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Certified Public Accountant consists of four-part, 16-hour CPA Exam is a masters-level professional certification. Candidates are supposed to pass all four-part assessment with in time frame of 18 months in order to qualify for a CPA license.
The four parts are
This exam is designed to test the minimum knowledge and skills required of a CPA. The Exam is managed by three main partners:
Before taking this exam, candidates should have a solid knowledge of the topics outlined in this preparation guide.
The Certified Business Manager (CPA) is a global, competency-based credential that is designed to validate the skills and knowledge of accountancy candidate who can operates at a global market.
After passing this exam, candidates get a certificate from AICPA that helps them to demonstrate their proficiency in managing Business to their clients and employers.
Reference: http://www.aicpa.org/BecomeACPA/CPAExam/ForCandidates/FAQ/Pages/computer_faqs_2.aspx
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| Section | Weight | Objectives |
|---|---|---|
| Federal Taxation of Entities | 15–25% | - C corporations taxation - S corporations - Partnerships - Estate and trust taxation basics |
| Business Law | 20–30% | - Business structure and regulation - Agency - Contracts - Commercial transactions (UCC) |
| Ethics, Professional Responsibilities and Federal Tax Procedures | 15–25% | - Ethical and professional responsibilities - Federal tax procedures |
| Federal Taxation of Property Transactions | 5–15% | - Basis calculations - Property disposition and recognition of gain/loss |
| Federal Taxation of Individuals | 15–25% | - Individual tax computations - Deductions and credits - Gross income inclusions and exclusions |
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