CPA Exam Basics and How to Get Started

CPA Exam Basics & Getting Started

Share this eBook!www.rogercpareview.com

CPA Exam Basics &

How to Get Started

http://www.rogercpareview.com/

http://twitter.com/intent/tweet?text=http://rogercpareview.web101.hubspot.com/ebook-cpa-exam-basics--how-to-get-started#quickpreview


http://www.facebook.com/sharer/sharer.php?u=http://rogercpareview.web101.hubspot.com/ebook-cpa-exam-basics--how-to-get-started#quickpreview


http://www.linkedin.com/shareArticle?mini=true&url=http://hub.am/16SKEB6




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

CONTENTS

03

04

10

18

22

2










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!

3

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.

So start by reading this book.

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.










What is this thing they

call the CPA Exam?










•Standards, Planning & Evidence, Internal

Control, Reports, Compilations & Reviews

AUDITING4 hrs

•Business Enterprises, Governmental

Entities, Non-for-Profit OrganizationsFINANCIAL

4 hrs

•Federal Taxation, Ethics, Professional and

Legal Responsibilities, and Business Law REGULATION

3 hrs

•Cost Accounting, Economic Concepts,

Financial Mgmt., Information Technology

BUSINESS ENVIRONMENT &

CONCEPTS

3 hrs

5










What is on each section?

6

Want more info? Watch

webcasts from our video archive.








http://www.rogercpareview.com/webcast/archive/


http://www.rogercpareview.com/webcast/archive/index.cfm?video=CPAExamSeminar





14testing total

18 month Rolling Window: 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.

hours of

months to18 complete all 4 parts

7










What is the format of AUD, FAR, and REG?

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.

Task Based Simulations

(6 or 7)

Once you move forward into a new section, you cannot go back and change your answers.

When Testlet #3 is complete, move onto the Task Based Simulations.

Multiple Choice Testlet #3

Once you’ve advanced a Testlet, you cannot go back to #1.

You can mark questions for review, and bounce around within each Testlet.


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


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!

Start Exam

8*question types explained on page 11










What is the format of BEC?

3 questions total

W/C tests you on your ability to explain a concept. Have a beginning, middle, and end.

Written Communication

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.

Multiple Choice Teslet #3

24 Questions in each teslet

Once you’ve advanced a teslet, you cannot go back


Once you begin, you will enter M/C Teslet #1.

You can mark questions for review, and bounce around within this teslet.

Once finished and all questions have been answered, move to teslet #2


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!

Start Exam

9










Multiple choice

Tasked Based Simulations

Written Communication










Multiple Choice (MCQ)

• 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)

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!

Written Communication (WC)

• 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.

11










60%

MCQ

85%

MCQ

15%WC

40%TBS

How are the sections weighted?

BECAUD, FAR, REG

*TBS=Tasked Based Simulation 12










Click on a number to see

what question is ahead.

Countdown Clock

13

Sample Multiple Choice










Customize your view

Fill out the

orange boxes

You may be

filling out a

form

14

Sample TBS










Fill in the

appropriate

answer

Research

Question.

Find your

answers in

the

authoritative

literature

15










Search by topic to find the

information you are

looking for in the literature

Search

terms are

highlighted

16

Sample TBS










WC questions

are to be

answered in

memo format

Includes a spell

checker, but no

grammar checker

WC questions are checked

for relevancy to the

question asked

17

Sample Written Communication










What do I need to pass?!










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.

19










48% pass on their first tryof people taking the exam

Only

This includes everyone!

• 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

20










88% pass on the first try of Roger CPA Review students

21Find out why!








http://www.rogercpareview.com/cpa-course-benefits-overview.cfm





Haow mutch skooling do i nied?










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

accounting (24-36 sem.) However, you do not necessarily always

need an accounting degree.

Education Requirements

23

Check my state’s

education requirements








http://www.rogercpareview.com/cpa-exam-state-requirements-overview.cfm







CPA Exam Checklist

A

A

A

STEP 01: Check your state’s education requirements.

STEP 02: Visit NASBA.org or your state Board of Accountancy website for forms and

instructions on application.

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.

24










A

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.

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:

Section AUD FAR REG BEC TOTAL

Fee $190.35 $190.35 $171.25 $171.25 $723.20

25










A

A

A

STEP 06: Receive Notice To Schedule (NTS)

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.

STEP 08: Take your Exam at a

Prometric Testing Center.

Prometric Test Centers – Domestic & International

Baltimore, MD

Tokyo, Japan

Beirut, Lebanon

26








https://www.prometric.com/en-us/Pages/home.aspx



>Efficient. A CPA candidate’s time is valuable, and we respect that.

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.

>Effective. With an 88% pass rate, we know the methodology works.

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.

>Enjoyable. The CPA Exam is scary, stressful and daunting. But it doesn’t have to be so bad.

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 miss their course after passing the exam.

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.

27










If you study,

you will pass!-Roger Philipp, CPA

28

“ ”








Documents

CPA Exam Basics and How to Get Started