subject: Cpa Exam Sample Questions To Prepare You For Challenging Tests! [print this page] The AICPA made numerous Content Specification Outline changes to prepare for some fairly big changes to the 2011 CPA Examinations. These changes were directed in order to align the tasks assigned to newly minted CPAs with just a few years of experience under their belt. The new exam should help applicants be ready for their future jobs while helping industry receive better employees. This creates a win-win situation for all.
The CPA exam currently totals 14 hours split out over four tests. The only changes in the timeframes are that Auditing will be reduced by 30 minutes to a four hour test and Business Environment and Concepts will be increased by 30 minutes to three hours. Financial Reporting and Regulation will be kept at their current times.
Instead of the current combinations of multiple choice and simulations, the exam will change to include "simlets." These are shorter practical exercises that are designed to cover more topics without devoting a significant portion of the exam to the full simulations.
International topics, including the accounting standards, ethics standards, and auditing and assurance standards will be added. This aligns with current trend of moving more towards an international framework of accounting altogether. Not only will applicants need to understand the international frameworks, but they will need to be able to discern the differences between the existing United States standards as well.
Applicants will still need to pass all four sections within an eighteen month window starting on the date that the first exam was passed. Additionally, the exams will still be offered for two out of three months each quarter. This will help to accelerate the score notifications and minimize the extremely stressful wait times. The AICPA is exploring ways to speed up the exam score releases, which will certainly benefit everyone involved.
Virtually every successful applicant reviews the exam material before taking the tests, and there are many CPA exam review sites out there. But before you spend money on these, take a look at the many free resources available to prospective accountants.
