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Examination Content

Examination Content. The Examination. Four exam sections Auditing & Attestation (4.5 hours) Financial Accounting & Reporting (4 hours) Regulation (3 hours) Business Environment & Concepts (2.5 hours) 14 hour total length. Auditing & Attestation. Auditing Procedures

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Examination Content

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  1. Examination Content

  2. The Examination • Four exam sections • Auditing & Attestation (4.5 hours) • Financial Accounting & Reporting (4 hours) • Regulation (3 hours) • Business Environment & Concepts (2.5 hours) • 14 hour total length

  3. Auditing & Attestation • Auditing Procedures • Generally Accepted Auditing Standards • Other Standards Related to Attest Engagements • Skills Needed to Apply That Knowledge

  4. Financial Accounting & Reporting • Generally Accepted Accounting Principles for: • business enterprises • not-for-profit organizations • government entities • Skills Needed to Apply That Knowledge

  5. Regulation • Federal Taxation • Ethics • Professional and Legal Responsibilities • Business Law • Skills Needed to Apply That Knowledge.

  6. Business Environment & Concepts • Business Structures • Economic Concepts • Financial Management • Information Technology • Planning and Measurement

  7. Paper-Pencil Based Auditing 100% Financial Accounting & Reporting Business Enterprises 100% Accounting & Reporting Taxation 60% Gov/NPO 30% Managerial Acct 10% LPR Business Structures 20% Other 80% Computer Based Audit & Attest 100% Financial Accounting & Reporting Business Enterprises 80% Governmental 10% Not-For-Profits 10% Regulation Taxation 60% Law & Professional Responsibilities 40% Business Environment Business Structures 20% Managerial Accounting 10% New Areas 70% Exam Content Differences

  8. Transitioning

  9. Transitioning from Paper & Pencil • Most states adopted the Conditioning & Transitioning standards model. • Same amount of time, or number of opportunities, as you would have had under paper & pencil (P&P) exam. • Example: If a P&P candidate has 2 years and 4 opportunities remaining, both will transition to the computerized exam. • Contact your state board to confirm.

  10. Advice for Transition Candidates • Determine your completion strategy • based on time / number of attempts remaining • Contact state board if you have not received a notice with requirements to complete • Don’t delay - missed testing opportunities/time cannot be recouped.

  11. Helpful Hints • Some review courses suggest the following order: • Audit & Attest • Financial Accounting & Reporting • Regulation • Business Environment & Concepts • Schedule & study for 2 sections at a time • Take 2 sections in each of the first 2 testing windows - pass all sections in 6 months

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