CPA Audit & Insurance : AA

Topics of Certified Public Accountant (CPA) Exam

The CPA Exam test consists of four, four-hour sections. You must clear all four sections within 18 months with a minimum score of 75 on each part. The core topics for each of the four sections are listed below. These contents are likely to be used for the examination. However, on any particular delivery of the test, other similar topics could also appear.

It is recommended that, where possible, the applicant uses these contents and/or other resources to provide background information on the exam objectives. The syllabus for the Certified Public Accountant (CPA) Exam is listed below with detail of each section and their topics:

1. Auditing and Attestation (AUD)

Objectives covered by this section:

Developing a Planned Response & Assessing Risk (20 to 30%)

• Materiality
• Entity's internal control
• Assessing and identifying the risk of material misstatement
• Planning an engagement
• Debtor-creditor relationships
• Specific areas of engagement risk

Professional Responsibilities, Ethics & General Principles (15 to 25%)

• Nature and scope
• Engagement documentation
• Ethics and professional conduct
• A firm's system of quality control
• Communication with management
• Communication with component auditors

Obtaining Evidence & Performing Further Procedures (30 to 40%)

• Written representation
• Performing specific procedures to get evidence
• Sampling techniques
• Internal control deficiencies and misstatements
• Subsequent events
• Acquisition and disposition of assets

Reporting and Forming Conclusions (15 to 25%)

• Other reporting considerations
• Reporting on compliance
• Reports on auditing engagements
• Reports on attestation engagements
• Review service engagements

2. Regulation (REG)

Objectives covered by this section:

Federal Tax Procedures, Professional Responsibilities, and Ethics (10 to 20%)

• Federal tax procedures
• Responsibilities in tax practice
• Licensing and disciplinary systems
• Legal duties

Business Law (10 to 20%)

• Agency
• Government regulation of business
• Business structure
• Debtor-creditor relationships
• Contracts

Federal Taxation of Property Transactions (12 to 22%)

• Cost recovery
• Estate and gift taxation
• Gift tax deductions
• Gift tax annual exclusion
• Acquisition and disposition of assets
• Determination of taxable estate

Federal Taxation of Individuals (15 to 25%)

• Filing status
• Passive activity losses
• Computation of tax and credits
• Computation of tax and credits
• Alternative Minimum Tax
• Gross income
• Reporting items from pass-through entities

Federal Taxation of Entities (28 to 38%)

• Liquidation of business entities & tax treatment of formation
• Trusts and estates
• Partnerships
• S corporations
• Tax-exempt organizations
• C corporations
• Limited liability companies

3. Financial Accounting and Reporting (FAR)

Objectives covered by this section:

Standard-Setting, Conceptual Framework, and Financial Reporting (25 to 35%)

• Standard setting for non-business entities
• Public company reporting topics
• Conceptual framework
• Special purpose framework
• General-purpose financial statements
• Standard setting and conceptual framework for nonbusiness entities

Select Financial Statement Accounts (30 to 40%)

• Cash and cash equivalents
• Intangible assets
• Long-term debt
• Investments
• Property, plant, and equipment
• Compensation benefits
• Income taxes
• Inventory

Select Transactions (20 to 30%)

• Differences between IFRS and U.S. GAAP
• Research and development costs
• Contingencies and commitments
• Derivatives and hedge accounting
• Subsequent events
• Accounting changes and error corrections
• Nonreciprocal transfers
• Software costs
• Fair value measurements
• Foreign currency transaction and translation
• Leases
• Business combinations

State and Local Governments (5 to 15%)

• Comprehensive Annual Financial Report (CAFR)
• Government-wide financial statements
• State and local government concepts
• Specific types of transactions and events: calculation, measurement, presentation in a governmental entity, and valuation

4. Business Environment and Concepts (BEC)

Objectives covered by this section:

Corporate Governance (17 to 27%)

• Internal control frameworks
• Regulatory frameworks and provisions
• ERM (Enterprise Risk Management) frameworks

Economic Concepts and Analysis (17 to 27%)

• Financial risk management
• Economic business cycles
• Market influences on business

Financial Management (11 to 21%)

• Capital structure
• Working capital
• Financial valuation methods

Information Technology (15 to 25%)

• Role of information technology business
• Processing integrity
• Information security/availability
• IT governance
• Systems development of maintenance

Operations Management (15 to 25%)

• Cost accounting
• Planning techniques
• Performance management
• Process management

Who should take the Certified Public Accountant (CPA) Exam

To have a CPA designation, many businesses prefer their accountants. Applicants winning their CPA title will find themselves more hirable and will be better paid. People who wish to become business accountants and explore its dynamic culture to jump-start their certification and lifelong learning goals should take this exam. To become eligible for the exam, a candidate must have completed a 120 program approved by NYSED. As a non-official prerequisite, candidates must have studied the CPA exam dumps. Also, they must have completed their bachelor's degree with accounting as their major.

How to Prepare For Certified Public Accountant (CPA) Exam

Preparation Guide for Certified Public Accountant (CPA) Exam

Introduction

For practitioners aspiring to become CPAs, the Standardized Certified Public Accountant test is a credentialing exam. The CPA exam tests are graded and governed by the American Institute of Certified Public Accountants (AICPA) and by the National Association of State Accountancy Boards (NASBA).

The American Institute of Certified Public Accountants (AICPA) is the United States' national professional association of Certified Public Accountants (CPAs), with more than 418,000 members in business and industry, public practice, government, education, student affiliates, and foreign associates in 143 countries. Established in 1887, the association sets ethical guidelines for audits of private businesses, non-profit organizations, federal, state, and local governments for the profession and U.S. auditing standards. It also establishes the Standardized CPA Test and rates it. The AICPA has offices in New York City; Durham, NC; Washington DC; and Ewing, NJ.

This exam guide is intended to get you to know about the exam details and help you to prepare for the Certified Public Accountant (CPA) Exam successfully. This guide includes information on the certification test target audience, recommended preparation and documentation, and a full list of exam targets, all to help you obtain a passing grade. To increase your chances of passing the test, AICPA strongly recommends a mix of on-the-job experience, a study of CPA exam dumps, course attendance, and self-study.

Many candidates may search Audit & Insurance test questions and dumps or AA exam cram on the internet if it is actually urgent thing for you to sail through the examination. If you still feel annoying about this question you can consider our Test4Cram AA test questions and dumps which help more than 100000+ candidates pass CPA Audit & Insurance exam every year. Many candidates choose us as their trustworthy helper to help them gain the Certified Public Accountant.

Test4Cram is very powerful company which was established so many years and gained a lot of good comments about Audit & Insurance test questions and dumps in this field. Based on our outstanding high passing-rate of our Audit & Insurance exam cram we have many old customers and long-term enterprise relationship so that we are becoming larger and larger. Next I talk about our advantages why Audit & Insurance test questions and dumps are useful for candidates.

Firstly, many candidates feel headache about preparation for CPA AA exam, they complain that they do not have enough time to prepare. Our AA test questions and dumps can help you solve this problem. It will only take 12-30 hours to practice our cram sheet before the real test exam if you purchase our Audit & Insurance test questions and dumps & Audit & Insurance exam cram. Yes, with us, only one day's preparation, you can go through the examination.

Secondly, our products are simple to use. After you purchasing our AA test questions and dumps we will send you by email in a minute. So please make sure you fill the email address rightly so that you can receive our AA test questions and dumps soon. If you purchase the PDF version of Audit & Insurance exam cram you can download and print out for practice. If you purchase the SOFT & APP on-line version of Audit & Insurance test online, you can installed and then operate it. If you have any question about Audit & Insurance test questions and dumps in use, you can email us, we will reply and solve with you soon.

Thirdly, our passing rate of Audit & Insurance test questions and dumps is high up to 96.59%. Every year we help thousands of candidates sail through the examination. If you purchase our Audit & Insurance test questions and dumps and then study & practice carefully, you will 100% pass the test exam. Only dozens dollars, you can pass the exam with our Audit & Insurance test questions and dumps exactly. If you fail the exam, you should pay twice or more Audit & Insurance test cost which may be hundreds dollars or thousands of dollars. So our Audit & Insurance test questions and dumps are really worthy buying.

Fourthly, we are not only offering high-quality and high-passing-rate Audit & Insurance test questions and dumps & AA exam cram but also our sales service is excellent.

1. We have experienced service staff working on-line 7*24, even on official big holidays. No matter when you have questions or problem about our AA test questions and dumps, we will be pleased to reply and solve with you in three hours.

2. If you purchased the wrong exam code of Audit & Insurance test questions and dumps we can replace the right for you free of charge.

3. If you fail the exam with our Audit & Insurance test questions and dumps unluckily, we will refund to you soon if you write email to us.

4. If you purchased our Audit & Insurance test questions and dumps before, and want to purchase other exam cram sheet we will give you discount.

5. We have one-year service for every customer who purchases our AA test questions and dumps. Once the Audit & Insurance have update version we will send you asap.

In the end, trust me, our Audit & Insurance test questions and dumps & Audit & Insurance exam cram will be the best helper for your CPA AA exam. We guarantee you success!

CPA AA Exam Syllabus Topics: