CPA EXAM

Exam:

Certified Public Accountant Exam

Industry:

Accounting

Country:

USA

Website:

https://www.aicpa-cima.com/resources/toolkit/cpa-exam

CPA Exam Overview

The Uniform CPA Examination, developed and scored by the American Institute of CPAs (AICPA), is a key step toward becoming a licensed Certified Public Accountant (CPA) in the United States. The exam assesses the knowledge and skills entry-level CPAs need to practice public accountancy.

Exam Sections

The CPA Exam consists of four sections:

Auditing and Attestation (AUD)
Business Environment and Concepts (BEC)
Financial Accounting and Reporting (FAR)
Regulation (REG)

Each section is a 4-hour test with multiple-choice questions and task-based simulations. The BEC section also includes written communication tasks.

Exam Schedule and Scoring

The CPA Exam is offered year-round, with testing windows in the first two months of each quarter:

January-February
April-May
July-August
October-November

Scores for each section range from 0 to 99. A minimum score of 75 is required to pass each section.

Eligibility Requirements

To be eligible to take the CPA Exam, candidates must meet the following requirements:

Obtain a bachelor’s degree or higher from an accredited college or university
Complete a minimum of 150 semester hours of college education, including specific accounting and business courses
Meet the specific requirements of the state board of accountancy in the jurisdiction where they plan to be licensed

Exam Preparation Resources

The AICPA provides various resources to help candidates prepare for the CPA Exam, including:

CPA Exam Blueprints
Sample Tests
Tutorial and Sample Tests
Exam Scoring Information

Candidates can also find study materials and review courses from third-party providers to supplement their exam preparation.

Who Should Take the CPA Exam?

The CPA Exam is suitable for individuals who aspire to become licensed Certified Public Accountants in the United States. It is designed for entry-level CPAs who want to demonstrate their knowledge and skills in public accountancy. Candidates typically include:

Recent college graduates with a degree in accounting or a related field
Accounting professionals looking to advance their careers
Individuals seeking to switch careers and enter the accounting profession

Related Certifications and Credentials

While the CPA is a highly respected and widely recognized certification in the accounting field, there are other related certifications and credentials that professionals may consider, depending on their career goals and specializations:

Certified Management Accountant (CMA): Focuses on management accounting, financial planning, and decision-making skills
Chartered Financial Analyst (CFA): Geared towards investment and financial analysis professionals
Certified Internal Auditor (CIA): Designed for internal auditors and emphasizes internal audit processes, risk management, and governance
Certified Fraud Examiner (CFE): Concentrates on fraud prevention, detection, and investigation techniques

Exam Day Preparation

To ensure a smooth and successful exam experience, candidates should:

Arrive at the testing center at least 30 minutes before the scheduled appointment time
Bring a valid, government-issued photo ID (such as a driver's license or passport)
Familiarize themselves with the exam rules and regulations, including the items permitted in the testing room
Ensure they have completed the necessary application and registration processes with their state board of accountancy and the AICPA

Maintaining CPA Licensure

After passing the CPA Exam and meeting the licensing requirements of their state board of accountancy, CPAs must maintain their license by:

Completing the required number of continuing professional education (CPE) hours annually or biennially, as specified by their state board
Renewing their license periodically, typically every 1-3 years, depending on the state
Adhering to the ethical standards and professional conduct guidelines set by their state board and the AICPA

More Info:

https://www.aicpa-cima.com/resources/toolkit/cpa-exam