Becoming a CPA is a very distinguished designation. And a lucrative one. So make sure you prepare properly to take the CPA exam.
In the US, CPA licensure rules vary per state, but one of the major requirements to acquire a license is to take the exam that is also known as Uniform CPA Examination. And if you are not confident that you have enough knowledge to pass the exams, there are a number of review courses to help you pass the exam. The US CPA Licensure Exam is not only open for US residents. There are States that allow non-residents to take the exam as long as he/she is qualified according to the Board of Accountancy standards.
The CPA exam is split into 4 sections:
- Auditing & Attestation (AUD) – time given to finish this is 4 hours
- Financial Accounting and Reporting (FAR) – takes about 4 hours to finish
- Regulation (REG) – takes around 3 hours
- Business Environment and Concepts (BEC) – takes 3 hours to finish
The exam contents are similar to any other exam given in schools with multiple choice questions comprising a majority of it, around 70%. There are also simulations that need to be answered, encompassing about 30% of the exam. This is based on previous exam formats and may still change for future exams.
If you wish to get further information on how the exam is given as well as have sample questions to base your reviews on, the American Institute of Certified Public Accountants’ official website provides a sample questionnaire that can be downloaded into your PC. You will also find a lot of information about CPA exams in their website, as well as contact information if you have any further questions about the exam. You may also need to review the tutorials section as this contains important information on how the real exams would go, as well as give you directions and sample tests to respond to as practice sessions.
Being a certified public accountant is a great career move!
But this can only be made possible once you have completed all the requirements for obtaining a license, that not only includes taking and passing the Uniform CPA Exams. You will also need to have enough work experience as an accountant and be able to prove that work is within a regular office setting that requires 35-40 work hours rendered each week.
So if you want to become a CPA, prepare well for the test. Only about 50% of the people taking the exam pass it. With most study courses, that figure improves to well above 75%. So invest in yourself, not just as a CPA, but in preparation for the exam.