Changes To The Cpa Exam In January 2011
AICPA has announced numerous changes to the content
, structure, and format of the CPA Exam which will be given on or after January 1, 2011. These changes include:
1.Replacing the one long simulation in the current format with several short Task-Based Simulations (TBS) in Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), and Regulation (REG); 2.Deleting the testing of written communication from AUD, FAR, and REG; 3.Adding the testing of written communication to the Business Environment and Concepts (BEC) section; 4.Deleting 18 Multiple Choice Questions (MCQ) from BEC and REG; 5.Reducing the weight of MCQ in AUD, FAR, and REG by 10%; 6.Reducing the weight of MCQ in BEC by 15%; 7.Doubling the simulations in AUD, FAR, and REG; 8.Changing Content and Skill Specification Outlines (CSOs/SSOs); 9.Adding testing content on IFRS; 10.Deleting some of the testing content on IT; 11.Adding testing content on project management.
It was previously decided to add planned authoritative literature release and to introduce a new research task format into the CBT-e schedule.
AICPA has announced numerous changes to the content, structure, and format of the CPA Exam which will be given on or after January 1, 2011. These changes include:
Time Allotment Changes:
A shift between two sections occurred but it will not effect the total time to complete all four sections. While BEC will gain 30 minutes for its allotted time, AUD will decrease by 30 minutes. Total testing time for all four sections will remain at 14 hours.
AICPA allows 14 hours to complete the exams for all four sections: *Auditing and Attestation: 4.5 hours *Financial Accounting and Reporting: 4 hours *Regulation: 3 hours *Business Environment and Concepts: 2.5 hours. In 2011, the time allotments will change: *Auditing and Attestation: 4 hours (minus 30 minutes from 2010.) *Financial Accounting and Reporting: 4 hours *Regulation: 3 hours *Business Environment and Concepts: 3.0 hours (adds 30 min.) If you complete an exam is less time than allotted, you are not allowed to move those minutes to another test. For instance, if it only takes you 4 hours to complete AUD, you may NOT move your 30 minutes to BEC.
How Questions Will Be Weighted and Scored?
New scoring has been approved as follows for multiple-choice questions (MCQs), Task-Based Simulations (TBS) and written communication tasks:
PartQuestions20102011 BECMCQs100%85% SimulationsN/AN/A Written Comm. N/A15%
AUD/FAR/REGMCQs70%60% Simulations20%40% Written Comm.10%N/A
Simulations are condensed case studies about which you are asked specific questions which showcase how you would apply your skill set to solve a "real-life" situation. Your answers allow you to demonstrate your writing skills because about 30% of your score in 2010 depends on your ability to write out your answers, not simply select option a, b, c or d.
BEC has no simulations, either in 2010 or 2011.
For AUD, FAR and REG, simulations double from 20% of your score in 2010 to 40% of your score in 2011.
In 2010, about 1/3 of your simulation score is based on your writing ability.
Current and 2011 Structure of the CPA Exam
Auditing and Attestation (AUD) Current StructureCBT-e Structure *3 Multiple Choice QuestionRemains the same (MCQs) testlets with 30 questions each (total: 90) *2 Simulations in long format1 Testlet with 7 short TBS with a research question in new format *2 written communication tasks None required Current Testing Time: 4.5 hours CBT-e Testing Time: 4 hours
Business Environment and Concepts (BEC) Current StructureCBT-e Structure *3 Multiple Choice Question3 Multiple Choice Question (MCQs) testlets with 30testlets with 72 questions total questions each (total: 90) 3 Written Communication tasks on BEC topics Current Testing Time: 2.5 hoursCBT-e Testing Time: 3 hours
Financial Accounting and Reporting (FAR) Current StructureCBT-e Structure *3 Multiple Choice QuestionRemains the same (MCQs) testlets with 30 questions each (total: 90) *2 Simulations in long format1 Testlet with 7 short TBS with a research question in new format *2 written communication tasksNone required Current Testing Time: 4 hoursCBT-e Testing Time: 4 hours
Regulation (REG)
*3 Multiple Choice Question3 Multiple Choice Question (MCQs) testlets with 30(MCQs) testlets with 72 questions each (total: 90)questions total *2 Simulations in long format1 Testlet with 6 short TBS with a research question in new format *2 written communication tasksNone required Current Testing Time: 4 hoursCBT-e Testing Time: 4 hours
Changes in Question Distribution (Weight):
Auditing and Attestation (AUD) Financial Accounting and Reporting (FAR) Regulation (REG)
Type of QuestionCurrent WeightCBT-e Weight
Multiple-Choice Question70%60% Simulations20%40% Written Communications10% 0%
Business Environment and Concepts (BEC)
Type of QuestionCurrent WeightCBT-e Weight
Multiple-Choice Question100%85% Simulations 0% 0% Written Communications 0%15%
The greatest amount of accurate information is from the AICPA itself. For the letter from AICPA detailing the changes, click here:
The letter explores the changes to the structure and the content of the 2011 CPA Exam.
During 2010, a team at AICPA has been creating and testing new questions which will appear on the 2011 exam. For this reason, you may see a question which you have not studied. Don't panic. In 2010, those new questions will not be added into your score or detract from your score. The writers are testing to see which questions cover the scope of the material and give an accurate picture of whether or not you have mastered the material.
In 2011, these new questions will be graded and will count, either for or against your score.
As an accountant, the career track which progresses upward at a faster rate is labeled "CPA."
In many firms, you hit the ceiling and progress no further if you do not become a CPA. Progressing from being an accountant to becoming a CPA offers greater opportunities for promotion to management and higher salaries.
Here are three examples of career paths for an accountant and for a CPA with the same education and experience:
Scenario 1: Two people in the same situation Location: Austin, Texas Graduates of/Degree: University of Texas, BA Employer: Public Accounting in Austin Size of firm: 50 Years of work experience: 2 On average, the CPA makes $10,000 more per year than the accountant.
Scenario 2: Two people in the same situation Location: Los Angeles, CA Graduates of/Degree: UCLA, BA Employer: Public Accounting in Westwood, a suburb of Los Angeles, CA Size of firm: 50 Years of work experience: 5 On average, the CPA makes $18,000 more per year than the accountant.
Scenario 3: Two people in the same situation Location: Boston, MA Graduates of/Degree: Harvard, BA Employer: Public Accounting in Boston Managing a team of: 25 Years of work experience: 15 On average, the CPA makes $25,000 more per year than the accountant.
Difference between top salary for CPA and for accountant: $45,000+.
Each of the 54 jurisdictions (including US states and territories) which offers the CPA Exam has its own qualifications for sitting for the exam. In California, the requirements are: *A bachelor's degree; *24 semester units in accounting-related subjects; *24 semester units in business-related subjects; *150 semester units (or 225 quarter units) of education; *Passing the Uniform CPA Exam; *One year of general accounting experience supervised by a CPA with an active license; and *Passing an ethics course.- *How do you become a CPA? While you could buy books and study on your own, but you'd be missing several key learning modules featured in CPAexcel, a CPA Exam review course.
by: Eric Anderson.
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