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Certified Public Accountant consists of four-part, 16-hour CPA Exam is a masters-level professional certification. Candidates are supposed to pass all four-part assessment with in time frame of 18 months in order to qualify for a CPA license.
The four parts are
This exam is designed to test the minimum knowledge and skills required of a CPA. The Exam is managed by three main partners:
Before taking this exam, candidates should have a solid knowledge of the topics outlined in this preparation guide.
The Certified Business Manager (CPA) is a global, competency-based credential that is designed to validate the skills and knowledge of accountancy candidate who can operates at a global market.
After passing this exam, candidates get a certificate from AICPA that helps them to demonstrate their proficiency in managing Business to their clients and employers.
Reference: http://www.aicpa.org/BecomeACPA/CPAExam/ForCandidates/FAQ/Pages/computer_faqs_2.aspx
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Preparation Guide for CPA Regulation Exam
Introduction
The AICPA is committed to providing students and Certified Public Accountant, CPA Regulation candidates with the information and tools to guide them to successful entry into the accounting profession.
AICPA vision is to establish a standardized process to deliver in a cost-effective and time-efficient manner a superior quality higher education in accounts across the globe with the CPA Regulation Certifications.
AICPA's goal or objective is to ensure that a business manager who earns the CPA or CABM credential today will be knowledge-competent and ethical for throughout his/her career and that he/she will then broaden these core knowledge proficiencies and ethical values to tomorrow when he/she becomes a business executive (e.g., CEO) or a corporate director. To this end, AICPA represents a single and collective voice for the entire business management profession, which symbolizes self-regulation by the profession.
Certification is evidence of your skills, expertise in those areas in which you like to work. If candidate wants to work in Public Accountant and prove his knowledge, Certification offered by AICPA. This CPA Regulation Exam Certification helps a candidate to validates his skills in Public Accountant.
In this guide, we will cover the CPA Certification exam, CPA Certified professional salary and all aspects of the CPA Certification.
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Business Law | 15-25% | - Employment and federal business regulations - Uniform Commercial Code (UCC) articles - Business structure legal characteristics - Debtor-creditor relationships and bankruptcy - Agency relationships and authority - Contract formation and performance |
| Topic 2: Federal Taxation of Individuals | 22-32% | - Filing status and dependency rules - Adjustments, deductions, and exemptions - Tax credits and alternative minimum tax - Loss limitations and carryovers - Gross income inclusions and exclusions |
| Topic 3: Ethics, Professional Responsibilities, and Federal Tax Procedures | 10-20% | - Privileged communications and disclosure rules - Federal tax audit and appeal procedures - Tax preparer penalties and due diligence - Treasury Department Circular 230 - Ethics and responsibilities in tax practice |
| Topic 4: Federal Taxation of Entities | 23-33% | - Gift, estate, and trust taxation - Partnerships and LLCs - Tax-exempt organizations - Book-tax differences - C corporations and S corporations |
| Topic 5: Federal Taxation of Property Transactions | 12-22% | - Capital vs ordinary asset classification - Like-kind exchanges and involuntary conversions - Cost recovery: depreciation, amortization, depletion - Recognition of gains and losses - Asset basis and holding periods |
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