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CPA Exam and CPE
Information Session
What will be discussed
• Benefits to Being a CPA
• Educational Requirements
• 2012 CPA Exam Format, Content, and Structure
• Mastering the 2012 CPA Exam
• Class and Exam Scheduling
• CPA Exam Application Process
• AICPA Information
• Continuing Professional Education (CPE)
CBT-e Launch > January 1, 2011
‘CBT-e changes will be significant, they will be
numerous, and they will happen pretty much at
the same time. The launch of CBT-e will, in
effect, be the launch of a new CPA examination.’
The Uniform CPA Examination ALERT, Fall 2009
Benefits to Being a CPA
• Promotes “Excellence in Government”
• Increased Promotion Opportunity
• Advances Training Record
• Government adoption of Commercial Practice
– IFRS, SOX, etc.
• Increase in auditing requirements across government
• H.R. 1540 - Financial management positions: Authority to
prescribe professional certification and credential standards
*President Obama Signs Bill*
H.R. 1540-285 Subtitle F
Sec 1599d of title 10, USC, amended:
– Authority: “The Secretary of Defense may prescribe professional
certification and credential standards for financial management
positions within the Department of Defense, including requirements
for formal education and requirements for certifications that
individuals have met predetermined qualifications set by an agency
of Government or by an industry or professional group.”
– “Furthermore, the committee notes that this program should ensure
that FMers are able to fully understand total force management
issues, and the impact of budget decisions on manpower
requirements.”
Under Secretary of Defense (Comptroller), Robert F. Hale 5
Certifications Recommended
• Certified Public Accountant (CPA) • Certified in Financial Forensics
• Certified Defense Financial Manager • Forensic CPA
• Certified Cost Estimator/Analyst
• Certified Government Financial
• Certified Fraud Examiner
Manager
• Certified Government Audit
• Accredited Business Accountant Professional
(ABA) • Certified Information Systems
• Certified AP Professional Auditor
• Certified Payroll Professional • Certified Internal Auditor
• Certified Management
• Accredited in Business Valuation
Accountant
• Certified Business Manager • Certified Treasury Professional
• Certified Forensic Accountant • Certified Cost Consultant
• Certified Quality Auditor
Under Secretary of Defense (Comptroller), Robert F. Hale 6
Educational Requirements
Obtaining your CPA License
The Three E’s
Education | Exam | Experience
Every state is unique
Educational Requirements
Educational
Most States Some States
Requirements
Baccalaureate Degree Yes Yes
150 Hour Rule Yes No
120 hrs. to sit
Eligibility to Sit 150 hrs. to sit
150 for license
Check with www.becker. com/state or
www.nasba.org
for local state information
The DKB Fast Track Advantage
Complete an associate, bachelor’s or master’s
degree while preparing for the CPA Exams
Contact www.keller.edu
The 2012 CPA Exam
Exam Format, Content, and Structure
Exam Overview
4 Independent Sections
Financial Accounting and Reporting (FAR)
4 hours
Auditing and Attestation (AUD)
4 hours
Regulation (REG)
3 hours
Business Environment and Concepts (BEC)
3 hours
Exam can be taken in any state or jurisdiction
Exam is administered at Prometric Testing Centers
Financial – Structure
• Three multiple-choice question
(MCQ) testlets containing 90
questions
60% • One testlet containing seven short,
task-based simulations TBS;
research question in new format
• No written communication tasks
40% • 15 - 20% of questions do not count
• Passing Grade 75
Financial - Content
Typical coverage
• Governmental/
Not-for-profit 16-24%
• Financial 71-89%
– IFRS/SEC Reporting
– Pension Plans
– Cash Flows
– Leases
– Bonds/Securities
– Consolidations
• And more…
Financial Accounting & Reporting
Financial – IFRS and ISA
• Candidates will be expected to identify and understand the
differences between financial statements prepared under U.S.
GAAP and under IFRS.
• First-time adoption of IFRS related to financial reporting,
presentation and disclosures in general-purpose financial
statements will also be tested.
Financial – Codification
• New research task format based on the FASB Codification™.
• Codification consolidates thousands of U.S. GAAP pronouncements into
a single, authoritative, easy-to-access online research tool.
Audit – Structure
• Three multiple-choice question
(MCQ) testlets containing 90
questions
60% • One testlet containing seven short,
task-based simulations TBS;
research question in new format
• No written communication tasks
40% • 15 - 20% of questions do not count
• Passing Grade 75
Audit - Content
Typical coverage
• Planning the Engagement 12-16%
• Internal Controls/Fraud 16-20%
• Audit Procedures/Evidence 16-20%
• Audit Findings & Reporting 16-20%
• Accounting & Review Services 12-16%
• Professional
Responsibilities/Independence 16-20%
• Plus ISA vs. U.S. Auditing Standards
• And more…
Auditing & Attestation
Audit – IFRS and ISA
Demonstrate knowledge and awareness of the following:
• International Auditing & Assurance Board (IAASB) - role in establishing
International Standards on Auditing (ISAs)
• Differences between ISAs and US Auditing Standards
• International Ethics Standards Board for Accountants (IESBA) Role in
establishing International Federation of Accountants (IFAC) Code of
Ethics for Professional Accountants.
• Related independence requirements when auditing a U.S. company
that supports an audit report based on auditing standards of another
country, or ISAs
Regulation – Structure
• Three multiple-choice question
(MCQ) testlets containing 72
questions
60% • One testlet containing six short, task-
based simulations TBS; research
question in new format
• No written communication tasks
40% • 15 - 20% of questions do not count
• Passing Grade 75
Regulation - Content
Typical coverage
• Taxation 54-74%
– Entities, Individual, Property
– Process/Procedures/Planning
• Business Law 17-21%
– Contracts/UCC/Agency
– Business Structure
• Ethics, Professional & Legal
Responsibilities 15-19%
• And more…
Regulation
Business – Structure
• Three multiple-choice question
(MCQ) testlets containing 72
85% questions
• Three written communication
tasks on BEC topics
• 15 - 20% of questions do not
count
• Passing Grade 75
15%
Business - Content
Typical coverage
• Corporate Governance 16-20%
• Financial Management 19-23%
• Economics & Analysis 16-20%
• Operations Management 12-16%
• Strategic Planning 10-14%
• Information Systems /
Communications 15-19%
• And more…
Business Environment & Concepts
Business – IFRS and ISA
Candidates will be expected to demonstrate an understanding of
globalization in the business environment as well as be able to explain
the underlying economic substance of transactions and their
accounting implications.
Mastering the CPA Exam
Master Content – Becker’s Textbooks
Master Exam Functionality – Becker’s
PassMaster ™ Software
Master Time
Study Road Map
• Provides guidance on
what to study and how
much time to devote to
each topic.
• Fully integrates all
course elements.
Study Planner
• Creates a customized
preparation plan that
fits your needs.
• Drag and drop
functionality allows you
to easily address
schedule changes.
• Export capability to MS
Outlook.
Multiple Choice Questions
• Over 6,000 questions.
• Link to lecture and link
to text features provide
clarification on
challenging topics.
• Complete answer
explanations.
• Timer allows you to stay
on pace.
Simulations
• Over 200 task-based
simulations.
• Functionality mirrors the
CPA Exam.
• Timer allows you to stay
on pace.
Review Before Exam
• Provides direction on
how to prepare in your
final days leading up to
the exam.
• Includes two full final
exams per part that
mirror the CPA Exam.
Flexible Course Formats
Over 250 Dedicated Anytime
worldwide online anywhere
locations instructors
Additional Tools
Uniform CPA Examination
Pass Rates 2011
1st 2nd 3rd 4th
Section Quarter Quarter Quarter Quarter Cumulative
AUD 43.88% 47.95% 47.06% 43.18% 45.62%
BEC 42.32% 46.48% 52.06% 45.44% 47.13%
FAR 42.43% 44.27% 49.52% 43.94% 45.57%
REG 41.28% 45.01% 45.37% 44.39% 44.22%
2:1
Pass Rate for Becker vs.
Non-Becker Students
http://www.becker.com/accounting/cpaexamreview/pass-rates.cfm
Elijah Watt-Sells Award
2005 – 7/10
2006 – 7/10
2007 – 10/10
2008 – 9/10
2009 – 14/15
Class and Exam Scheduling
CPA Exam Process
5 Key Steps
Begin Application Process
The On Demand Exam
JAN FEB MAR
1st
Qtr
Window OPEN OPEN CLOSED
• Sit for exams as soon
APR MAY JUN as eligible.
2ndQtr
Window OPEN OPEN CLOSED
• Must pass all 4 parts
JUL AUG SEP within an 18-month
3rd Qtr
Window OPEN OPEN CLOSED window.
OCT NOV DEC
4th Qtr
Window OPEN OPEN CLOSED
The Becker Plan – Sample Live Schedule
AUDIT REGULATION BUSINESS FINANCIAL
MON WED MON WED MON WED MON WED
JUN 1-A1 JUL 11-R1 AUG 31-B1 OCT 10-F1
8-A2 18-R2 20-R3 SEP 7-B2 17-F2 19-F3
13-A3 15-A4 25-R4 27-R5 12-B3 14-B4 24-F4 26-F4
20-A5 AUG 1-R6 3-R7 19-B5 31-F6
NOV 2-F7
7-F8 9-F9
Final Review & CPA Exam Testing Period
JUN 21 – JUL 11 AUG 4 – 30 SEP 20– OCT 9 NOV 10 – 30
The Becker Promise
If you utilize Becker but do not
pass the CPA Exam, you may
repeat our course at no
additional tuition cost if you
satisfy our requirements.
We are that committed to your
success!
Important Websites
www.becker.com
Other Websites
nasba.org
aicpa.org
cpa-exam.org
prometric.com/cpa
becker.com/dc-cpa
becker.com (877)CPA EXAM
Becker’s Continuing
Professional Education
Be ready for today’s economic climate
Get timely and relevant CPE to address
critical issues impacting your profession
Meet tomorrow’s challenges with Becker
CPE Environment
• Most accountants need 80 CPE hours every 2 yrs
• Constantly shifting financial landscape
• Maintain knowledge of accounting practices
• Timely and relevant CPE needed
• Commercial practice adoption by government
• Apply concepts learned to your current matters
“The online lectures are very informative, clear and concise,
and the questions are relevant to the material. The software
is also set up well making navigation very easy.”
Michael Strokes - Accountant
Live Webcast & On-Demand
Free Demo
Why use Distance Learning for CPE?
• October 5, 2009, President Obama signed EO 13514 Federal
Leadership in Environmental, Energy, and Economic
Performance. Section 2(b)(ii) requires GHG reductions
including transit, travel, training, and conferencing.
• The OMB Memorandum M-11-35 - Eliminating Excess
Conference Spending and Promoting Efficiency in
Government
What’s Covered
Accounting – Audit – Finance – Management
• Audit Risk Assessment
• Ethics
• Financial Statement Analysis
• Forensic Accounting/Auditing
• Fraud
• IFRS
• Reconciliation
• SOX
• Strategic Management
• Tax
• Over 160 courses
CPE Yellow Book Courses
Government Courses
• Government Audit – General Audit Sources & Guidance
• Single Audit – Requirements & Application (Best Practices)
• Sox for Government/OMB A-123
• Government Risk Management
• Government Ethics & Independence
• Government Financial Management Issues
• FASAB Update
• Government Auditing Practices
• Fraud/Waste & Abuse
• Government Cost Accounting /Allocation
• Government/Fund Accounting
• Adding “Value” during an audit
• GASB Updates
• Compilation & Review of Financial Statements
Government Interface for CPE
www.becker.com/government
Certificate of Completion
Announcing the new! Becker CPE
Subscription Program
Government Special Offer!
• New! Unlimited Use Subscription Program
• $100 per person, per year
• Webcast and on demand (24x7access)
• Single system tracks progress
• Over 160 Courses
Pre-approved Discounted Rate
GSA Schedule – GS-02F-0105R
www.becker.com
1-877-CPA EXAM
Marie Ramkey, Becker Instructor
Dawn Overstreet
Field Marketing Specialist
John Gioeli
Director, Government Programs
jgioeli@becker.com
703-631-8840
