Can I Take The Cpa Exam With A Finance Degree The Various CPA Exam Requirements to Become a CPA

You are searching about Can I Take The Cpa Exam With A Finance Degree, today we will share with you article about Can I Take The Cpa Exam With A Finance Degree was compiled and edited by our team from many sources on the internet. Hope this article on the topic Can I Take The Cpa Exam With A Finance Degree is useful to you.

The Various CPA Exam Requirements to Become a CPA

The CPA exam requirements are quite straightforward. However, I get many questions about the exam itself. Believe it or not, the composition of the exam, at least in terms of subject content relativity, hasn’t changed much over time.

In this article, I want to discuss the actual contents of the exam, but before that here is a summary of the CPA exam requirements you must meet to sit for it:

• 150 credit hours of accredited education

• A certain minimum number of credit hours in accounting courses

• A certain minimum number of credit hours in other business/related courses

• Bachelor’s degree

The Prometric CPA Exam Format

The Prometric CPA Exam is divided in four parts: Financial Accounting & Reporting (FAR), Audit & Attestation, Regulation and Business Environment & Concepts.

It would take about 2 days to complete the exam if you were to take all parts together, with each part lasting half a day. You need a score of at least 75 out of 100 to pass each part.

Most of the questions are in multiple choice (MC) format, with the rest interactive simulations (what we didn’t have in the old pen and paper exam) and essays. I don’t mean interactive where you can communicate and collaborate with others. The exam is “closed book”, and you will be signing an affirmation stating that you will not disclose the contents of the exam to anyone.

The simulation, or interactive part of the exam involves researching professional material from sources like the FASB and AICPA. When you become eligible to sit for the exam, you can apply for a free subscription to these materials so you can practice conducting research using them.

Essays are graded by a human based on the content of the essay, as well as the writing capability of the candidate. Graders are typically looking for candidates who can articulate answers in a clear and concise manner applying appropriate use of English. Needless to say that the answers must adequately address the question asked.

Here is a rough estimate of the relative question format in each part:

• FAR – 60% MC, 40% Interactive

• Audit & Attestation – 60% MC, 40 Interactive

• Regulation – 60% MC, 40 Interactive

• Business Environment & Concepts – 85% MC, 15% Essays

Here is a rough breakdown of the sub topics covered within each of the 4 major topics.

Financial Accounting & Reporting

• 8-12% Government

• 8-12% NFP (Not for Profits)

• 17-23% Concepts / Theory

• 27-33% Accounting & Disclosures

• 27-33% Transactions

Audit & Attestation

• 12-16% Audit Engagement Preparation & Planning

• 12-16% Accounting & Reviews

• 16-20% Internal Control Environment

• 16-20% Auditor’s Professional Responsibilities

• 16-20% Audit Procedures & Gathering Evidence

• 16-20% Audit Reporting

Regulation

• 11-15% Federal Income Tax

• 12-16% Gain/Loss Tax

• 13-19% Personal Income Tax

• 15-19% CPA Ethics

• 17-21% Business Law

• 18-24% Tax

Business Environment & Concepts

• 10-14% Strategy

• 12-16% Operations

• 15-19% Information Technology

• 16-20% Governance

• 16-20% Economics

• 19-23% Finance

Waiving the CPA Exam Requirements

One special circumstance in which the CPA exam requirements can be waived is in the instance an already licensed CPA practices as a traveling consultant or permanently moves to another State and continues to practice as an accountant.

Because the CPA exam’s governing body, the American Institute of Certified Public Accountants (AICPA) is a national entity, there is a concept of “reciprocity among States” that it has put in place that allows a State to grant you a CPA license based on your existing license from another State.

If you passed the CPA exam in State A, State B will likely recognize that. However, State B may have its own set of CPA license requirements. It is best to check with your State Board of Accountancy for specifics around its own CPA requirements.

Concluding Thoughts on the CPA Exam Requirements

Now that you know what the CPA exam requirements are and what the exam is like, I recommend getting yourself a quality CPA course to prepare you to pass the exam with flying colors. The CPA exam is one of the most challenging exams with the lowest passing rate. A good CPA course can help you prepare the best you can be and on your way to earning a healthy accountant salary.

Courses come in self-study form, multi-media interactive as well as in class taught by a live person. Pick whichever method you tend to learn from the best. The key is to prepare well and well in advance so that you are calm and confident when going into the exam day.

I hope this brief summary of the CPA exam helped. Please let me know if you have any questions about the CPA exam requirements. I would be happy to help.

Video about Can I Take The Cpa Exam With A Finance Degree

You can see more content about Can I Take The Cpa Exam With A Finance Degree on our youtube channel: Click Here

Question about Can I Take The Cpa Exam With A Finance Degree

If you have any questions about Can I Take The Cpa Exam With A Finance Degree, please let us know, all your questions or suggestions will help us improve in the following articles!

The article Can I Take The Cpa Exam With A Finance Degree was compiled by me and my team from many sources. If you find the article Can I Take The Cpa Exam With A Finance Degree helpful to you, please support the team Like or Share!

Rate Articles Can I Take The Cpa Exam With A Finance Degree

Rate: 4-5 stars
Ratings: 2774
Views: 79812660

Search keywords Can I Take The Cpa Exam With A Finance Degree

Can I Take The Cpa Exam With A Finance Degree
way Can I Take The Cpa Exam With A Finance Degree
tutorial Can I Take The Cpa Exam With A Finance Degree
Can I Take The Cpa Exam With A Finance Degree free
#CPA #Exam #Requirements #CPA

Source: https://ezinearticles.com/?The-Various-CPA-Exam-Requirements-to-Become-a-CPA&id=6851816

Related Posts

default-image-feature

Can I Take My Car Apart If It Is Financed Causes and Effects of Deficit Financing

You are searching about Can I Take My Car Apart If It Is Financed, today we will share with you article about Can I Take My Car…

default-image-feature

Can I Take My Car Abroad If Its On Finance Global Financing – Hard and Soft Currency

You are searching about Can I Take My Car Abroad If Its On Finance, today we will share with you article about Can I Take My Car…

default-image-feature

Can I Switch Carriers While Financing My Phone Through Apple Pet Friendly Destinations – Top 10 International Picks For a Vacation With Your Pet

You are searching about Can I Switch Carriers While Financing My Phone Through Apple, today we will share with you article about Can I Switch Carriers While…

default-image-feature

Can I Still Get Apple Special Financing After 30 Days The Discipline of the Wait

You are searching about Can I Still Get Apple Special Financing After 30 Days, today we will share with you article about Can I Still Get Apple…

default-image-feature

Can I Special Financing Amazon Store Card Above Credit Limit Everything You Need to Know About Selling Your Product on Amazon

You are searching about Can I Special Financing Amazon Store Card Above Credit Limit, today we will share with you article about Can I Special Financing Amazon…

default-image-feature

Can I Sign Check Made To Finance Company And Me The Entrepreneurial Code – Lessons Learned from a Failed Ivy League Entrepreneur

You are searching about Can I Sign Check Made To Finance Company And Me, today we will share with you article about Can I Sign Check Made…