CPA Exam (Certified Public Accountant)

The Uniform CPA Examination® (CPA Exam) is the standardized test administered by the American Institute of Certified Public Accountants (AICPA) to assess the competency of individuals wishing to become certified public accountants (CPAs) in the United States.

Syllabus:

The CPA Exam is divided into four sections:
⚫ Auditing and Attestation (AUD): Covers concepts and procedures related to auditing, attestation engagements, and professional ethics. (22%-27% weightage)
⚫ Financial Accounting and Reporting (FAR): Covers US GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards), financial statement preparation, and reporting. (32%-36% weightage)
⚫ Regulation (REG): Covers federal tax process, procedures, and regulations, individual and entity taxation, and business law. (20%-24% weightage)
⚫ Business Environment and Concepts (BEC): Covers business strategy, economics, information systems and controls, and corporate governance. (15%-19% weightage)
⚫ Each section of the exam is a four-hour computer-based test administered year-round at Prometric testing centers.

Exam Pattern-

Each section of the CPA Exam uses multiple question formats, including:
⚫ Multiple-choice questions (MCQs): These questions test your recall and understanding of accounting, auditing, tax, and business concepts.
⚫ Task-based simulations (TBS): These simulations present you with realistic scenarios and tasks that you must complete using your accounting, auditing, or tax skills.
⚫ Written communication (WC): These questions require you to analyze a situation and communicate your findings and recommendations in writing.
⚫ The specific weighting of each question format varies by section. For example, the BEC section has a higher weight on WC questions than the other sections.

Passing Score-
⚫ The passing score for each section of the CPA Exam is 75 on a scale of 0 to 100. You must pass all four sections within an 18-month testing window to become a CPA.

Additional Resources-
⚫ AICPA CPA Exam website: https://www.aicpa.org/