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CPA Exam to Change in 2011

Major changes will come to the CPA exam in 2011.

The CPA exam will be transformed on January 1, 2011; the changes are numerous and significant.
This new CPA exam will include the following general changes:

  • New content and Skill Specification including International Financial Reporting Standards.
  • New question formats including short task-based simulations.
  • New research functionality that includes the FASB Codifaction.
  • New exam structure and section time allocations.
  • Changes in the percentage value of examination components.

Business Environment & Concepts Changes

  • The number of multiple choice questions will be decreased from 90 to 72.
  • 3 written communication tasks will be introduced.
  • Exam time will increase 30 minutes.
  • Includes new non-accounting topics such as strategic planning and operations management.

Financial Accounting & Reporting Changes

  • Remove 2 simulations and replace with 7 task-based simulations.
  • 40% of overall score will be from simulations.
  • Includes International Financial Reporting Standards.

Auditing & Attestation Changes

  • Remove 2 simulations and replace with 7 task-based simulations.
  • Exam time will decrease 30 minutes.
  • New research task format will be introduced.
  • Includes coverage of International Standards on auditing and Professional Responsibilities.

Regulation Changes

  • Remove 2 simulations and replace with 6 task-based simulations.
  • Coverage on Business Structures will move from BEC to REG.

If you plan to sit for any parts of the CPA exam – it is advised that you complete all in 2010 before the major changes take place.
The Becker Review can prepare you to successfully pass the exam – register for the Becker Review through Burchard & Associates, Inc. and receive $500 off the price.

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