2013

2013

The CPA Exam

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

Education | Exam | Experience

Every state is unique

The Three E’s

State Requirements

Becker.com/stateState Board of AccountancyThisWaytoCPA.com NASBA.org (National Association of State Boards of Accountancy)

CPA Exam Process

Qualify• Review state

requirements

Apply• Submit your

application to sit for the CPA Exam

Prepare• Enroll in

Becker• Receive your

Notice-to-Schedule (NTS)

Schedule• Schedule

exam with Prometric

Succeed• Study and sit

for the CPA Exam

5 Key Steps

JAN

OPENFEB

OPENMAR

CLOSED

APR

OPENMAY

OPENJUN

CLOSED

JUL

OPENAUG

OPENSEP

CLOSED

OCT

OPENNOV

OPENDEC

CLOSED

2nd Qtr Window

1st Qtr Window

3rd Qtr Window

4th Qtr Window

• 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.

Begin Application Process

The On Demand Exam

Structure and Content

About the CPA Exam

Exam Overview4 Independent Sections

Financial Accounting and Reporting (FAR)4 hours

Regulation (REG)3 hours

Auditing and Attestation (AUD)4 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%

40%

• 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

• Passing Grade 75

Financial - ContentConcepts & Standards (including

IFRS)17% - 23%

Financial Statement Accounts27% - 33%

Specific Transactions

27% - 33%

Government Accounting

8% - 12%

Not-for-Profit Accounting8% - 12%

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 - Structure

60%

40%


• One testlet containing seven short, task-based simulations TBS



Audit - Content

Professional Re-sponsibilities

16% - 20%Engagement Accep-tance & Understand-ing the Assignment

12% - 16%Understanding the

Entity & Environment16% - 20%

Performing Audit Procedures & Eval-

uating Evidence16% - 20%

Evaluating Findings, Communication &

Reporting16% - 20%

Accounting & Review Engagements

12% - 16%

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 StandardsDemonstrate 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%

40%


• One testlet containing six short, task-based simulations (TBS)



Regulation - Content

Federal Taxation of Entities

18% - 24%Ethics, Professional & Legal Responsi-

bilities15% - 19%

Business Law17% - 21%

Federal Tax Proce-dures & Accounting

Issues11% - 15%

Federal Taxation of Property Transac-

tions12% - 16%

Federal Taxation of Individuals13% - 19%

Business

Business - Structure

85%

15%


• Three written communication tasks

• 12 MCQs and 1 written communication task are pretest questions


Business - Content

Corporate Gov-ernance

16% - 20%

Economic Con-cepts & Analysis

16% – 20%

Financial Management19% - 23%

Information Sys-tems & Commu-

nication15% - 19%

Strategic Planning10% - 14%

Operations Management

12% - 16%

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)

Becker’s CPA Exam Review

Becker CPA Exam Review• The leader in CPA review for more than 50 years

• Over 400,000 candidates have passed the CPA exam using Becker, more than any other review provider

• Double the pass rate of non-Becker candidates*

• Partnerships with the Big 4 and 99 of the top 100 accounting firms

• 31 out of the 37 most recent Elijah Watt Sells Award winners prepared with Becker’s CPA Exam Review.

• Since 2005, almost 90% of all Watt Sells winners have prepared with Becker.

*Becker Professional Education students pass at double the rate of all CPA exam candidates who did not take a Becker course, based on averages of AICPA-published pass rates. Data verified by an independent third-party firm.

Flexible Course Formats

Over 250worldwide locations

Dedicated online

instructors

Anytimeanywhere

A Complete CPA Review Focused on Your Success• Study anywhere, anywhere using any device• Expert Instruction and Unlimited Academic Support• Comprehensive Textbooks and eBooks • Interactive Study Planner and Writing Tutorials• Becker Software with resources that replicate the

content and functionality of the CPA Exam Multiple Choice Homework Simulations Final Exams

Study Road Map

• Provides guidance on what to study and how much time to devote to each topic.

• Fully integrates all course elements.

Multiple Choice Questions

• Over 6,500 questions.

• Link to lecture and link to text features provide clarification on challenging topics.

• Complete answer explanations.

• Timer allows you to stay on pace.

Simulations

• Over 250 task-based simulations.

• Functionality mirrors the CPA Exam.

• Timer allows you to stay on pace.

Review Before Exam

• Provides direction on how to prepare in your final days leading up to the exam.

• Includes two full final exams per part that mirror the CPA Exam.

Study Planner

• Creates a customized preparation plan that fits your needs.

• Drag and drop functionality allows you to easily address schedule changes.

• Export capability to MS Outlook.

Accept No Substitutions – Buy Only Authentic Becker Material• 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 ToolsFlashcards• Over 1,000 cards in a portable format for learning anywhere,

anytime• Available in traditional or mobile formats: iPhone®, iPod Touch®,

iPad® and Android

Final Review• Complements your CPA Exam Review course.• Shows you which areas to focus on during your last critical

days of study.• Available in live or self-study formats

0% Financing

• 18 month interest-free loan

• Available on our four-part CPA Exam Review, Final Review and Flashcards

• All applicants are pre-approved

• $125 processing fee applies

For full details and to get started: becker.com/financing

The Becker Promise• If you study with Becker but do not

pass the CPA Exam, you may repeat our course at no additional tuition cost if you satisfy our requirements.

• Learn more at becker.com/promise

“” Christopher Michael Leon

Watt Sells winner and Becker alum

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.

Contact Information

www.becker.com1-877-CPA EXAM

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2013

Documents

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auditing isas differences

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professional accountants

financial reporting

questionsone testlet

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