your future, right now!
DESCRIPTION
Your Future, Right Now!. A Review of the CPA and CMA Exams by Dr. Monte Swain. AICPA. States. NASBA. Schools. Exam Prep Providers. Employers. Candidates. CPA Stakeholders. CPA Requirements???. National Association of State Boards of Accountancy www.nasba.org - PowerPoint PPT PresentationTRANSCRIPT
![Page 1: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/1.jpg)
Your Future, Right Now!
A Review of the CPA and CMA Exams by Dr. Monte Swain
![Page 2: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/2.jpg)
AICPA
States NASBA Schools
Exam Prep Providers Employers
![Page 3: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/3.jpg)
![Page 4: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/4.jpg)
![Page 5: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/5.jpg)
![Page 6: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/6.jpg)
Section Name Section Time Section Format Section Description
Auditing and Attestation 4.5 hours
3 MCQ testlets and 2 simulation testlets
This section covers knowledge of auditing procedures, generally accepted auditing standards and other standards related to attest engagements, and the skills needed to apply that knowledge in those engagements.
Business Environment and Concepts 2.5 hours 3 MCQ testlets
This section covers knowledge of general business environment and business concepts that candidates need to know in order to understand the underlying business reasons for, and accounting implications of, business transactions, and the skills needed to apply that knowledge.
Financial Accounting and Reporting 4 hours
3 MCQ testlets and 2 simulation testlets
This section covers knowledge of generally accepted accounting principles for business enterprises, not-for-profit organizations, and governmental entities, and the skills needed to apply that knowledge.
Regulation 3 hours 3 MCQ testlets and 2 simulation testlets
This section covers knowledge of federal taxation, ethics, professional and legal responsibilities, and business law, and the skills needed to apply that knowledge.
![Page 7: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/7.jpg)
Exam Prep Providers (the “biggies”)– Becker (a lecture/coaching service)
• $865 per part, plus $95 registration fee. If you register for all four parts, discounted to a total of $2,690
– Gleim (a guided self-study service)• complete set for $989.95
![Page 8: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/8.jpg)
Nobody Cares About the Score!
Remember: It’s a Pass/Fail Exam!!
![Page 9: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/9.jpg)
• Do the following:– Complete your education requirement (depends on
the state)– Become a member of the AICPA– Pass all four parts of the exam– Satisfy the experience requirement (depends on the
state)– Comply with the Standards of Ethical Conduct
• To Retain Certification:– Continuing education—80 hours every 2years– Maintain membership– Comply with the Standards of Ethical Conduct
![Page 10: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/10.jpg)
![Page 11: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/11.jpg)
![Page 12: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/12.jpg)
AICPA
States NASBA Schools
Exam Prep Providers Employers
![Page 13: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/13.jpg)
IMA
Schools
Exam Prep Providers Employers
![Page 14: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/14.jpg)
• Education: Bachelor’s degree
• Experience: Two continuous years of professional experience in management accounting or financial management. This may be completed prior to application or within seven years of passing the examination
![Page 15: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/15.jpg)
Section Name Section Time Section Format Section Description
Business Analysis 3 hours 110 MC
Business Economics, Global Business, Internal Controls, Quantative Methods, Financial Statement Analysis
Management Accounting and Reporting
4 hours 140 MCBudget Preparation, Cost Management, Information Management, Performance Meausurement, External Financial Reporting
Strategic Management 3 hours 110 MC Strategic Planning, Strategic Marketing,
Corporate Finance, Decision Analysis, Investment Decision Analysis
Business Applications 3 hours
3-7 written-response essays and problems
All topics from parts 1, 2, and 3, plus organization management, organization communication, behavioral issues, and ethical considerations.
![Page 16: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/16.jpg)
• Do the following:– Complete your education requirement (BS degree)– Become a member of the IMA– Pass all four parts of the exam (skip one part if CPA)– Satisfy the experience requirement (two years)– Comply with the Standards of Ethical Conduct
• To Retain Certification:– Continuing education—30 hours per year– Maintain membership– Comply with the Standards of Ethical Conduct
![Page 17: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/17.jpg)
The Certification CalendarJan Feb Mar April May June July Aug Sept Oct Nov Dec
CPA CPA CPA CPA CPA CPA CPA CPA
CMA CMA CMA CMA CMA CMA CMA CMA CMA CMA CMA CMA
CMA Part 4
CMA Part 4
CMA Part 4
CMA Part 4
*Visit www.prometric.com/cpa for CPA Exam Testing Information and Testing Centers*Visit www.prometric.com/icma for CMA Exam Testing Information and Testing Centers
![Page 18: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/18.jpg)
Commit to a date, and get it done it fast!
April May June July August September
Graduate
Take a short break!
Study for two weeks
Take two sections of CPA Exam
Two week break!
Study for two weeks
Take two sections of the CPA Exam
Short Break!
Start studying for CMA
Take CMA Exam—only three parts if CPA is passed (plan on it!)
Short Break!
Start your career with six letters behind your name!!
A Sample ScheduleA Student Email received August 22, 2008 (used with permission)
Thank you for encouraging us to take the CPA exam quickly after we graduated. I took 2 parts in May, and the other 2 sections in July (June was a blackout month). I passed all four parts, and now I don't have to worry about them when I start work. I definitely agree with your recommendation to finish all four parts in a short window. You and the other professors at BYU prepared us well for the exam and our professions.
![Page 19: Your Future, Right Now!](https://reader035.vdocument.in/reader035/viewer/2022062815/56812e5a550346895d940057/html5/thumbnails/19.jpg)
Your future is in your hands! (With some help from others)