What is the duration, language, and format of the Certified Public Accountant (CPA) Exam

• Language of Exam: English
• Duration of Exam: 16 hours of total
• Passing score: 75 for each section
• Format: Multiple choice, Task-based, communication tasks

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Who should take the Certified Public Accountant (CPA) Exam

To have a CPA designation, many businesses prefer their accountants. Applicants winning their CPA title will find themselves more hirable and will be better paid. People who wish to become business accountants and explore its dynamic culture to jump-start their certification and lifelong learning goals should take this exam. To become eligible for the exam, a candidate must have completed a 120 program approved by NYSED. As a non-official prerequisite, candidates must have studied the CPA exam dumps. Also, they must have completed their bachelor's degree with accounting as their major.

Topics of Certified Public Accountant (CPA) Exam

The CPA Exam test consists of four, four-hour sections. You must clear all four sections within 18 months with a minimum score of 75 on each part. The core topics for each of the four sections are listed below. These contents are likely to be used for the examination. However, on any particular delivery of the test, other similar topics could also appear.

It is recommended that, where possible, the applicant uses these contents and/or other resources to provide background information on the exam objectives. The syllabus for the Certified Public Accountant (CPA) Exam is listed below with detail of each section and their topics:

1. Auditing and Attestation (AUD)

Objectives covered by this section:

Developing a Planned Response & Assessing Risk (20 to 30%)

• Materiality
• Planning an engagement
• Debtor-creditor relationships
• Entity's internal control
• Specific areas of engagement risk
• Assessing and identifying the risk of material misstatement

Professional Responsibilities, Ethics & General Principles (15 to 25%)

• Ethics and professional conduct
• A firm's system of quality control
• Engagement documentation
• Communication with management
• Communication with component auditors
• Nature and scope

Obtaining Evidence & Performing Further Procedures (30 to 40%)

• Acquisition and disposition of assets
• Written representation
• Sampling techniques
• Internal control deficiencies and misstatements
• Subsequent events
• Performing specific procedures to get evidence

Reporting and Forming Conclusions (15 to 25%)

• Reporting on compliance
• Review service engagements
• Reports on auditing engagements
• Reports on attestation engagements
• Other reporting considerations

2. Regulation (REG)

Objectives covered by this section:

Federal Tax Procedures, Professional Responsibilities, and Ethics (10 to 20%)

• Legal duties
• Federal tax procedures
• Responsibilities in tax practice
• Licensing and disciplinary systems

Business Law (10 to 20%)

• Government regulation of business
• Business structure
• Contracts
• Debtor-creditor relationships
• Agency

Federal Taxation of Property Transactions (12 to 22%)

• Cost recovery
• Gift tax deductions
• Acquisition and disposition of assets
• Gift tax annual exclusion
• Estate and gift taxation
• Determination of taxable estate

Federal Taxation of Individuals (15 to 25%)

• Filing status
• Alternative Minimum Tax
• Passive activity losses
• Gross income
• Reporting items from pass-through entities
• Computation of tax and credits
• Computation of tax and credits

Federal Taxation of Entities (28 to 38%)

• Liquidation of business entities & tax treatment of formation
• Trusts and estates
• Partnerships
• C corporations
• Tax-exempt organizations
• S corporations
• Limited liability companies

3. Financial Accounting and Reporting (FAR)

Objectives covered by this section:

Standard-Setting, Conceptual Framework, and Financial Reporting (25 to 35%)

• Conceptual framework
• Standard setting for non-business entities
• General-purpose financial statements
• Standard setting and conceptual framework for nonbusiness entities
• Special purpose framework
• Public company reporting topics

Select Financial Statement Accounts (30 to 40%)

• Property, plant, and equipment
• Long-term debt
• Investments
• Compensation benefits
• Income taxes
• Intangible assets
• Inventory
• Cash and cash equivalents

Select Transactions (20 to 30%)

• Research and development costs
• Fair value measurements
• Derivatives and hedge accounting
• Software costs
• Business combinations
• Foreign currency transaction and translation
• Contingencies and commitments
• Leases
• Nonreciprocal transfers
• Accounting changes and error corrections
• Subsequent events
• Differences between IFRS and U.S. GAAP

State and Local Governments (5 to 15%)

• Comprehensive Annual Financial Report (CAFR)
• State and local government concepts
• Specific types of transactions and events: calculation, measurement, presentation in a governmental entity, and valuation
• Government-wide financial statements

4. Business Environment and Concepts (BEC)

Objectives covered by this section:

Corporate Governance (17 to 27%)

• Regulatory frameworks and provisions
• Internal control frameworks
• ERM (Enterprise Risk Management) frameworks

Economic Concepts and Analysis (17 to 27%)

• Economic business cycles
• Market influences on business
• Financial risk management

Financial Management (11 to 21%)

• Capital structure
• Working capital
• Financial valuation methods

Information Technology (15 to 25%)

• Role of information technology business
• Information security/availability
• Processing integrity
• IT governance
• Systems development of maintenance

Operations Management (15 to 25%)

• Process management
• Cost accounting
• Planning techniques
• Performance management

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How to study the Certified Public Accountant (CPA) Exam

In order to study for the Certified Public Accountant (CPA) Exam, use the exam blueprints and study resources by accessing the links at the bottom of this document. Use the material on the internet to learn all the exam contents in detail and then take the practice sample tests through the AICPA website. The “Help” button on each sample test provides a link to tutorial topics that can be further used to gain more in-depth knowledge. Students are highly encouraged to join AICPA's Certification community where they can join students from all over the world and learn together. CPA exam dumps are highly recommended for candidates as they are the best study materials. For further exam self-study materials, refer to the links down below.

As always, We recommend a combination of hands-on experience, completion of the training course, and self-study in the areas described in the Exam Outline section of this exam guide as preparation for this exam. After all sorts of study, test your understanding by taking the CPA practice exams. Hover on to AICPA's Website and take a look at study materials provided for the exam. Check for the topics mentioned in the Exam Outline section of this guide to review the online documentation, tip sheets, and user guides and study the details relevant to those topics. Refer to the links at the end of this document for more study material.

CPA AA Exam Syllabus Topics: