PRESENTATION TITLE - Attorney Paul M. Kasprowicz

Report
The CPA Exam
2013
Attorney Paul M. Kasprowicz, CPA
Becker Professional
Education
A global leader in professional
education serving accounting,
finance, project management and
healthcare professionals from career
start to finish.
Obtaining your CPA License
The Three E’s
Education | Exam | Experience
Every state is unique
State Requirements
Becker.com/state
State Board of Accountancy
ThisWaytoCPA.com
NASBA.org (National Association of State Boards of Accountancy)
CPA Exam Process
5 Key Steps
Succeed
Schedule
Prepare
Apply
Qualify
• Review state
requirements
• Submit your
application to
sit for the CPA
Exam
• Enroll in
Becker
• Receive your
Notice-toSchedule
(NTS)
• Schedule
exam with
Prometric
• Study and sit
for the CPA
Exam
Begin Application Process
The On Demand Exam
1st
Qtr
Window
2nd
Qtr
Window
3rd Qtr
Window
4th Qtr
Window
JAN
FEB
MAR
OPEN
OPEN
CLOSED
APR
MAY
JUN
OPEN
OPEN
CLOSED
JUL
AUG
SEP
OPEN
OPEN
CLOSED
OCT
NOV
DEC
OPEN
OPEN
CLOSED
• Sit for exams as soon
as eligible.
• Must pass all 4 parts
within an 18-month
window.
• Firms want new hires
to pass early in their
careers.
About the CPA Exam
Structure and Content
Exam Overview
4 Independent Sections
Financial Accounting and Reporting (FAR)
4 hours
Auditing and Attestation (AUD)
4 hours
Regulation (REG)
3 hours
Business Environment and Concepts (BEC)
3 hours
Exam can be taken in any state or jurisdiction
Exam is administered at Prometric Testing Centers
Financial
Financial - Structure
60%
• Three multiple-choice question
(MCQ) testlets containing 90
questions
• One testlet containing seven short,
task-based simulations (TBS)
• 15 MCQs and 1 TBS are pretest
questions
40%
• Passing Grade 75
Financial - Content
Not-for-Profit
Accounting
8% - 12%
Government
Accounting
8% - 12%
Specific
Transactions
27% - 33%
Concepts &
Standards
(including IFRS)
17% - 23%
Financial
Statement
Accounts
27% - 33%
Financial - IFRS
Demonstrate knowledge and awareness of the following:
• Differences between financial statements prepared under U.S.
GAAP and under IFRS
• First-time adoption of IFRS related to financial reporting,
presentation and disclosures in general-purpose financial
statements
Audit
Audit - Structure
60%
• Three multiple-choice question
(MCQ) testlets containing 90
questions
• One testlet containing seven short,
task-based simulations TBS
• 15 MCQs and 1 TBS are pretest
questions
40%
• Passing Grade 75
Audit - Content
Accounting &
Review
Engagements
12% - 16%
Evaluating
Findings,
Communication &
Reporting
16% - 20%
Professional
Responsibilities
16% - 20%
Engagement
Acceptance &
Understanding
the Assignment
12% - 16%
Performing Audit
Understanding
Procedures &
the Entity &
Evaluating
Environment
Evidence
16% - 20%
16% - 20%
New Statement on Auditing Standards
• AICPA’s Clarified Statements on Auditing Standards (SAS) are
testable on the CPA Exam beginning July 1, 2013
– The standards were re-drafted to make them easier to read,
understand and apply and to converge with international
standards
• CPA candidates should plan to take the Audit exam in the first two
testing windows of 2013 (Jan-Feb or Apr-May) before the Clarified
SAS become testable
• Becker’s 2013 Audit course has been fully updated to reflect these
new standards
Audit – U.S. vs International Auditing
Standards
Demonstrate knowledge and awareness of the following:
• International Auditing & Assurance Board (IAASB) - role in establishing
International Standards on Auditing (ISAs)
• Differences between ISAs and US Auditing Standards
• International Ethics Standards Board for Accountants (IESBA) Role in
establishing International Federation of Accountants (IFAC) Code of Ethics for
Professional Accountants.
• Related independence requirements when auditing a U.S. company that
supports an audit report based on auditing standards of another country, or
ISAs
Regulation
Regulation - Structure
60%
• Three multiple-choice question
(MCQ) testlets containing 72
questions
• One testlet containing six short, taskbased simulations (TBS)
• 12 MCQs and 1 TBS are pretest
questions
40%
• Passing Grade 75
Regulation - Content
Federal Taxation
of Individuals
13% - 19%
Federal Taxation
of Property
Transactions
12% - 16%
Federal Tax
Procedures &
Accounting
Issues
11% - 15%
Federal Taxation
of Entities
18% - 24%
Ethics,
Professional &
Legal
Responsibilities
15% - 19%
Business Law
17% - 21%
Business
Business - Structure
85%
• Three multiple-choice question
(MCQ) testlets containing 72
questions
• Three written communication
tasks
15%
• 12 MCQs and 1 written
communication task are pretest
questions
• Passing Grade 75
Business - Content
Operations
Management
12% - 16%
Corporate
Governance
16% - 20%
Strategic Planning
10% - 14%
Information
Systems &
Communication
15% - 19%
Economic
Concepts &
Analysis
16% – 20%
Financial
Management
19% - 23%
Business - IFRS and ISA
• Demonstrate an understanding of globalization in the business
environment
• Explain the underlying economic substance of transactions and
their accounting implications
Exam Structure
Multiple Choice
Simulations
Research Tasks
• Research task format based on the FASB Codification™.
Written Communication (BEC Only)
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 Multiple Choice Homework
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Study Road Map
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Multiple Choice Questions
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Over 6,500 questions.
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Link to lecture and link
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Timer allows you to stay
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Don’t fall victim to fraud by purchasing pirated Becker course materials through
– Unauthorized dealers posing as authorized resellers
– Sellers on Craig’s List and auction sites such as eBay
– Other students
•
How piracy can affect you
– Becker does not support pirated product with academic support, customer
service, technical support or extension of the Becker promise
– Counterfeit software may contain malicious code or viruses putting you at
risk for identity theft and credit card fraud
•
Protect yourself by ordering only authentic Becker course materials
– Becker.com
– 1-877-CPA-Exam
– International partners listed on Becker.com
Additional Study Tools
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The Becker Promise
• If you study with Becker but do not
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• Learn more at becker.com/promise
“”
I credit a lot of my success on the exam to Becker.
My best advice to other candidates:
Don't skimp on the exam review.
The time & money you invest now
will pay off for a lifetime and Becker is one
of the best investments you can make.
Christopher Michael Leon
Watt Sells winner and Becker alum
Contact Information
www.becker.com
1-877-CPA EXAM
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