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The CPA Exam is comprised of four different parts and the require an indebt knowledge of the subject matter as follows:
Auditing: Tests knowledge of generally accepted auditing standards and procedures and related topics. (4 ˝ hours)
Business Law & Professional Responsibilities:
Tests knowledge of business law especially relating to accounting and auditing, and knowledge of the CPA’s professional responsibilities to the public and the profession. (3 hours)
Accounting & Reporting: Includes taxation, managerial and governmental accounting, and not-for-profits. (3 ˝ hours)
Financial Accounting & Reporting – Business Enterprises:
Tests knowledge of accounting principles relating to business enterprises. (4 ˝ hours)
Study tips for the Exam:
If you want to pass, you MUST be committed to do so. Set up a study schedule and stick to it. Begin to study early. Prepare a calendar at least three months before the exam date with daily study time, work time and leisure time.
Sit for the exam as soon as possible after becoming eligible. Know the minimum scores required for passing and study to achieve at least that much.
There is nothing extremely difficult on the exam. There is just a lot to study. Study at least one solid hour per day and at least three eight-hour comprehensive days prior to the exam.
While studying, read answers to essay questions in the study guides. Study the content and format of the answers. Use review books, computerized review materials, and take a review course if it is not cost prohibitive.
Do as many multiple choice questions as you can get your hands on. Grade your multiple choice by section and do your poorest sections over again and again. Time yourself on multiple choice to get your speed up. This will help you be able to finish each section of the CPA exam.
Use buzz words in your essays and write as much as you can about the subject. Assume nothing. Write it down. What you don't put on paper will not be graded.
If you have to travel some distance to the exam site, leave early, possibly staying overnight. Get a good night's sleep before the exam. Eat a good breakfast each morning of the exam.
Do not let 'war stories' of others disturb you. Bad experiences are usually the result of poor preparation. Be prepared. Be confident and positive in your attitude.
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