog, you probably have “becoming a CPA” at the top of your list. Well you’re in luck! Roger CPA Review is here to serve as a one-stop-shop for all you’ll need to know about the CPA Exam, and everything you’ll need to prepare to ace all four parts. Take a look:

The 14-hour CPA Exam, administered by the American Institute of Certified Public Accountants (AICPA), is split into four sections. Candidates must pass each of the following four sections of the CPA Exam within an 18 month window. The four parts of the CPA Exam are as follows:

Auditing and Attestation (AUD)
This exam is 4 hours long, and consists of 3 multiple choice testlets, and 7 simulations.To best conquer AUD, be prepared to tackle planning the engagement, internal controls, obtaining and documenting information, reviewing engagements and evaluating information and preparing communications.

  • Accepting the Engagement
  • Audit Planning
  • Obtaining & Evaluating Evidence
  • Internal Controls
  • Audit Reports
  • Accounting and Review Services Engagement
  • Professional Responsibilities

Regulation (REG)

This exam is 3 hours long and consists of 3 multiple choice testlets and 6 simulations. Prepare for REG by being prepared for ethics and professional responsibility, business law, Federal tax procedures and accounting issues, Federal taxation of property transactions, Federal taxation – individuals, and Federal taxation – entities.

  • 15-19% Ethical and Legal Responsibilities
  • 17-21% Business Law
  • 11-15% Federal Tax Process
  • 12-16% Gain and Loss Taxation
  • 13-19% Individual Tax
  • 18-24% Taxation of Entities
Business Environment and Concepts (BEC)
This exam is 3 hours long and consists of 3 multiple choice testlets and 3 Written Communication Tasks. This exam tests your knowledge of business structures, economic concepts, financial management, information technology, and planning and measurement.

  • 16-20% Corporate Governance
  • 16-20% Economics
  • 19-23% Finance
  • 15-19% IT
  • 10-14% Strategic Planning
  • 12-16% Operations Management
Financial Accounting and Reporting (FAR)
This exam is 4 hours long and consists of 3 multiple choice testlets and 7 simulations. To succeed on FAR, be ready to tackle financial statements, typical items in financial statements, specific types of transactions and events, accounting and reporting for governmental agencies, and accounting and reporting for non-governmental and not-for-profit organizations.

  • 17-23% Concepts
  • 27-33% Accounts & Disclosures
  • 27-33% Transactions
  • 8-12% Governmental
  • 8-12% Not-for-Profits
Black Out Months
Blackout months allow NASBA and the AICPA “maintenance” time to make sure the computerized exam is doing what it is supposed to, evaluate candidate performance and sometimes throw in new CPA exam questions.

But blackout months can be a huge bonus for candidates as it allows you to take a little more time to study, schedule some much-deserved time off or plan important events in your life that have been put on hold because you are pursuing your CPA. If you need a break, by all means take one!

Depending on the section you are studying for, it can take you between 60 and 150 hours total to be prepared to take a section. So blackout months provide the perfect opportunity to focus on studying without having to worry about an exam coming up immediately thereafter. Take advantage of this by freshening up on some study tips during blackout months as it can be easy to get distracted if you aren’t scheduled to actually take an exam during this time.

Why you should pass:
It’s no secret that pursuing accounting as a career path can be highly desirable. In fact, just ranked Accountants and Auditors as #2 on the list of Top Jobs for 2013, boasting 37,123 jobs added since 2010 and 3% growth. Accounting consistently ranks as a stable and thriving industry. Accounting skills are very much in demand and accounting has become a truly dynamic career in this day and age.

There is no better time to launch your career as a CPA. With the Roger CPA Review course, we offer a flexible solution that allows you to customize your course in a way that best suits your study needs. With the Roger CPA Review New Generation Course, you have the ability to tailor your study experience to fit your busy lifestyle.

Posted by Roger Philipp

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