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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:
| Section | Weight | Objectives |
|---|---|---|
| Federal Taxation of Entities | 15–25% | - Partnerships - S corporations - C corporations taxation - Estate and trust taxation basics |
| Federal Taxation of Individuals | 15–25% | - Deductions and credits - Gross income inclusions and exclusions - Individual tax computations |
| Business Law | 20–30% | - Agency - Contracts - Commercial transactions (UCC) - Business structure and regulation |
| Ethics, Professional Responsibilities and Federal Tax Procedures | 15–25% | - Ethical and professional responsibilities - Federal tax procedures |
| Federal Taxation of Property Transactions | 5–15% | - Basis calculations - Property disposition and recognition of gain/loss |
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