4.
Highest professional designation in accounting and the
utmost standard of competency
Must take and pass The Certified Public Accountant
Uniform Exam administered by the AICPA
All CPAs are accountants, but not all accountants are CPAs
Some states require that only CPA’s perform certain
accounting tasks such as auditing.
The Credential - CPA
5.
3 E’s required to become a CPA
Education
Exam
Experience
4th E (Ethics only required by some states)
Differs from state to state.
Laws and rules are determined by the State Board
of Accountancy
Requirements
7. Computer based
Consists of 4 sections
Auditing and Attestation (AUD)
Business Environment and Concepts (BEC)
Financial Accounting and Reporting (FAR)
Regulation (REG)
Same test no matter where it is taken in any give year
Question types include multiple choice, simulation and
written communication
Exam
8.
There is no specific order in which a
candidate can take the test
A candidate has 18 months from the
time they pass their first section to pass
the other three sections.
Passing score is 75 on a 0-99 scale
Exam
9.
Multiple-Choice Task-Based Written
Auditing and
Attestation (AUD)
60% 40% -
Business Environment
and Concepts (BEC)
85% - 15%
Financial Accounting
and Reporting (FAR)
60% 40% -
Regulation (REG) 60% 40% -
Exam Breakdown
10.
Many states require the candidate to
have 1 – 2 years experience under a
CPA after successfully passing exam
To gain additional experience before
actually receiving your CPA license.
Experience
11.
It takes about 3 to 4 weeks to get your CPA license after
meeting all requirements
Apply through candidate’s State Board of Accountancy
Initial application fee varies from state to state
Ranges from $100 to $200
At least 40 hours of Continuing Professional education
each year to maintain the CPA certification.
Getting Your License
14.
AICPA’s official website (Free)
This Way To The CPA (Free)
Becker’s CPA exam review
Kelley’s CPA exam prep
Wiley’s CPAexcel
Resources
15.
The prestige and respect that comes with being a
CPA
is a good way to stand out in to potential employers
Becoming a CPA while employed puts you in line
for management and leadership position
CPA’s earn 10% more on average than non CPA
accountants.
Why go through all this
trouble
17. Effective April 1, 2017
Proposed CPA Exam will get longer, increasing from 14 to 16 hours to
complete
Will be slightly more expensive
Focus on higher-order cognitive skills, including critical thinking,
problem solving and analytical ability.
Multiple Choice Questions decreasing by 12-20 questions per section
More Task-Based Simulations
Scoring : Approximately 50% MCQ and 50% SBT/WC
2017 Exam Changes
