A CPA is a trusted financial advisor who helps individuals,
businesses, and other organizations plan and reach their financial goals All
CPAs are accountants, but not all accountants are CPAs.
3 E’s are required for licensure:
Education
Exam or Uniform CPA Examination
Experience
State Boards of Accountancy determine the laws and rules for
each state/jurisdiction
Education
Requirements vary by state/jurisdiction (see state
requirements)
Most states now require 120-150 semester hours
Number of accounting hours (in the 150 total) is dependent
on state requirements
Uniform CPA Examination
Computer-based format
Consists of 4 sections
Auditing and Attestation (AUD)
Business Environment
and Concepts (BEC)
Financial Accounting
and Reporting (FAR)
Regulation (REG)
Same test no matter
where it is taken
Passing score is 75 on a 0-99 scale
Question types include multiple choice, simulation and
written communication
Eligibility to sit for exam depends on stat
Examination Center
Prometric centers in UAE, Kuwait, Bahrain, Lebanon, Japan
& Brazil subject to conditions.
Exam Format
Subjects New
CBTe
Ex M T
Paper 1 : Auditing & Attestation 4 3 1
Paper 2 : Financial Accounting & Reporting 4 3 1
Paper 3 : Regulation (Law & Tax) 3 3 1
Paper 4 : Business Environment & Concepts 3 3
MCQ – Multiple Choice
Questions
TBS – Task Based Simulation
WCT – Written Communication Task
Experience
A candidate is an applicant for a CPA license
Many states require the candidate to have 1 – 2 years’
experience under a CPA
Additional requirements vary by the candidate’s
Education – e.g., Graduate degree vs. 150 hours of
undergraduate
Employer(s) – e.g., Public accounting firm vs. industry
Type of work – e.g., Tax professional vs. auditor
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