Best 10 Tips to Prepare for CPA Exams in 2022

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Best 10 Tips to Prepare for CPA Exams in 2022

CPA Exams – 10 Tips to Prepare

The CPA exam is a rigorous test of your knowledge and skills. It requires many hours of study and preparation, but the payoff is well worth it. Passing the exam is a major achievement that opens doors to many new career opportunities.

How long it takes to complete the CPA exam largely depends on your own schedule and motivation. Some candidates finish all four sections in a year or less, while others take multiple years to complete the entire process.

The time you need can also vary greatly depending on your test taking strategy and how much time you are able to spend studying each week. By understanding what you’re getting into, you can make a plan for how to approach each section of the exam.

Have you ever thought of a career in accounting?

If so, you’re undoubtedly aware that earning your CPA license is a vital step toward landing that high-paying job.

But how long does it take to complete the CPA Exam? 

Well, it depends on your state’s requirements and how quickly you can complete each section of the exam.

In this article, we’ll cover everything you need to know about the timeline for completing the CPA Exam and becoming a licensed accountant.

If you are interested in becoming a Certified Public Accountant, you will have to pass the Uniform CPA Examination (CPA Exam), a test that has been around since the early part of the 20th century. This exam ensures that anyone who becomes a CPA meets certain standards and is capable of practicing accounting in the United States.

While the first step in becoming a CPA is passing the four-part exam, there are other requirements one must meet as well. Each state has its own rules and regulations regarding CPA licensure. In order to be eligible to sit for the exam, candidates must fulfill both their state’s education and experience requirements.

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CPA Exam Requirements

Most states have similar eligibility requirements for sitting for the CPA Exam. 

Generally, you’ll need to:

  • Hold a bachelor’s degree from an accredited institution (150 semester hours)
  • Meet educational requirements in accounting and business (30 semester hours) or obtain a master’s degree in accounting or business (24 semester hours)
  • Complete two years of Public Accounting experience (varies by state)

CPA Exam Eligibility

The first step in becoming a CPA is determining if you’re eligible to sit for the exam. Each state Board of Accountancy sets its own requirements for CPA candidates, but most states require that you have at least 150 academic credits and 2 year of accounting experience, as well as other professional experience or college coursework.

To check the requirements in your state, visit the National Association of State Boards of Accountancy (NASBA) website and click on the link to your state board.

Preparing for the CPA Exam

Once you’ve determined that you meet the eligibility requirements, decide which sections you want to take first and what type of study materials will work best for you. You can choose from live classes, online courses or self-study materials. Major number of candidates choose to study with the help of a coaching institute as it saves the time for understanding concepts on their own.

CPA Exams Structure

The CPA Exam is composed of four, four-hour sections: 

Auditing and Attestation (AUD) 

Designed to test your knowledge and skills in auditing procedures, generally accepted auditing standards and other standards related to attest engagements, as well as your understanding of concepts and professional responsibilities in relation to attestation engagements.

Financial Accounting and Reporting (FAR) 

Tests your knowledge and skills in accounting for business combinations and consolidations; the equity method; partnerships; corporations; nongovernmental entities; local government entities; state and local government pension plans; governmental accounting research tools; fiduciary accounting; investment companies; not-for-profit organizations, employee benefit plans and international financial reporting standards.

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Regulation (REG) 

Designed to test your knowledge of ethics, professional responsibilities, federal taxation, federal tax laws governing property transactions, estates, trusts, gifts and income taxation of individuals.

Business Environment Concepts (BEC)

The Business Environment Concepts (BEC) section of the Certified Public Accountant (CPA) exam covers many important business topics, such as corporate governance, ethics and business law. The BEC is one of four sections that make up the Uniform CPA Examination. All four sections must be passed in order to obtain a license to practice public accounting.

The BEC covers many topics related to Business and Accounting. As such, you’ll need to have knowledge of a wide range of concepts in order to pass this portion of the CPA exam. 

The following are just a few examples of the many topics covered on the BEC:

  • Accounting information systems
  • Business law
  • Corporate governance
  • Cost management and performance evaluation
  • Economic concepts and analysis
  • Ethics in accounting and business
  • Financial management strategies
  • Internal controls for financial reporting
  • Management decision-making tools

Each exam section consists of multiple-choice questions (MCQs) and task-based simulations (TBS). The number of MCQs and TBS vary by section.

The format for each section is as follows:

  • Auditing and Attestation: 72 MCQs, 8 TBS
  • Business Environment and Concepts: 62 MCQs, 3 written communications tasks (WCT)
  • Financial Accounting & Reporting: 66 MCQs, 8 TBS
  • Regulation: 76 MCQs, 6 TBS

CPA Exams Hours

The CPA Exam is a computer-based exam administered at Prometric test centers. 

Each section of the CPA Exams is a four-hour exam:

  • Auditing and Attestation (AUD) – 4 hours
  • Business Environment and Concepts (BEC) – 4 hours
  • Financial Accounting and Reporting (FAR) – 4 hours
  • Regulation (REG) – 4 hours

For a more detailed description of the test structure, including the time allowed for each section of the exam as well as the number of questions you can expect from each testlet, please refer to the blueprints provided by the AICPA.

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Why choose NorthStar Academy for a US CPA course?

NorthStar Academy provides the tools to achieve your goal and excel in the US CPA program. Highly responsible, motivated, and accessible mentor is  available to answer questions and clear doubts associated with the lectures or coursework, a unique curriculum that includes self-paced learning, test evaluations, practical assignments and evaluation and upto licensing. 

FAQs

1. How many times can you take the CPA Exam?

You can take the CPA Exam 4 times in a calendar year. Each section can be taken only once in a testing window.

2. How many hours a week to study for the CPA Exam?

A lot of students wonder how many hours they should study for CPA. The answer can vary greatly depending on your work-study habits and experience. We recommend that you study for your CPA exam at least 15 hours per week.

3. Can you pass the CPA Exam in 3 months?

Many students have passed the CPA Exam in months, not years. NorthStar Academy will help you go from scratch to passing in 3 months or less. The Fastest Way to Pass the CPA Exam in 3 Months or Less

Conclusion

NorthStar Academy has been helping accounting professionals realize their goals of becoming a licensed CPA. NorthStar Academy has helped thousands of accountants achieve their dreams of becoming licensed CPAs. NorthStar comes with a successful CPA pass guarantee and a high level of student service.

US CPA is the only certification that can be practiced in both India and USA and provides you with global recognition. Our US CPA course program has been designed to help you clear US CPA exams despite having a background in commerce or being a complete fresher.

Get in touch with us today to know more or call us now +918147470707.

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