2013 The CPA Exam Attorney Paul M. Kasprowicz, CPA
Dec 15, 2015
2013
The CPA Exam
Attorney Paul M. Kasprowicz, CPA
Becker Professional Education
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Obtaining your CPA License
Education | Exam | Experience
Every state is unique
The Three E’s
State Requirements
Becker.com/stateState Board of AccountancyThisWaytoCPA.com NASBA.org (National Association of State Boards of Accountancy)
CPA Exam Process
Qualify• Review state
requirements
Apply• Submit your
application to sit for the CPA Exam
Prepare• Enroll in
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Schedule• Schedule
exam with Prometric
Succeed• Study and sit
for the CPA Exam
5 Key Steps
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MAR
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AUG
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2nd Qtr Window
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3rd Qtr Window
4th Qtr Window
• Sit for exams as soon as eligible.
• Must pass all 4 parts within an 18-month window.
• Firms want new hires to pass early in their careers.
Begin Application Process
The On Demand Exam
Structure and Content
About the CPA Exam
Exam Overview
4 Independent SectionsFinancial Accounting and Reporting (FAR)4 hours
Regulation (REG)3 hours
Auditing and Attestation (AUD)4 hours
Business Environment and Concepts (BEC)3 hours
Exam can be taken in any state or jurisdiction
Exam is administered at Prometric Testing Centers
Financial
Financial - Structure
60%
40%
• Three multiple-choice question (MCQ) testlets containing 90 questions
• One testlet containing seven short, task-based simulations (TBS)
• 15 MCQs and 1 TBS are pretest questions
• Passing Grade 75
Financial - Content
Concepts & Standards (including
IFRS)17% - 23%
Financial Statement Accounts27% - 33%
Specific Transactions
27% - 33%
Government Accounting
8% - 12%
Not-for-Profit Accounting8% - 12%
Financial - IFRS
Demonstrate knowledge and awareness of the following:
• Differences between financial statements prepared under U.S.
GAAP and under IFRS
• First-time adoption of IFRS related to financial reporting,
presentation and disclosures in general-purpose financial
statements
Audit
Audit - Structure
60%
40%
• Three multiple-choice question (MCQ) testlets containing 90 questions
• One testlet containing seven short, task-based simulations TBS
• 15 MCQs and 1 TBS are pretest questions
• Passing Grade 75
Audit - Content
Professional Re-sponsibilities
16% - 20%
Engagement Accep-tance & Understand-ing the Assignment
12% - 16%
Understanding the Entity & Environment
16% - 20%
Performing Audit Procedures & Eval-
uating Evidence16% - 20%
Evaluating Findings, Communication &
Reporting16% - 20%
Accounting & Review Engagements
12% - 16%
New Statement on Auditing Standards• AICPA’s Clarified Statements on Auditing Standards (SAS) are
testable on the CPA Exam beginning July 1, 2013
– The standards were re-drafted to make them easier to read,
understand and apply and to converge with international
standards
• CPA candidates should plan to take the Audit exam in the first two
testing windows of 2013 (Jan-Feb or Apr-May) before the Clarified
SAS become testable
• Becker’s 2013 Audit course has been fully updated to reflect these
new standards
Audit – U.S. vs International Auditing StandardsDemonstrate knowledge and awareness of the following:
• International Auditing & Assurance Board (IAASB) - role in establishing International Standards on Auditing (ISAs)
• Differences between ISAs and US Auditing Standards
• International Ethics Standards Board for Accountants (IESBA) Role in establishing International Federation of Accountants (IFAC) Code of Ethics for Professional Accountants.
• Related independence requirements when auditing a U.S. company that supports an audit report based on auditing standards of another country, or ISAs
Regulation
Regulation - Structure
60%
40%
• Three multiple-choice question (MCQ) testlets containing 72 questions
• One testlet containing six short, task-based simulations (TBS)
• 12 MCQs and 1 TBS are pretest questions
• Passing Grade 75
Regulation - Content
Federal Taxation of Entities
18% - 24%
Ethics, Professional & Legal Responsi-
bilities15% - 19%
Business Law17% - 21%
Federal Tax Proce-dures & Accounting
Issues11% - 15%
Federal Taxation of Property Transac-
tions12% - 16%
Federal Taxation of Individuals13% - 19%
Business
Business - Structure
85%
15%
• Three multiple-choice question (MCQ) testlets containing 72 questions
• Three written communication tasks
• 12 MCQs and 1 written communication task are pretest questions
• Passing Grade 75
Business - Content
Corporate Gov-ernance
16% - 20%
Economic Con-cepts & Analysis
16% – 20%
Financial Management19% - 23%
Information Sys-tems & Commu-
nication15% - 19%
Strategic Planning10% - 14%
Operations Management
12% - 16%
Business - IFRS and ISA
• Demonstrate an understanding of globalization in the business
environment
• Explain the underlying economic substance of transactions and
their accounting implications
Exam Structure
Multiple Choice
Simulations
Research Tasks• Research task format based on the FASB Codification™.
Written Communication (BEC Only)
Becker’s CPA Exam Review
Becker CPA Exam Review
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• 31 out of the 37 most recent Elijah Watt Sells
Award winners prepared with Becker’s CPA Exam
Review.
• Since 2005, almost 90% of all Watt Sells
winners have prepared with Becker.
*Becker Professional Education students pass at double the rate of all CPA exam candidates who did not take a Becker course, based on averages of AICPA-published pass rates. Data verified by an independent third-party firm.
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content and functionality of the CPA Exam
Multiple Choice Homework
Simulations
Final Exams
Study Road Map
• Provides guidance on
what to study and how
much time to devote to
each topic.
• Fully integrates all
course elements.
Multiple Choice Questions
• Over 6,500 questions.
• Link to lecture and link
to text features provide
clarification on
challenging topics.
• Complete answer
explanations.
• Timer allows you to stay
on pace.
Simulations
• Over 250 task-based
simulations.
• Functionality mirrors the
CPA Exam.
• Timer allows you to stay
on pace.
Review Before Exam
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how to prepare in your
final days leading up to
the exam.
• Includes two full final
exams per part that
mirror the CPA Exam.
Study Planner
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schedule changes.
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days of study.• Available in live or self-study formats
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• $125 processing fee applies
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“”
Christopher Michael LeonWatt Sells winner and Becker alum
I credit a lot of my success on the exam to Becker. My best advice to other candidates:
Don't skimp on the exam review. The time & money you invest now
will pay off for a lifetime and Becker is one of the best investments you can make.
Contact Information
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1-877-CPA EXAM
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