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The CPA examination measures your data of public accounting ideas, and is made up of 4 components: Monetary Accounting and Reporting (FAR), Auditing and Attestation (AUS), Regulation (REG), and Enterprise Atmosphere and Ideas (BEC). You should full and go all 4 sections to earn your license and grow to be a CPA.
There are 4 two-month testing home windows annually, and you might take all or any sections of the examination in a selected window. Nevertheless, it is necessary to permit your self sufficient time to organize for every part. Candidates who try to tackle an excessive amount of or unfold their examine time too skinny might discover it tough to go on their first try. Likewise, those that undertake the examination with out the good thing about CPA examination programs might uncover that they want formal examination prep so as to go.
If you don’t go a number of sections of the examination, you will have the chance to retake these sections throughout a later testing window. The next outlines what you have to learn about retaking – and in the end passing – the CPA examination.
Scoring of CPA Examination Sections
Every part of the examination is scored on a scale of 0 to 99, with various weights utilized to particular kinds of examination questions. By way of 2010, a minimal rating of 75 was required to go every part. Nevertheless, the scoring and weights have modified with the introduction of the examination’s computer-based testing evolution (CBT-e) in January of 2011. The American Institute of Licensed Public Accountants (AICPA) Board of Examiners will decide relating to the minimal passing rating within the early months of 2011, after knowledge from the primary testing window of the brand new 2011 examination grow to be accessible.
As for the CBT-e scoring weights, the FAR, AUD and REG sections all have the identical construction – a number of alternative questions account for 60% of the full grade, whereas task-based simulations are value 40%. For the BEC part, a number of alternative questions are value 85% of the ultimate rating, whereas written communication duties contribute 15% of the grade.
Launch of CPA Examination Outcomes
Examination testing home windows run the primary two months of every calendar quarter, and candidates usually obtain their scores over the last month of the quarter. The outcomes of the CPA examination are launched in two waves; the primary is roughly per week earlier than the testing window ends, whereas the second is about two weeks after the check window closes.
Nevertheless, the AICPA doesn’t concern scores on to candidates. It sends them to the Nationwide Affiliation of State Boards of Accountancy (NASBA). The person boards are chargeable for approving and releasing scores to candidates, and every board units its personal schedule for distributing the outcomes. Should you suspect you probably did poorly on a selected part, you wouldn’t have to attend in your CPA examination outcomes earlier than rescheduling a retake; nonetheless, you can not retake the identical part greater than as soon as in the identical testing window.
Timeframe for Finishing CPA Examination
To reply the query posed on the outset of this text, there isn’t a restrict to the variety of occasions you might retake the CPA examination. Nevertheless, you could go all 4 sections of the examination inside 18 consecutive months. The calendar begins if you take your first examination, assuming you go no less than one part in that window. If you don’t go all 4 sections inside the 18 month timeframe, you’ll lose credit score for any sections you handed firstly of the rolling window, and the calendar will restart on the date of the following examination part you handed.
Should you exceed the preliminary 18 month window, not solely will you must retake the part(s) you didn’t go, but additionally any part(s) that you could have beforehand handed however which have since expired. That is why many candidates choose to spend money on CPA examination programs to enhance their probabilities of passing the exams the primary time round, and keep away from retakes.
Passing the CPA Examination
Whether or not you are getting ready to take your first part of the CPA examination or on the point of retake a bit, you’ll want to permit adequate time for planning and preparation.
