The Uniform Certified Public Accountant Exam, known as the CPA, is given twice a year, in May and November. The CPA is a 14-hour exam, which requires a score of 75 or higher on each section to pass. Anyone who wants to obtain a license as a certified public accountant must pass the exam.
Instructions
1. Know the exam structure. The CPA is divided into four parts: auditing and attestation, financial accounting and reporting, regulation, and business environments and concepts. The CPA consists of multiple choice questions, objective questions and essays.
2. Pick a review program that will fit your needs. Taking a review CPA course will help you stay focused and understand the material better, and you will receive the benefit of asking questions when clarification is needed. If you decide to study on your own, buy up-to-date review books.
3. Study the material needed to pass the auditing and attestation section. This section requires knowledge of auditing procedures, auditing standards and every standard related to attest engagements. Be prepared to answer multiple choice questions, objective questions and write essays in the auditing and attestation section.
4. Study the material needed to pass the financial accounting and reporting section. Study the accounting principles used in business enterprises, governmental entities and not-for-profit organizations. Practice answering multiple choice questions and objective questions using the accounting principles. No essays will be given in this section.
5. Study for the regulation section. This section tests your knowledge of federal taxation, ethics, business law and legal and professional responsibilities. The regulation section will use the three forms of questions.
6. Study for the business environments and concepts section. Prepare to answer all three types of questions, which also will cover the process of performing financial statement audits.
Tags: auditing attestation, choice questions, choice questions objective, multiple choice, multiple choice questions