2012 Course ScheduleWelcome to our blog, some current thoughts, opinions and comments about all things CPA related.
What will you need to sit for the CPA exam in PA effective January 1, 2012?
Candidates may sit for the CPA Exam after they have graduated with a bachelor's or master's degree, and completed at least 24 semester-credit hours in accounting subjects. Candidates are not required to have completed 150 credit hours to sit for the CPA Exam. Candidates, however, will be required to obtain a total of 150 credit hours of education, including 36 semester credit hours in accounting subjects before a license is granted.
How can you pass the CPA exam? The answer is planning and preparation.
The first thing you need to do is develop a study plan. The CPA Exam can be taken in January, February, April, May, July, August, October and November. Consider that you need at least four to six weeks of preparation for each part. If you plan to sit for your first part by the end of January, you need to begin studying soon. You also need to apply for the CPA Exam. You can obtain the application at www.nasba.org. It takes six to eight weeks to process the application.
There are four sections of the CPA Exam, Financial Accounting and Reporting, Auditing and Attestation, Regulation, and Business Environment and Concepts. You have to successfully pass all four parts within 18 months. I recommend completing the exam within six months to one year if possible. The process can be grueling, so why drag it out!
I recommend that you study for either Financial Accounting and Reporting or Auditing and Attestation first. These sections complement each other well. You could even consider studying for these parts at the same time. Here are two suggested strategies:
- Financial (FAR), Regulation(REG), Auditing (AUD), Business Environment and Concepts (BEC)
- AUD, BEC, FAR, REG
Most candidates will report that FAR is the most difficult section. It is basically a three semester cumulative final exam. FAR tests material from Intermediate Accounting I, II and Advanced Accounting.
Most experts agree that you should take the CPA Exam soon after college graduation. There is no question that you will forget this material if you do not use it on a regular basis. Also, college students report that they quickly lose their study skills after graduation.
My advice is to get started! Do not postpone taking the exam.