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

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

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

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

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

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

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

Reporting and Forming Conclusions (15 to 25%)

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

2. Regulation (REG)

Objectives covered by this section:

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

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

Business Law (10 to 20%)

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

Federal Taxation of Property Transactions (12 to 22%)

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

Federal Taxation of Individuals (15 to 25%)

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

Federal Taxation of Entities (28 to 38%)

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

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

Select Financial Statement Accounts (30 to 40%)

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

Select Transactions (20 to 30%)

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

State and Local Governments (5 to 15%)

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

4. Business Environment and Concepts (BEC)

Objectives covered by this section:

Corporate Governance (17 to 27%)

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

Economic Concepts and Analysis (17 to 27%)

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

Financial Management (11 to 21%)

• Capital structure
• Working capital
• Financial valuation methods

Information Technology (15 to 25%)

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

Operations Management (15 to 25%)

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

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.

How much Certified Public Accountant (CPA) Exam Cost

The cost of this exam differs according to the state of but roughly it costs around USD 200 per section and a total of around USD 800 for all four sections. Hover on to the official website of AICPA and choose your state for more pricing information. Other costs may also incur like buying the CPA exam dumps pdf and then practicing for the exam via the CPA practice test.

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