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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

Difficulty in Writing Certified Public Accountant (CPA) Exam

In the accounting industry, any aspiring accountant who wants to sit for the CPA Exam must have significant post-secondary education. For most test managers, a bachelor's degree from an accredited institution used to be enough.

However, today's developments in accounting technology and new compliance laws mean that in addition to 30 hours of graduate education, the AICPA has changed the educational requirement to include 120 semester hours in a bachelor's degree accounting program. In most US nations, these standards are implemented. As a result, a master's degree in the field or a similar industry is required for most aspiring accountants wanting to take this exam.

One of the key problems faced by most candidates is to choose the right research materials for their exam preparation since they use the internet to find too much data that makes it difficult for them to trust, which would be helpful for them. CPA practice exam dumps are designed in such a way to make better preparatory material. Certified Public Accountant (CPA) Exam is not an easier one and can turn out to be a very difficult certification if not well prepared. We always recommend studying these exam dumps and then take the CPA practice exams before actually appearing for the exam. Applicants may, however, clear the exam with the right concentration and the right preparation material. Pass4training have the most up-to-date CPA exam dumps, having a fair understanding of the question trend being asked in real certification with the help of these questions. Pass4training also include practice testing, which proves to be an outstanding forum for testing the information gained. Refer to the links down below to access the study materials.

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%)

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

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

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

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

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

Reporting and Forming Conclusions (15 to 25%)

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

2. Regulation (REG)

Objectives covered by this section:

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

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

Business Law (10 to 20%)

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

Federal Taxation of Property Transactions (12 to 22%)

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

Federal Taxation of Individuals (15 to 25%)

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

Federal Taxation of Entities (28 to 38%)

• Partnerships
• Liquidation of business entities & tax treatment of formation
• S corporations
• C corporations
• Trusts and estates
• Tax-exempt organizations
• 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 and conceptual framework for nonbusiness entities
• Public company reporting topics
• Standard setting for non-business entities
• Conceptual framework
• Special purpose framework
• General-purpose financial statements

Select Financial Statement Accounts (30 to 40%)

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

Select Transactions (20 to 30%)

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

State and Local Governments (5 to 15%)

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

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
• Economic business cycles
• Market influences on business

Financial Management (11 to 21%)

• Capital structure
• Working capital
• Financial valuation methods

Information Technology (15 to 25%)

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

Operations Management (15 to 25%)

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

How to book the Certified Public Accountant (CPA) Exam

Follow the steps mentioned below to book the Certified Public Accountant (CPA) Exam:

• Step 1: Determine your eligibility from the NASBA website by clicking here
• Step 2: Select a jurisdiction where you want to become a licensed CPA
• Step 3: Access the application by clicking here
• Step 4: Complete the application, prepare from the CPA exam dumps and submit all required documents
• Step 5: Schedule your exam by following this link

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CPA AA Exam Syllabus Topics: