CPA Certified Public Accountant AA

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

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%)

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

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

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

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

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

Reporting and Forming Conclusions (15 to 25%)

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

2. Regulation (REG)

Objectives covered by this section:

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

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

Business Law (10 to 20%)

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

Federal Taxation of Property Transactions (12 to 22%)

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

Federal Taxation of Individuals (15 to 25%)

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

Federal Taxation of Entities (28 to 38%)

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

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

Select Financial Statement Accounts (30 to 40%)

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

Select Transactions (20 to 30%)

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

State and Local Governments (5 to 15%)

• Government-wide financial statements
• 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

4. Business Environment and Concepts (BEC)

Objectives covered by this section:

Corporate Governance (17 to 27%)

• Internal control frameworks
• Regulatory frameworks and provisions
• 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
• Financial valuation methods
• Working capital

Information Technology (15 to 25%)

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

Operations Management (15 to 25%)

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

The benefit of obtaining the Certified Public Accountant (CPA) Exam Certification

Many accountants joining the profession are curious about the advantages of being a certified public accountant (CPA) so that they can determine if the time and energy to undertake this achievement are worth devoting. The certification process may undoubtedly be rigorous and difficult, but for those employed in industry or finance, success offers some notable advantages. In the US, several states have their board that regulates the certification in their jurisdiction of public accountants.

The qualification process helps both new and seasoned accountants to test their qualifications, develop their abilities, and enhance their understanding of the overall discipline. Via their local state board, prospective applicants can learn more about the licensing process specifics and visit the NASBA website for information about the standardized CPA test. The growing demand for CPAs across the job market is motivated by many factors, so the trend is likely to continue in the near future. Accountants winning their CPA earn 10 percent more on average than non-CPA colleagues and have more chances to grow their careers. In job searching, being a CPA can also be a big boon as it shows professional dedication and makes the candidate stand out from others. Among several other specialist fields, CPA certification demonstrates qualification for auditing, business strategy, bookkeeping, and forensic accounting. Becoming accredited opens the doors to hundreds of various career paths and is essential for foreign positions in particular.

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