Topics of Certified Public Accountant (CPA) Exam

The CPA Exam test consists of four, four-hour sections. You must clear all four sections within 18 months with a minimum score of 75 on each part. The core topics for each of the four sections are listed below. These contents are likely to be used for the examination. However, on any particular delivery of the test, other similar topics could also appear.

It is recommended that, where possible, the applicant uses these contents and/or other resources to provide background information on the exam objectives. The syllabus for the Certified Public Accountant (CPA) Exam is listed below with detail of each section and their topics:

1. Auditing and Attestation (AUD)

Objectives covered by this section:

Developing a Planned Response & Assessing Risk (20 to 30%)

• Materiality
• Assessing and identifying the risk of material misstatement
• Debtor-creditor relationships
• Entity's internal control
• Specific areas of engagement risk
• Planning an engagement

Professional Responsibilities, Ethics & General Principles (15 to 25%)

• Communication with component auditors
• Communication with management
• Nature and scope
• Engagement documentation
• Ethics and professional conduct
• A firm's system of quality control

Obtaining Evidence & Performing Further Procedures (30 to 40%)

• Written representation
• Internal control deficiencies and misstatements
• Subsequent events
• Performing specific procedures to get evidence
• Acquisition and disposition of assets
• Sampling techniques

Reporting and Forming Conclusions (15 to 25%)

• Reports on attestation engagements
• Review service engagements
• Reports on auditing engagements
• Reporting on compliance
• Other reporting considerations

2. Regulation (REG)

Objectives covered by this section:

Federal Tax Procedures, Professional Responsibilities, and Ethics (10 to 20%)

• Legal duties
• Licensing and disciplinary systems
• Responsibilities in tax practice
• Federal tax procedures

Business Law (10 to 20%)

• Contracts
• Agency
• Debtor-creditor relationships
• Business structure
• Government regulation of business

Federal Taxation of Property Transactions (12 to 22%)

• Gift tax annual exclusion
• Cost recovery
• Determination of taxable estate
• Estate and gift taxation
• Acquisition and disposition of assets
• Gift tax deductions

Federal Taxation of Individuals (15 to 25%)

• Gross income
• Computation of tax and credits
• Computation of tax and credits
• Alternative Minimum Tax
• Passive activity losses
• Reporting items from pass-through entities
• Filing status

Federal Taxation of Entities (28 to 38%)

• Liquidation of business entities & tax treatment of formation
• C corporations
• Partnerships
• Tax-exempt organizations
• Limited liability companies
• Trusts and estates
• S corporations

3. Financial Accounting and Reporting (FAR)

Objectives covered by this section:

Standard-Setting, Conceptual Framework, and Financial Reporting (25 to 35%)

• Standard setting and conceptual framework for nonbusiness entities
• Standard setting for non-business entities
• Special purpose framework
• General-purpose financial statements
• Conceptual framework
• Public company reporting topics

Select Financial Statement Accounts (30 to 40%)

• Long-term debt
• Property, plant, and equipment
• Compensation benefits
• Cash and cash equivalents
• Intangible assets
• Inventory
• Income taxes
• Investments

Select Transactions (20 to 30%)

• Fair value measurements
• Leases
• Accounting changes and error corrections
• Business combinations
• Foreign currency transaction and translation
• Research and development costs
• Differences between IFRS and U.S. GAAP
• Nonreciprocal transfers
• Contingencies and commitments
• Subsequent events
• Software costs
• Derivatives and hedge accounting

State and Local Governments (5 to 15%)

• Government-wide financial statements
• Specific types of transactions and events: calculation, measurement, presentation in a governmental entity, and valuation
• Comprehensive Annual Financial Report (CAFR)
• State and local government concepts

4. Business Environment and Concepts (BEC)

Objectives covered by this section:

Corporate Governance (17 to 27%)

• Internal control frameworks
• Regulatory frameworks and provisions
• ERM (Enterprise Risk Management) frameworks

Economic Concepts and Analysis (17 to 27%)

• Financial risk management
• Economic business cycles
• Market influences on business

Financial Management (11 to 21%)

• Working capital
• Financial valuation methods
• Capital structure

Information Technology (15 to 25%)

• Processing integrity
• Systems development of maintenance
• IT governance
• Information security/availability
• Role of information technology business

Operations Management (15 to 25%)

• Performance management
• Process management
• Planning techniques
• Cost accounting

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How to book the Certified Public Accountant (CPA) Exam

Follow the steps mentioned below to book the Certified Public Accountant (CPA) Exam:

• Step 1: Determine your eligibility from the NASBA website by clicking here
• Step 2: Select a jurisdiction where you want to become a licensed CPA
• Step 3: Access the application by clicking here
• Step 4: Complete the application, prepare from the CPA exam dumps and submit all required documents
• Step 5: Schedule your exam by following this link

How much Certified Public Accountant (CPA) Exam Cost

The cost of this exam differs according to the state of but roughly it costs around USD 200 per section and a total of around USD 800 for all four sections. Hover on to the official website of AICPA and choose your state for more pricing information. Other costs may also incur like buying the CPA exam dumps pdf and then practicing for the exam via the CPA practice test.

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