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Difficulty in Writing Certified Public Accountant (CPA) Exam

In the accounting industry, any aspiring accountant who wants to sit for the CPA Exam must have significant post-secondary education. For most test managers, a bachelor's degree from an accredited institution used to be enough.

However, today's developments in accounting technology and new compliance laws mean that in addition to 30 hours of graduate education, the AICPA has changed the educational requirement to include 120 semester hours in a bachelor's degree accounting program. In most US nations, these standards are implemented. As a result, a master's degree in the field or a similar industry is required for most aspiring accountants wanting to take this exam.

One of the key problems faced by most candidates is to choose the right research materials for their exam preparation since they use the internet to find too much data that makes it difficult for them to trust, which would be helpful for them. CPA practice exam dumps are designed in such a way to make better preparatory material. Certified Public Accountant (CPA) Exam is not an easier one and can turn out to be a very difficult certification if not well prepared. We always recommend studying these exam dumps and then take the CPA practice exams before actually appearing for the exam. Applicants may, however, clear the exam with the right concentration and the right preparation material. ExamBoosts have the most up-to-date CPA exam dumps, having a fair understanding of the question trend being asked in real certification with the help of these questions. ExamBoosts also include practice testing, which proves to be an outstanding forum for testing the information gained. Refer to the links down below to access the study materials.

Topics of Certified Public Accountant (CPA) Exam

The CPA Exam test consists of four, four-hour sections. You must clear all four sections within 18 months with a minimum score of 75 on each part. The core topics for each of the four sections are listed below. These contents are likely to be used for the examination. However, on any particular delivery of the test, other similar topics could also appear.

It is recommended that, where possible, the applicant uses these contents and/or other resources to provide background information on the exam objectives. The syllabus for the Certified Public Accountant (CPA) Exam is listed below with detail of each section and their topics:

1. Auditing and Attestation (AUD)

Objectives covered by this section:

Developing a Planned Response & Assessing Risk (20 to 30%)

• Entity's internal control
• Specific areas of engagement risk
• Debtor-creditor relationships
• Materiality
• Assessing and identifying the risk of material misstatement
• Planning an engagement

Professional Responsibilities, Ethics & General Principles (15 to 25%)

• Ethics and professional conduct
• A firm's system of quality control
• Nature and scope
• Communication with management
• Engagement documentation
• Communication with component auditors

Obtaining Evidence & Performing Further Procedures (30 to 40%)

• Internal control deficiencies and misstatements
• Sampling techniques
• Subsequent events
• Written representation
• Acquisition and disposition of assets
• Performing specific procedures to get evidence

Reporting and Forming Conclusions (15 to 25%)

• Reporting on compliance
• Review service engagements
• Reports on auditing engagements
• Other reporting considerations
• Reports on attestation engagements

2. Regulation (REG)

Objectives covered by this section:

Federal Tax Procedures, Professional Responsibilities, and Ethics (10 to 20%)

• Responsibilities in tax practice
• Federal tax procedures
• Legal duties
• Licensing and disciplinary systems

Business Law (10 to 20%)

• Business structure
• Agency
• Debtor-creditor relationships
• Contracts
• Government regulation of business

Federal Taxation of Property Transactions (12 to 22%)

• Determination of taxable estate
• Cost recovery
• Gift tax annual exclusion
• Estate and gift taxation
• Gift tax deductions
• Acquisition and disposition of assets

Federal Taxation of Individuals (15 to 25%)

• Passive activity losses
• Alternative Minimum Tax
• Gross income
• Computation of tax and credits
• Computation of tax and credits
• Reporting items from pass-through entities
• Filing status

Federal Taxation of Entities (28 to 38%)

• C corporations
• Tax-exempt organizations
• Partnerships
• Liquidation of business entities & tax treatment of formation
• S corporations
• Trusts and estates
• Limited liability companies

3. Financial Accounting and Reporting (FAR)

Objectives covered by this section:

Standard-Setting, Conceptual Framework, and Financial Reporting (25 to 35%)

• Standard setting for non-business entities
• Standard setting and conceptual framework for nonbusiness entities
• Special purpose framework
• General-purpose financial statements
• Public company reporting topics
• Conceptual framework

Select Financial Statement Accounts (30 to 40%)

• Income taxes
• Inventory
• Property, plant, and equipment
• Long-term debt
• Compensation benefits
• Intangible assets
• Investments
• Cash and cash equivalents

Select Transactions (20 to 30%)

• Contingencies and commitments
• Accounting changes and error corrections
• Leases
• Fair value measurements
• Software costs
• Nonreciprocal transfers
• Business combinations
• Differences between IFRS and U.S. GAAP
• Subsequent events
• Derivatives and hedge accounting
• Foreign currency transaction and translation
• Research and development costs

State and Local Governments (5 to 15%)

• State and local government concepts
• Government-wide financial statements
• Comprehensive Annual Financial Report (CAFR)
• Specific types of transactions and events: calculation, measurement, presentation in a governmental entity, and valuation

4. Business Environment and Concepts (BEC)

Objectives covered by this section:

Corporate Governance (17 to 27%)

• Regulatory frameworks and provisions
• Internal control frameworks
• ERM (Enterprise Risk Management) frameworks

Economic Concepts and Analysis (17 to 27%)

• Economic business cycles
• Market influences on business
• Financial risk management

Financial Management (11 to 21%)

• Financial valuation methods
• Capital structure
• Working capital

Information Technology (15 to 25%)

• Role of information technology business
• IT governance
• Information security/availability
• Processing integrity
• Systems development of maintenance

Operations Management (15 to 25%)

• Planning techniques
• Cost accounting
• Performance management
• Process management

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Certified Public Accountant (CPA) Exam Certification Path

The certification path for the Certified Public Accountant (CPA) Exam consists of this Uniform CPA Examination with 4 sections that can be taken separately as in one section per test window or all sections at once. After clearing these 4 sections, an ethics exam must also be cleared before your license could be processed.

As the saying goes, practice makes perfect. We are now engaged in the pursuit of Craftsman spirit in all walks of life. Professional and mature talents are needed in each field, similarly, only high-quality and high-precision Audit & Insurance qualification question can enable learners to be confident to take the qualification examination so that they can get the certificate successfully, and our AA learning materials are such high-quality learning materials, it can meet the user to learn the most popular test site knowledge. Because our experts have extracted the frequent annual test centers are summarized to provide users with reference. Only excellent learning materials such as our AA study tool can meet the needs of the majority of candidates, and now you should make the most decision is to choose our products.

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