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Expert Strategies for Handling the 2017 CPA Exam Changes Webinar for CPA Exam Candidates Presented by Denise Probert, CPA, CGMA Director of Curriculum – Accounting Exam Prep
Wiley Efficient Learning 1
Why the change?
• CPAs serve and protect the public interest • The CPA Exam must test the knowledge and skills
required of newly licensed CPAs • AICPA Uniform CPA Exam practice analysis is conducted
periodically (at a minimum every seven years) to ensure the Exam is still relevant, both in content and the skills being tested
Wiley Efficient Learning Roadmap 3
Why the change? (Continued)
2004: Paper & pencil exam
converted to a computerized exam
2011: Computer-‐based tesBng
evoluBon (CBT-‐e)
2014: PracBce analysis began for the 2017 CPA Exam
Wiley Efficient Learning Roadmap 4
What is the change?
2014 practice analysis findings • Entry level CPAs should possess
– Effective communication skills – Critical thinking skills, ability to problem solve,
analytical skills and professional skepticism – Well-developed research skills – Strong understanding of business environment and
processes – Ethics and professional responsibilities
Wiley Efficient Learning Roadmap 6
What is the change? (Continued)
• Major proposed Exam changes: – Focus on and enhance the testing of higher-order
cognitive skills – Reallocate skills and content – Increased number of task-based simulations, (to
focus on higher-order skills) – Increase in total testing time – Replace content specifications outlines (CSOs) with
blueprints (enhanced depth and breadth of exam content coverage)
Wiley Efficient Learning Roadmap 7
What is the change? (Continued)
• AICPA Skill Levels Framework
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EvaluaBon
Analysis
ApplicaBon
Remembering and Understanding
Current Exam focus
Proposed Exam focus
What is the change? (Continued)
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Sec4on Remembering and Understanding
Applica4on Analysis Evalua4on
Current Exam ALL 50% 50% N/A N/A
Proposed Exam AUD
30%-‐40% 30%-‐40% 15%-‐25% 5%-‐15%
BEC
15%-‐25% 50%-‐60% 20%-‐30% N/A
FAR 10%-‐20% 50%-‐60% 25%-‐35% N/A
REG 25%-‐35% 35%-‐45% 25%-‐35%
N/A
What is the change? (Continued)
Sec4on Current Exam
Proposed Exam
Current Exam
Proposed Exam
Current Exam
Proposed Exam
AUD 90 70-‐75 7 8-‐9 0 0
BEC 72 60-‐65 0 4-‐5 3 3
FAR 90 60-‐65 7 8-‐9 0 0
REG 72 70-‐75 6 8-‐9 0 0
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Mul4ple-‐Choice Ques4ons
Task-‐Based Simula4ons
WriJen Communica4on
What’s next?
• Complete AICPA exposure draft available here: http://www.aicpa.org/BecomeACPA/CPAExam/nextexam/DownloadableDocuments/Next-CPA-Exam-Exposure-Draft-20150901.pdf – Comment Period: September 1 – November 30, 2015 – Feedback will be considered – Final Exam changes announced in 2016 – Exam to launch in 2017
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What does this mean for me?
• To the future candidate: Try to take all four parts before the change? Wait until after the changes have been implemented? Which section to take first?
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What does this mean for me? (Continued)
• To the current candidate:
Try to take all four parts before the change? Do I need to take all four parts before the change? Or will I lose credit for sections passed once the change occurs? Should I reconsider my strategy for what order to take each section?
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When will the next version of the Exam launch?
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2014: PracBce Analysis
2015: Exposure DraZ
2016: Finalized changes published
2017: Exam launch
In 2017
Will there be any content changes to the Exam?
• Four sections will be maintained
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AudiBng and A\estaBon (AUD)
Financial AccounBng and ReporBng (FAR)
Business Environment and Concepts (BEC)
RegulaBon (REG)
Will there be any content changes to the Exam? (Continued)
*Cost for BEC and REG expected to increase $20/section
Wiley Efficient Learning Roadmap 21
Sec4on Current Time Proposed Time
AUD 4 hours 4 hours
FAR 4 hours 4 hours
REG 3 hours 4 hours*
BEC 3 hours 4 hours*
4 sec4ons 14 hours 16 hours
Will there be any content changes to the Exam? (Continued)
• Content Specification Outlines (CSOs) and Skills Specifications Outlines (SSOs) to be replaced with blueprints for each section
• Blueprint includes the content, skills and related representative tasks that will be tested on the Exam. Sample excerpt:
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Source: AICPA Exposure DraZ. September 2015
Will there be any content changes to the Exam? (Continued)
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Source: AICPA Exposure DraZ: Maintaining the Relevance of the Uniform CPA Exam (September 1, 2015)
AUD Content Areas:
Will there be any content changes to the Exam? (Continued)
• Written communication tasks will be maintained solely in BEC testing strictly written communication skills
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Source: AICPA Exposure DraZ: Maintaining the Relevance of the Uniform CPA Exam (September 1, 2015)
BEC Content Areas:
Will there be any content changes to the Exam? (Continued)
Wiley Efficient Learning Roadmap 25
Source: AICPA Exposure DraZ: Maintaining the Relevance of the Uniform CPA Exam (September 1, 2015)
FAR Content Areas:
Will there be any content changes to the Exam? (Continued)
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Source: AICPA Exposure DraZ: Maintaining the Relevance of the Uniform CPA Exam (September 1, 2015)
REG Content Areas:
I heard that we’ll have a free break. Is that true?
Testlet Testlet Testlet TBSs or WC Testlet
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Testlet Testlet Testlet TBSs Testlet (and WC
Testlets: BEC)
Proposed exam: Four hours. Clock will stop for one of the designated breaks
Current exam: Three or four hours. Clock does not stop for designated breaks
Will I still have 18 months to complete all four parts?
REG FAR AUD BEC
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• 18 months window from passing first section to completing last section is maintained
Pass Pass Pass
18 months
Pass
Will I still have 18 months to complete all four parts? (Continued)
REG FAR AUD REG BEC
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• 18 months window from passing first section to completing last section is maintained
If BEC is not been passed within 18 months of passing REG, REG score would fall off and need to be taken again within 18 months of passing FAR
Pass Pass Pass 18 months
Pass Pass
Will the Exam be more difficult?
• Increased testing of higher-order skills alone increases difficulty.
• Does a reduced number of MCQs offset the harder TBSs?
• Will the additional two hours to test make it easier? Or does this imply a much harder exam?
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How can Wiley CPAexcel help?
Wiley Efficient Learning Roadmap 35
• Over 12,000 multiple choice questions and 600 task-based simulations in the exam-identical interface — more than any other provider
• Bite-sized lessons for efficient learning • No expiration date, content always updated — no additional fees • Half the cost of our competitor • Learn more & take a test drive: http://www.efficientlearning.com/cpa/
Will I receive my score immediately?
• Score release timeline is not being impacted • First window or two of the new Exam may experience
delays in score reporting but afterwards score reporting will return to normal
• Visit the following page to see the current window’s score release timeline:
http://www.aicpa.org/BecomeACPA/CPAExam/Pages/CPAExam.aspx
> Psychometrics and Scoring > Scoring Information
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Are there still testing windows?
• No change to the testing windows and repeat sections remain prohibited within one window
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• January • February
March
• April • May
June • July • August
September
• October • November
December