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%)

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

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

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

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

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

Reporting and Forming Conclusions (15 to 25%)

Reporting on compliance
Reports on auditing engagements
Other reporting considerations
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%)

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

Business Law (10 to 20%)

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

Federal Taxation of Property Transactions (12 to 22%)

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

Federal Taxation of Individuals (15 to 25%)

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

Federal Taxation of Entities (28 to 38%)

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

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

Select Financial Statement Accounts (30 to 40%)

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

Select Transactions (20 to 30%)

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

State and Local Governments (5 to 15%)

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

4. Business Environment and Concepts (BEC)

Objectives covered by this section:

Corporate Governance (17 to 27%)

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

Economic Concepts and Analysis (17 to 27%)

Financial risk management
Market influences on business
Economic business cycles

Financial Management (11 to 21%)

Capital structure
Financial valuation methods
Working capital

Information Technology (15 to 25%)

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

Operations Management (15 to 25%)

Cost accounting
Planning techniques
Process management
Performance management

How to study the Certified Public Accountant (CPA) Exam

In order to study for the Certified Public Accountant (CPA) Exam, use the exam blueprints and study resources by accessing the links at the bottom of this document. Use the material on the internet to learn all the exam contents in detail and then take the practice sample tests through the AICPA website. The “Help” button on each sample test provides a link to tutorial topics that can be further used to gain more in-depth knowledge. Students are highly encouraged to join AICPA's Certification community where they can join students from all over the world and learn together. CPA exam dumps are highly recommended for candidates as they are the best study materials. For further exam self-study materials, refer to the links down below.

As always, We recommend a combination of hands-on experience, completion of the training course, and self-study in the areas described in the Exam Outline section of this exam guide as preparation for this exam. After all sorts of study, test your understanding by taking the CPA practice exams. Hover on to AICPA's Website and take a look at study materials provided for the exam. Check for the topics mentioned in the Exam Outline section of this guide to review the online documentation, tip sheets, and user guides and study the details relevant to those topics. Refer to the links at the end of this document for more study material.

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Certified Public Accountant (CPA) Exam Certification Path

The certification path for the Certified Public Accountant (CPA) Exam consists of this Uniform CPA Examination with 4 sections that can be taken separately as in one section per test window or all sections at once. After clearing these 4 sections, an ethics exam must also be cleared before your license could be processed.