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Introduction to CPA Regulation Exam

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

  • Auditing and Attestation (AUD)
  • Financial Accounting and Reporting (FAR)
  • Business Environment and Concepts (BEC)
  • Regulation (REG)

This exam is designed to test the minimum knowledge and skills required of a CPA. The Exam is managed by three main partners:

  • The AICPA develops, maintains, and scores the Exam.
  • Pro metric is the company that delivers the Exam at its authorized test centers.
  • The Exam is provided on behalf of Boards of Accountancy, which issue CPA licenses.
  • The National Association of State Boards of Accountancy (NASBA) manages the National Candidate Database

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.

For more info read reference:

REG Section Blueprint (effective July 1, 2019) CPA Exam Study Materials - aicpa

Reference: http://www.aicpa.org/BecomeACPA/CPAExam/ForCandidates/FAQ/Pages/computer_faqs_2.aspx

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AICPA CPA-Regulation Exam Syllabus Topics:

SectionWeightObjectives
Federal Taxation of Entities15–25%- Partnerships
- S corporations
- C corporations taxation
- Estate and trust taxation basics
Federal Taxation of Individuals15–25%- Deductions and credits
- Gross income inclusions and exclusions
- Individual tax computations
Business Law20–30%- Agency
- Contracts
- Commercial transactions (UCC)
- Business structure and regulation
Ethics, Professional Responsibilities and Federal Tax Procedures15–25%- Ethical and professional responsibilities
- Federal tax procedures
Federal Taxation of Property Transactions5–15%- Basis calculations
- Property disposition and recognition of gain/loss

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