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Changes to the Content and Format of the Cpa Exam

In: Business and Management

Submitted By olivesecret
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2011changes to the content and format of the CPA exam
We are going to cover the changes to the content and format of the CPA exam in 2011. Starting January 1, 2011, there are a lot of changes about the content and format of the CPA exam. Now we are going to look at some major content changes for the four parts of the CPA exam----FAR (Financial Accounting and Reporting), AUD (Auditing and Attestation), REG (Regulation) and BEC (Business Environment and Concepts). For FAR, the most notable is the testing of IFRS, the International Financial Reporting Standards. Candidates must know about the differences between GAAP and IFRS. AUD adds professional responsibilities, which contain ethics and independence testing that is previously in REG. REG adds business structure topics, which is previously in BEC. BEC adds corporate governance topic and redefines information systems topic.
In addition to the content changes, the format of the CPA exam has been changed as well. To begin with, the timing of the exam has been changed. Not the overall time, which is still 14 hours total, but the time allocation to AUD part and BEC part. For purpose of more time to complete the new communication tasks, four and a half hours in AUD part has been down to four hours, and two and a half hours in BEC part has increased to three hours. The time for both FAR and REG remains the same, which are four hours and three hours respectively. Now let’s take a look at how it changes for each part of the exam in detail. In 2010, the FAR, AUD and REG all have three testlets of multiple-choice questions, which comprise 70 points of your exam. Then the other two testlets are called simulation, 30 points in total, of which 10 points test your written communication skills. While a lot of changes show in the new format. Starting January 1, 2011, there are still three testlets of multiple-choice questions, but...

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