CPA Exam Requirements – 5 Things To Know Before You Go
Before you even begin your rigorous studying schedule, there are a few things you’ll want to be aware of about the CPA exam requirements and test format. First of all, requirements to qualify to even take the exam can vary from state to state, and you will want to make sure that you meet the minimum requirements in the state in which you want to practice. Typically, you need a minimum of a BA degree and a certain number of hours in accounting. This should be among the first steps you take in the whole process. This is just the start; once you have determined that you actually qualify to take the exam, there is a whole lot of work to do from there. Beyond the basic CPA exam requirements, here are five things you should know before you go:
1) You can’t just take this thing anytime you want. The CPA exam is offered two out of every three months, up to six times per week during on months; and you can sit for any or not all portions during a given testing period, but you can take any portion more than once in the same testing period.
2) The exam is not always the same. In fact, recent changes have been made to add in some increased focus in the areas of information technology and general business knowledge, as well as a increase in the amount of focus on the audit portion.
3) So what is on this exam? In order to meet CPA exam requirements and become fully certified as a CPA, you will need to pass all portions of the exam, demonstrating competence in auditing and attestation, business environment and concepts, financial accounting and reporting, and regulation.
4) The format for the new computer based CPA exam uses two basic types of questions. This first are objective questions, multiple-choice options that appear in groupings throughout the test and comprise about 80% of the test. Other questions are simulation based and ask the tester to answer questions about a specific business situation based on what might be encountered in an entry-level CPA position. These questions make up about 20% of the exam.
5) The minimum score you need in order to be certified is 75%. It is important to keep this number in mind and use it as a target in all of you preparation and practice tests.
Keeping these five keys in mind will help ensure that you are as prepared as possible to meet all CPA exam requirements.