The curriculum and structure of the US CPA Exam are widely recognized for their breadth and depth of concepts. The test also ensures that a candidate is thorough with the concepts required for an accounting professional to work in real-life complex scenarios. The curriculum of CPA is spread across 4 subjects. These subjects also classify US CPA into four exams that are:
Auditing and Attestation (AUD)
This part of the US CPA exam covers the concepts and skills related to auditing, including planning, internal controls, and conducting an audit. The test format is made up of multiple-choice questions and task-based simulations.
Syllabus (includes weightage)
- Engagement Acceptance & understanding the environment (12-16%)
- Understanding the entity and its environment (16-20%)
- Performing Audit procedures & evaluating evidence (16-20%)
- Evaluating Audit findings, communications & reporting (16-20%)
- Accounting & review services engagement (12-16%)
- Professional responsibilities (16-20%)
Duration
4-hour Exam
Question Pattern
72 multiple-choice questions (50% Weightage) & 9 short task-based simulations (50% Weightage)
Business Environment and Concepts (BEC)
This part of the US CPA exam covers the concepts and skills related to the business environment, including financial management, information technology and economics. The test format is made up of multiple-choice questions, task-based simulations and written communication tasks.
Syllabus (includes weightage)
- Corporate Governance (16% – 20%)
- Economic Concepts and Analysis (16% – 20%)
- Financial Management (19% – 23%)
- Information Systems and Communications (15% – 19%)
- Strategic Planning (10% – 14%)
- Operations Management (12% – 16%)
Duration
4-hour Exam
Question Pattern
62 multiple choice questions (50% Weightage) & 5 short task-based simulations (35% Weightage), written communication (15% Weightage)
Financial Accounting and Reporting (FAR)
This part of the US CPA exam covers the concepts and skills related to financial accounting and reporting, including financial statements, accounting standards and financial instruments. The exam format is made up of multiple-choice questions and task-based simulations.
Syllabus (includes weightage)
- Conceptual Framework, Standard Setting & Presentation of Financial Statements (17-23%)
- Financial Statement Accounts (27-33%)
- Specific Transactions, Events and Disclosures (27% – 33%)
- Governmental Accounting and Reporting (8% – 12%)
- Not-for-Profit (Nongovernmental) Accounting and Reporting (8%-12%)
Duration
4-hour Exam
Question Pattern
66 multiple-choice questions (50% Weightage) & 9 short task-based simulations (50% Weightage)
Regulation (REG)
This part of the US CPA exam covers the concepts and skills related to regulation, including ethics, professional responsibilities, and federal tax procedures. The exam format is made up of multiple-choice questions and task-based simulations.
Syllabus (includes weightage)
- Ethics, Professional, and Legal Responsibilities (15% -19%)
- Business Law (17% – 21%)
- Federal Tax Process, Procedures, Accounting & Planning (11% – 15%)
- Evaluating Audit findings, communications & reporting (16-20%)
- Federal Taxation of Property Transactions (12% – 16%)
- Federal Taxation of Individuals (13% – 19%)
- Federal Taxation of Entities (18% – 24%)
Duration
4-hour Exam
Question Pattern
76 multiple-choice questions (50% Weightage) & 9 short task-based simulations (50% Weightage)
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