What Is the CPA Exam?
In order to become a CPA in the United States, you need to fulfill the “Three Es” requirements: Education, Examination, and Experience. This chapter focuses on the second step, the Uniform CPA Examination. We discuss in length the educational and experience requirements in the next chapter.
Here are frequently asked questions on the coverage, format, and passing rate of the CPA exam.
What Does the Uniform CPA Exam Cover?
The exam is comprehensive, covering all accounting concepts and applications in financial accounting and auditing, together with related fields such as economics, business law, business ethics, internal control, financial management, risk management, information systems, regulations, and taxation.
There are four sections in the exam:
We review the topics and study tips for each session in later chapters.
What Is the Exam Format?
The CPA exam is fully computerized. For FAR, AUD, and REG, the section consists of:
Multiple-choice questions are graded positively in this exam. In other words, there is no penalty for incorrect ...