Transcript
CPA Exam Basics & Getting Started
CPA Exam Basics & How to Get Started Share this eBook! www.rogercpareview.com
CPA Exam Basics & Getting Started
CONTENTS
INTRODUCTION
CHAPTER 1: Four Parts of the CPA Exam
CHAPTER 2: Types of Questions on the CPA Exam
CHAPTER 3: Pass Rates and Passing Score
CHAPTER 4: Education Requirements & Application Basics
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CPA Exam Basics & Getting Started
Introduction You are close to completing your education in accounting or have recently finished. Regardless of your situation, you are ready to take the next big step toward your career and become a CPA. Hurray!
This eBook is designed to help you through the basics of the CPA Exam: What type of questions you will find, how to apply, and where to get started.
It contains all the basics you will need to get going and succeed. There are pictures, charts, and a number of links which will provide you with more information on the topics you are interested in.
As always, if you have questions, please feel free to call our friendly Customer Care team at 877-764-4272.
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CPA Exam Basics & Getting Started
What is this thing they call the CPA Exam?
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CPA Exam Basics & Getting Started
AUDITING 4 hrs FINANCIAL 4 hrs REGULATION 3 hrs BUSINESS ENVIRONMENT & CONCEPTS
3 hrs
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• Standards, Planning & Evidence, Internal
Control, Reports, Compilations & Reviews
• Business Enterprises, Governmental
Entities, Non-for-Profit Organizations
• Federal Taxation, Ethics, Professional and
Legal Responsibilities, and Business Law
• Cost Accounting, Economic Concepts,
Financial Mgmt., Information Technology
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CPA Exam Basics & Getting Started
What is on each section?
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CPA Exam Basics & Getting Started
14
hours of testing total
18
months to complete all 4 parts
From the date you sit for your first part. If 18 months goes by and you have not passed all four parts, your first part will drop off as the window rolls forward. You must pass all four in an 18 month window.
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CPA Exam Basics & Getting Started
What is the format of AUD, FAR, and REG?
Start Exam Enter the Prometric Testing Center. Register, then take your seat in a room full of computers. After logging on and accepting the terms and conditions, your time will start.
Multiple Choice Multiple Choice Multiple Choice Testlet #3 Testlet #2 Testlet #1 Once you begin your exam, you will enter M/C Testlet #1. The clock is now counting down. Once finished and all questions have been answered, move to Testlet #2
advanced a Testlet, you cannot go back to #1.
Once you move forward into a new section, you cannot go back and change your answers.
You can mark questions for review, and bounce around within each Testlet.
When Testlet #3 is complete, move onto the Task Based Simulations.
Once you’ve
Let the games begin!
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*question types explained on page 11
Task Based Simulations (6 or 7) AUD, FAR have 7 TBS. REG has 6 TBS. One question will be pretested. One TBS will be research based. Each TBS is worth 6-7 points.
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CPA Exam Basics & Getting Started
What is the format of BEC?
Start Exam Enter the Prometric Testing Center. Register, then take your seat in a room full of computers. After logging on and accepting the terms and conditions, your time will start. Let the games begin!
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Multiple Choice Teslet #1
Multiple Choice Teslet #2
Once you begin, you will enter M/C Teslet #1.
24 Questions in each teslet
You can mark questions for review, and bounce around within this teslet. Once finished and all questions have been answered, move to teslet #2
Once you’ve
advanced a teslet, you cannot go back
Written Multiple Choice Communication Teslet #3
Once you move forward into a new section, you cannot go back and change your answers. When teslet #3 is complete, move onto the Written Communication section.
3 questions total W/C tests you on your ability to explain a concept. Have a beginning, middle, and end.
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CPA Exam Basics & Getting Started
Multiple choice Tasked Based Simulations Written Communication
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CPA Exam Basics & Getting Started
•
The majority of questions you will encounter on the CPA Exam are multiple choice. The test will offer you four options and you must choose one. You want to answer all of the questions – at least by guessing – because you are not penalized for getting questions wrong.
•
FAR and AUD both have 90 MCQ questions total. REG and BEC have 72. Task Based Simulations (TBS)
•
From the AICPA: “Task -based simulations are case studies that allow candidates to demonstrate their
knowledge and skills by generating responses to questions rather than simply selecting the correct answer. Task-based simulations typically require candidates to use spreadsheets and/or research authoritative literature provided in the Exam.” •
FAR and AUD both have 7 TBS. REG has 6. BEC has zero. One of the TBS on each section is “pre -
tested,” meaning it won’t count towards your score. However, these questions are not specified, so be sure to do your best on all of them!
•
The written communication questions are designed to test your writing and ability to understand and explain a concept. You will answer in memo format with a beginning, middle, and end. Also be sure to double check your spelling and grammar as they check that in detail.
•
There are three questions on the written communication section, one of which is pre-tested.
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CPA Exam Basics & Getting Started
How are the sections weighted? BEC
AUD, FAR, REG
15% WC
40% TBS 60% MCQ 85% MCQ
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CPA Exam Basics & Getting Started
Countdown Clock
Click on a number to see what question is ahead.
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Sample Multiple Choice 13
CPA Exam Basics & Getting Started Customize your view
You may be filling out a form
Fill out the orange boxes
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Sample TBS 14
CPA Exam Basics & Getting Started
Research Question. Find your answers in the authoritative literature
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Fill in the appropriate answer
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CPA Exam Basics & Getting Started
Search by topic to find the information you are looking for in the literature
Search terms are highlighted
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Sample TBS 16
CPA Exam Basics & Getting Started
WC questions are checked for relevancy to the question asked
WC questions are to be answered in memo format
Includes a spell checker, but no grammar checker
Sample Written Communication
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CPA Exam Basics & Getting Started
What do I need to pass?!
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CPA Exam Basics & Getting Started
What does it take to pass?
75
or better
Remember what it was like getting a 75 in college? It was a C, which is average! That’s what the “C” in “CPA” stands for = average. …..Just kidding, this test is hard. Share this eBook! www.rogercpareview.com
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CPA Exam Basics & Getting Started
Only
48%
of people taking the exam pass on their
This includes everyone! • • • •
• •
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Those who took a review course Those who did not take a review course The smart kid in class The professional in his second career Recent graduates International students
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CPA Exam Basics & Getting Started
88%
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of Roger CPA Review students
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CPA Exam Basics & Getting Started
Haow mutch skooling do i nied?
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CPA Exam Basics & Getting Started
Education Requirements
In order to sit for the CPA Exam, you need to meet certain education requirements which vary state to state. Typically its 150 semester/225 quarter units total.
In many states, these units may be in business (24 sem.) and
Check my state’s education requirements
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accounting (24-36 sem.) However, you do not necessarily always need an accounting degree.
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CPA Exam Basics & Getting Started
CPA Exam Checklist A
STEP 01: Check your state’s education requirements.
A
STEP 02: Visit NASBA.org or your state Board of Accountancy website for forms and instructions on application.
A
STEP 03: Submit transcripts and application fee to designated place (based on your state). NASBA requires that you submit all higher-level transcripts which you want to count toward your required credits. For example, if you attended a Junior College before earning your Bachelor’s degree, you must submit both transcripts – even though the credits probably transferred. Why? They want to make sure that all your classes line up appropriately with the requirements.
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CPA Exam Basics & Getting Started
A
STEP 04: Receive approval to take the CPA Exam. Once your application has been approved, you will receive approval to take the CPA Exam. In many states, this approval is what is called the “Authorization to Test” or ATT.
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STEP 05: Select exam sections you would like to take and pay required fees to NASBA. Total fees range from $650 – $950. Note: Only apply for the sections you would like to take in your Notice To Schedule window (6, 9, 12 months depending on your state). Why? If you pay for all 4 parts, but only take 3, you lose the fee for the last part and must pay for it again! Err on the side of caution and only pay for the parts you know you will take.
Average National Fee Breakdown:
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Section
AUD
FAR
REG
BEC
TOTAL
Fee
$190.35
$190.35
$171.25
$171.25
$723.20
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CPA Exam Basics & Getting Started
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STEP 06: Receive Notice To Schedule (NTS)
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STEP 07: Schedule your Exam at www.Prometric.com. If you have a preferred location, be flexible on the date you sit. If you have a preferred date, be flexible on the location. Testing slots fill up fast near the end of each testing window, so be sure to schedule in advance.
A
STEP 08: Take your Exam at a Prometric Testing Center.
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CPA Exam Basics & Getting Started
The Roger Method™ At Roger CPA Review, our mission goes beyond seeing our students pass the CPA Exam —that’s a given. As CPA Exam experts, we guide our students every step of the way, enabling a preparation process that is Efficient, Effective and—dare we say—Enjoyable.
. We cut out the fat to focus students only on the information needed to pass the CPA Exam and move on with their lives. Our intuitive e-learning system integrates side-by-side lectures with e-textbooks and Study Management Tools to help students set a plan, track their progress, and assess their strengths and weaknesses for a clear path to success.
Plain and simple, we
teach
our students. Our lectures and textbooks are broken down into bite-sized, highly motivating
lessons that keep students focused. We simplify difficult concepts, and help our students retain this information with helpful memory aids and mnemonics.
. Not all CPA Review courses are created equal. While we all start with the same questions and topic outlines from the AICPA, it is the delivery of the information that sets Roger CPA Review apart. Our students remain engaged, frequently laugh out loud, and often come away singing a song or two —and in turn, they learn more! It’s no wonder we receive so many testimonials from happy students who legitimately
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miss
their course after passing the exam.
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CPA Exam Basics & Getting Started
“
If you study, you will pass! -Roger Philipp, CPA
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