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CPA

 

 

 

 Certified Public Accountant(CPA)

CPA is a globally recognized financial course offered by AICPA (The American Institute of Public Accountants ) USA.

A CPA is a trusted financial advisor who helps individuals, businesses, and other organizations plan and reach their financial goals

All CPAs are accountants, but not all accountants are CPAs.

How to become CPA?

3 E’s are required for licensure:

  • Education
  • Exam or Uniform CPA Examination
  • Experience

State Boards of Accountancy determine the laws and rules for each state/jurisdiction
Education

  • Requirements vary by state/jurisdiction (see state requirements)
  • Most states now require 120-150 semester hours
  • Number of accounting hours (in the 150 total) is dependent on state requirements

Uniform CPA Examination

Computer-based format

Consists of 4 sections

  • Auditing and Attestation (AUD)
  • Business Environment and Concepts (BEC)
  • Financial Accounting and Reporting (FAR)
  • Regulation (REG)
  • Same test no matter where it is taken
  • Passing score is 75 on a 0-99 scale
  • Question types include multiple choice, simulation and written communication
  • Eligibility to sit for exam depends on state
  • Examination Center
  • Prometric centers in UAE, Kuwait, Bahrain, Lebanon, Japan & Brazil subject to conditions.

Exam Format

Subjects

Exam Details

TIME

M T

WCT

Paper 1 : Auditing & Attestation

4

36×2

8

 
Paper 2 : Financial Accounting & Reporting

4

33×2

8

 
Paper 3 : Regulation (Law & Tax)

4

38×2

8

 
Paper 4 : Business Environment & Concepts

4

31×2 2

3

  • MCQ – Multiple Choice Questions      2 Test lets 
  • TBS – Task Based Simulations
  • WCT – Written Communication Task

Experience

  • A candidate is an applicant for a CPA license
  • Many states require the candidate to have 1 – 2 years’ experience under a CPA
  • Additional requirements vary by the candidate’s
  • Education – e.g., Graduate degree vs. 150 hours of undergraduate
  • Employer(s) – e.g., Public accounting firm vs. industry
  • Type of work – e.g., Tax professional vs. auditor
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