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Topics of Certified Public Accountant (CPA) Exam

The CPA Exam test consists of four, four-hour sections. You must clear all four sections within 18 months with a minimum score of 75 on each part. The core topics for each of the four sections are listed below. These contents are likely to be used for the examination. However, on any particular delivery of the test, other similar topics could also appear.

It is recommended that, where possible, the applicant uses these contents and/or other resources to provide background information on the exam objectives. The syllabus for the Certified Public Accountant (CPA) Exam is listed below with detail of each section and their topics:

1. Auditing and Attestation (AUD)

Objectives covered by this section:

Developing a Planned Response & Assessing Risk (20 to 30%)

• Planning an engagement
• Assessing and identifying the risk of material misstatement
• Specific areas of engagement risk
• Debtor-creditor relationships
• Entity's internal control
• Materiality

Professional Responsibilities, Ethics & General Principles (15 to 25%)

• Ethics and professional conduct
• Communication with component auditors
• Engagement documentation
• Nature and scope
• A firm's system of quality control
• Communication with management

Obtaining Evidence & Performing Further Procedures (30 to 40%)

• Performing specific procedures to get evidence
• Acquisition and disposition of assets
• Internal control deficiencies and misstatements
• Subsequent events
• Sampling techniques
• Written representation

Reporting and Forming Conclusions (15 to 25%)

• Other reporting considerations
• Reporting on compliance
• Reports on attestation engagements
• Reports on auditing engagements
• Review service engagements

2. Regulation (REG)

Objectives covered by this section:

Federal Tax Procedures, Professional Responsibilities, and Ethics (10 to 20%)

• Responsibilities in tax practice
• Legal duties
• Federal tax procedures
• Licensing and disciplinary systems

Business Law (10 to 20%)

• Government regulation of business
• Business structure
• Debtor-creditor relationships
• Agency
• Contracts

Federal Taxation of Property Transactions (12 to 22%)

• Determination of taxable estate
• Estate and gift taxation
• Gift tax deductions
• Cost recovery
• Acquisition and disposition of assets
• Gift tax annual exclusion

Federal Taxation of Individuals (15 to 25%)

• Reporting items from pass-through entities
• Gross income
• Filing status
• Passive activity losses
• Alternative Minimum Tax
• Computation of tax and credits
• Computation of tax and credits

Federal Taxation of Entities (28 to 38%)

• C corporations
• Liquidation of business entities & tax treatment of formation
• Tax-exempt organizations
• Trusts and estates
• Limited liability companies
• S corporations
• Partnerships

3. Financial Accounting and Reporting (FAR)

Objectives covered by this section:

Standard-Setting, Conceptual Framework, and Financial Reporting (25 to 35%)

• Conceptual framework
• General-purpose financial statements
• Standard setting for non-business entities
• Special purpose framework
• Public company reporting topics
• Standard setting and conceptual framework for nonbusiness entities

Select Financial Statement Accounts (30 to 40%)

• Income taxes
• Long-term debt
• Compensation benefits
• Investments
• Inventory
• Cash and cash equivalents
• Intangible assets
• Property, plant, and equipment

Select Transactions (20 to 30%)

• Contingencies and commitments
• Software costs
• Derivatives and hedge accounting
• Nonreciprocal transfers
• Differences between IFRS and U.S. GAAP
• Research and development costs
• Accounting changes and error corrections
• Foreign currency transaction and translation
• Leases
• Business combinations
• Subsequent events
• Fair value measurements

State and Local Governments (5 to 15%)

• State and local government concepts
• Government-wide financial statements
• Comprehensive Annual Financial Report (CAFR)
• Specific types of transactions and events: calculation, measurement, presentation in a governmental entity, and valuation

4. Business Environment and Concepts (BEC)

Objectives covered by this section:

Corporate Governance (17 to 27%)

• Regulatory frameworks and provisions
• Internal control frameworks
• ERM (Enterprise Risk Management) frameworks

Economic Concepts and Analysis (17 to 27%)

• Economic business cycles
• Financial risk management
• Market influences on business

Financial Management (11 to 21%)

• Financial valuation methods
• Working capital
• Capital structure

Information Technology (15 to 25%)

• IT governance
• Processing integrity
• Information security/availability
• Role of information technology business
• Systems development of maintenance

Operations Management (15 to 25%)

• Planning techniques
• Cost accounting
• Performance management
• Process management

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New updates

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Study Guide

Exam Contents

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FAQs and Guide

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How to study the Certified Public Accountant (CPA) Exam

In order to study for the Certified Public Accountant (CPA) Exam, use the exam blueprints and study resources by accessing the links at the bottom of this document. Use the material on the internet to learn all the exam contents in detail and then take the practice sample tests through the AICPA website. The “Help” button on each sample test provides a link to tutorial topics that can be further used to gain more in-depth knowledge. Students are highly encouraged to join AICPA's Certification community where they can join students from all over the world and learn together. CPA exam dumps are highly recommended for candidates as they are the best study materials. For further exam self-study materials, refer to the links down below.

As always, We recommend a combination of hands-on experience, completion of the training course, and self-study in the areas described in the Exam Outline section of this exam guide as preparation for this exam. After all sorts of study, test your understanding by taking the CPA practice exams. Hover on to AICPA's Website and take a look at study materials provided for the exam. Check for the topics mentioned in the Exam Outline section of this guide to review the online documentation, tip sheets, and user guides and study the details relevant to those topics. Refer to the links at the end of this document for more study material.

CPA AA Exam Syllabus Topics: