the importance of a strategy - aicpa...accounting/audit jobs by 2016 –2026 *u.s. bureau of labor...
TRANSCRIPT
The Importance of a StrategyPreparing for the Uniform CPA Examination
Why pursue the CPA?
Prestige and respect
Competitive edge
Career security
Job satisfaction and variety
Earning potential
CPA value
3
Positive outlook
4
Average growth*
for all jobs
2016 – 2026
10%
7%
Projected growth* in
accounting/audit jobs
by 2016 – 2026
*U.S. Bureau of Labor Statistics; +2019 Robert Half Salary
Guide for Accounting and Finance Professionals
+Public accounting firms “are taking
greater measures to retain their best
performers and recruit new employees.
They’re offering higher salaries, giving
employees bonuses and more time off,
and providing perks…”
Who is the AICPA?
6
What is the
AICPA’s role with
the CPA Exam?
Your Exam Strategy
Understand candidate requirements
Learn about the Exam and what it tests
Manage your time wisely
Form a support network
Rely on Exam partners
5 Easy Strategies
8
Strategy #1:
Understand candidate requirements
License eligibility
10
Education
Examination
Experience
*Ethics
*Confirm Ethics Exam requirement with your specific jurisdiction
The candidate process
11
Determine
Eligibility
Submit
Application
Schedule
Exam
Sit for Exam and
Get Score
Strategy #2:
Learn about the Exam and what it tests
How do you
test me?
13
Exam basics
14
18
months to pass
all sections
75
or higher on
each section
15
minute break
option to pause
the Exam timer
5
testlets per section
4Exam sections
4hours of testing per section
x
What does the
Exam test?
Higher order skills
Critical thinking
Analytical ability
Problem solving
Professional skepticism
Effective communication
16
Skill levels
17
Evaluation
Analysis
Application
Remembering and Understanding
CPA Exam Blueprints
18
Content
Organization
& Weighting
Skill Allocation
& Weighting
Representative
Tasks
References
19
20
21
AUD
72MCQ
8TBS
Skill Weighting• 5-15% Evaluation
• 15-25% Analysis
• 30-40% Application
• 30-40% Remembering and Understanding
Auditing and Attestation
Content Areas• Ethics, Professional Responsibilities, and General Principles
• Assessing Risk and Developing a Planned Response
• Performing Further Procedures and Obtaining Evidence
• Forming Conclusions and Reporting
Allocation15-25%
20-30%
30-40%
15-25%
22
BEC
Skill Weighting• 20-30% Analysis
• 50-60% Application
• 15-25% Remembering and Understanding
Business Environment and Concepts
62MCQ
4TBS
3
Written
Communication
Content Areas• Corporate Governance
• Economic Concepts and Analysis
• Financial Management
• Information Technology
• Operations Management
Allocation17-27%
17-27%
11-21%
15-25%
15-25%
23
FAR
66MCQ
8TBS
Skill Weighting• 25-35% Analysis
• 50-60% Application
• 10-20% Remembering and Understanding
Financial Accounting and Reporting
Content Areas• Conceptual Framework, Standard-Setting and Financial Reporting
• Select Financial Statement Accounts
• Select Transactions
• State and Local Governments
Allocation25-35%
30-40%
20-30%
5-15%
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REG
76MCQ
8TBS
Skill Weighting• 25-35% Analysis
• 35-45% Application
• 25-35% Remembering and Understanding
Regulation
Content Areas• Ethics, Professional Responsibilities and Federal Tax Procedures
• Business Law
• Federal Taxation of Property Transactions
• Federal Taxation of Individuals
• Federal Taxation of Entities
Allocation10-20%
10-20%
12-22%
15-25%
28-38%
Exam structure
25
Testlet #1
Multiple-
choice
question
Testlet #2
Multiple-
choice
question
Testlet #3
Task-
based
simulation
Testlet #4
Task-
based
simulation
Testlet #5
Task-
based
simulation(Written
communication
BEC only)
15-minute
break
(pause timer)
Optional
break
(timer runs)
Optional
break
(timer runs)
Optional
break
(timer runs)
Welcome/Launch code screens – 5 minutes
Policy/Confidentiality/Section Info – 5 minutes
Survey – 5 minutes
Sample Tests
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Practice with the real CPA Exam software
Highlights:
• Intuitive interface
• Dedicated “work space”
• Seamless cut/copy/paste and highlight
• Microsoft Excel
• TBS answer explanations/WCT model answers
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Strategy #3:
Manage your time
The 18-month journey
Navigate family, work, and other personal obligations
When will you study?
Will you need time off from work?
Know the rules of the test center
4 hours to complete each section
15-minute standardized break
Test day planning
Strategy #4:
Form a support network
You’ve got support
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Friends/Family
Fellow candidates
Professors
Employers/Colleagues
Strategy #5:
Rely on Exam partners
Exam partners
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AICPA (aicpa.org/cpaexam)
NASBA(nasba.org)
Prometric (prometric.com)
Boards of
Accountancy
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aicpa.org/cpaexam
Join us…
36
“CPA Exam Candidate”
Group
Tune in to the official CPA Exam podcast
37
Thank you© 2018 Association of International Certified Professional Accountants. All rights reserved.
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