The CPA Exam consists of four sections
- Auditing and Attestation (AUD)
- Business Environment and Concepts (BEC)
- Financial Accounting and Reporting (FAR)
- Regulation (REG)
You can sit for the sections in any sequence you choose. However once you pass your first section, you have 18 months to pass the additional three sections.
The CPA Exam is offered in quarterly 2-month testing windows. They are January-February, April-May, July-August, and October-November. You can sit for as many or as few sections as you choose in each testing window.
The latest AICPA-released pass rates for the CPA Exam are roughly 45% - 48%.
Steps to Becoming a CPA
Step 1: Decide Where You Want to Be Licensed
A summary of the specific requirements for becoming a CPA in each of the 54 United States jurisdictions can be found
here.
Step 2: Review the CPA Candidate Bulletin
The CPA Candidate Bulletin provides detailed information every candidate should read prior to applying for the CPA Exam.
Step 3: Apply to Take the Exam
Contact your board of accountancy or its dedicated agent to receive an application form. Complete the application form and submit it along with your
examination fees to the appropriate address. The application process may take as long as 4-8 weeks.
Step 4: Take a CPA Review Course
You should plan to spend 250-400 hours in total preparation for the CPA Exam. Put in the time and effort to prepare yourself completely so you can sit
for each section with the knowledge, skills, and confidence you need to pass.
Choose from our Live or Self-Study Online Review Courses.
Step 5: Receive Your Notice to Schedule (NTS)
Verify that all information is correct. Be sure the name appearing on the NTS exactly matches the name on the identification documents you will be
bringing to the testing center.
Step 6: Schedule Your Exam
Schedule your examination appointment immediately after you receive your NTS. It is recommended that you schedule at least 45 days before the desired
test date.
Step 7: Take Your Exam
Proper nutrition and rest leading up to exam day are crucial for maximum recall of reviewed topics.
Step 8: Receive Your Scores
A passing score is 75, and scores may be released as early as 30 to 90 days after taking your exam.
Auditing and Attestation (AUD)
Tests your knowledge and skills relating to auditing procedures and standards, standards related to attest engagements, and the skills needed to apply that knowledge.
Auditing and Attestation covers the following five topics:
- Plan the engagement
- Internal controls
- Obtain and document information
- Review engagement and evaluate information
- Prepare communications
Three testlets and two simulations comprise the AUD exam, with multiple-choice testlets accounting for 70% and simulations accounting for 30% of the score. The 30% simulation portion is further divided into 10% for written communication and 20% for all other parts of the simulation.
Kaplan Schweser's Online Review Course is designed to develop your confidence and abilities, and fully prepare you for success on the AUD section of the CPA Exam.
Resources
Financial Accounting and Reporting (FAR)
Tests your knowledge and skills relating to generally accepted accounting principles for business enterprises, not-for-profit organizations, and government entities.
Financial Accounting and Reporting covers the following five topics:
- Concepts and standards for financial statements
- Typical items in financial statements
- Specific types of transactions and events
- Accounting and reporting for governmental entities
- Accounting and reporting for non-governmental and not-for-profit organizations
Three testlets and two simulations comprise the FAR exam, with multiple-choice testlets accounting for 70% and simulations 30% of the score. The 30% simulation portion is further divided into 10% for written communication and 20% for all other parts of the simulation.
Kaplan Schweser's Online Review Course is designed to develop your confidence and abilities, and fully prepare you for success on the FAR section of the CPA Exam.
Resources
Regulation (REG)
Tests your knowledge and skills relating to federal taxation, ethics, professional and legal responsibilities, and business law.
Regulation covers the following six topics:
- Ethics and professional responsibility
- Business law
- Federal tax procedures and accounting issues
- Federal taxation of property transactions
- Federal taxation of individuals
- Federal taxation of entities
Three testlets and two simulations comprise the REG exam, with multiple-choice testlets accounting for 70% and simulations accounting for 30% of the score. The 30% simulation portion is further divided into 10% for written communication and 20% for all other parts of the simulation.
Kaplan Schweser's Online Review Course is designed to develop your confidence and abilities, and fully prepare you for success on the REG section of the CPA Exam.
Resources
Business Environment and Concepts (BEC)
Tests your knowledge and skills relating to the general business environment and the business concepts required to understand the reasons for, and accounting implications of, business transactions.
Business Environment and Concepts covers the following five topics:
- Business structure
- Economic concepts
- Financial management
- Information technology
- Planning and measurement
BEC consists of three multiple-choice testlets only, with those questions accounting for 100% of the score.
Kaplan Schweser's Online Review Course is designed to develop your confidence and abilities, and fully prepare you for success on the BEC section of the CPA Exam.
Resources
United States
