the importance of a strategy - aicpa...accounting/audit jobs by 2016 –2026 *u.s. bureau of labor...
TRANSCRIPT
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The Importance of a StrategyPreparing for the Uniform CPA Examination
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Why pursue the CPA?
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Prestige and respect
Competitive edge
Career security
Job satisfaction and variety
Earning potential
CPA value
3
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Positive outlook
4
Average growth*
for all jobs
2016 – 2026
10%
7%
Projected growth* in
accounting/audit jobs
by 2016 – 2026
*U.S. Bureau of Labor Statistics; +2019 Robert Half Salary
Guide for Accounting and Finance Professionals
+Public accounting firms “are taking
greater measures to retain their best
performers and recruit new employees.
They’re offering higher salaries, giving
employees bonuses and more time off,
and providing perks…”
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Who is the AICPA?
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6
What is the
AICPA’s role with
the CPA Exam?
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Your Exam Strategy
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Understand candidate requirements
Learn about the Exam and what it tests
Manage your time wisely
Form a support network
Rely on Exam partners
5 Easy Strategies
8
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Strategy #1:
Understand candidate requirements
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License eligibility
10
Education
Examination
Experience
*Ethics
*Confirm Ethics Exam requirement with your specific jurisdiction
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The candidate process
11
Determine
Eligibility
Submit
Application
Schedule
Exam
Sit for Exam and
Get Score
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Strategy #2:
Learn about the Exam and what it tests
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How do you
test me?
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Exam basics
14
18
months to pass
all sections
75
or higher on
each section
15
minute break
option to pause
the Exam timer
5
testlets per section
4Exam sections
4hours of testing per section
x
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What does the
Exam test?
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Higher order skills
Critical thinking
Analytical ability
Problem solving
Professional skepticism
Effective communication
16
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Skill levels
17
Evaluation
Analysis
Application
Remembering and Understanding
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CPA Exam Blueprints
18
Content
Organization
& Weighting
Skill Allocation
& Weighting
Representative
Tasks
References
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21
AUD
72MCQ
8TBS
Skill Weighting• 5-15% Evaluation
• 15-25% Analysis
• 30-40% Application
• 30-40% Remembering and Understanding
Auditing and Attestation
Content Areas• Ethics, Professional Responsibilities, and General Principles
• Assessing Risk and Developing a Planned Response
• Performing Further Procedures and Obtaining Evidence
• Forming Conclusions and Reporting
Allocation15-25%
20-30%
30-40%
15-25%
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22
BEC
Skill Weighting• 20-30% Analysis
• 50-60% Application
• 15-25% Remembering and Understanding
Business Environment and Concepts
62MCQ
4TBS
3
Written
Communication
Content Areas• Corporate Governance
• Economic Concepts and Analysis
• Financial Management
• Information Technology
• Operations Management
Allocation17-27%
17-27%
11-21%
15-25%
15-25%
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23
FAR
66MCQ
8TBS
Skill Weighting• 25-35% Analysis
• 50-60% Application
• 10-20% Remembering and Understanding
Financial Accounting and Reporting
Content Areas• Conceptual Framework, Standard-Setting and Financial Reporting
• Select Financial Statement Accounts
• Select Transactions
• State and Local Governments
Allocation25-35%
30-40%
20-30%
5-15%
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24
REG
76MCQ
8TBS
Skill Weighting• 25-35% Analysis
• 35-45% Application
• 25-35% Remembering and Understanding
Regulation
Content Areas• Ethics, Professional Responsibilities and Federal Tax Procedures
• Business Law
• Federal Taxation of Property Transactions
• Federal Taxation of Individuals
• Federal Taxation of Entities
Allocation10-20%
10-20%
12-22%
15-25%
28-38%
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Exam structure
25
Testlet #1
Multiple-
choice
question
Testlet #2
Multiple-
choice
question
Testlet #3
Task-
based
simulation
Testlet #4
Task-
based
simulation
Testlet #5
Task-
based
simulation(Written
communication
BEC only)
15-minute
break
(pause timer)
Optional
break
(timer runs)
Optional
break
(timer runs)
Optional
break
(timer runs)
Welcome/Launch code screens – 5 minutes
Policy/Confidentiality/Section Info – 5 minutes
Survey – 5 minutes
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Sample Tests
26
Practice with the real CPA Exam software
Highlights:
• Intuitive interface
• Dedicated “work space”
• Seamless cut/copy/paste and highlight
• Microsoft Excel
• TBS answer explanations/WCT model answers
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Strategy #3:
Manage your time
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The 18-month journey
Navigate family, work, and other personal obligations
When will you study?
Will you need time off from work?
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Know the rules of the test center
4 hours to complete each section
15-minute standardized break
Test day planning
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Strategy #4:
Form a support network
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You’ve got support
32
Friends/Family
Fellow candidates
Professors
Employers/Colleagues
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Strategy #5:
Rely on Exam partners
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Exam partners
34
AICPA (aicpa.org/cpaexam)
NASBA(nasba.org)
Prometric (prometric.com)
Boards of
Accountancy
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35
aicpa.org/cpaexam
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Join us…
36
“CPA Exam Candidate”
Group
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Tune in to the official CPA Exam podcast
37
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Thank you© 2018 Association of International Certified Professional Accountants. All rights reserved.
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