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Steve Yang, KAPLI Instructor
About the webinar- Feel free to type questions as they come up - Any unanswered questions will be addressed at the end- The link to the recording and slide deck will be sent out
after the webinar
NY/NJ CPAs, Professionals in Accounting MeetUp
- Formed last year with the goal to provide networking and seminars for accounting professionals
- Working to create even more events (online and in-person)
- If you are interested in being a speaker, please let us know
Steve Yang, KAPLI Instructor
Three stages of knowing something
I know. I definitely know it.
Three stages of knowing something
I know. I definitely know it.I know what I don’t know.
Three stages of knowing something
I know. I definitely know it.I know what I don’t know.
I don’t know what I don’t know.
If you are in Stage 3 regarding the CPA, I can help you be in Stage 2
Requirements to Become a CPA
Most states require 150 credits and some accounting credits
75% or above from each subject (AUD, REG, FAR, BEC)
Most states need some experience (1yr)* You have to submit a letter from your CPA supervisor
Education Exam scoreExperience
The “3 Es”
CPA ≠≠≠ Certified Public Accountant
CPA === Cannot Pass Again!
➔ This shows how hard it is!CPA === Cannot Pass Again!
CPA === Cannot Pass Again! ➔ This shows how hard it is!SO, HOW DID I PASS THE EXAM?
FAREBe familiar with the questions! Solve MCQs as many times as possible.Spend some time on Governmental Accounting(These are straight-forward questions if you know the subject)
Sections of the Exam
REGSpend 70% of your time in TaxBuis Law ⇒Make sure to know all the basic principles.
Sections of the Exam
AUDTry to understand audit procedures and memorize unique points in a specific procedure. Also, memorize reports: compilation, review, & audit reports.
Sections of the Exam
BECThe subject is broad. Memorize key concepts and try to solve a wide range of problems (especially IT).
Sections of the Exam
Overall, you need to get only 75 or above!!!Do not spend too much time on studying too detailed or too hard questions.
NEW CPA Exam
(Starting Apr/2017)
Maintaining the relevance of the Uniform CPA
AICPA has published a Blueprint and Exposure Draft
The motto of the exposure draft:
Maintaining the relevance of the Uniform CPA
AICPA has published a Blueprint and Exposure Draft
The motto of the exposure draft:
➔Make sure candidates meet market demand for higher order skill sets
➔ Most likely harder than current exam
60% 40%RememberingUnderstanding Application
Current exam assess two major skills
Usually tested in MCQs
Usually tested in Task Based Simulations
RememberingUnderstanding Application Analysis Evaluation
NEW!
NEW!
New Skill Assessment
Audit Business En & ConceptsRegulationFinancial
Reporting
R & U AppAnalyEval
Only Section with EVAL
Major Reduction in R&U Minimum Change Maximum Change
R & U AppAnalyEval
R & U AppAnalyEval
R & U AppAnalyEval
30% - 40%
30% - 40%
15% - 25%
5% - 15%
10% - 20%
50% - 60%
25% - 35%
10% - 20%
50% - 60%
25% - 35%
25% - 35%
25% - 35%
35% - 45%
AUD FARE REC BEC
Before After Before After Before After Before After
MCQ 90 72 90 66 72 76 72 62Simulation 3 8-9 7 8-9 6 7-9 4-5
(new!!!)
Written Com 3
Test Duration 4 4 4 4 3 4 3 4
Overall 10~15 less MCQs and 2~3 more Simulations
AUD FARE REC BEC
Before After Before After Before After Before After
MCQ 90 72 90 66 72 76 72 62Simulation 3 8-9 7 8-9 6 7-9 4-5
(new!!!)
Written Com 3
Test Duration 4 4 4 4 3 4 3 4
***BEC is the biggest change. There is no practice simulation anywhere, yet. It is hard to prepare for it if you don’t know the style of the questions.
After a big change, a period of chaos follows.The first few years will be a test period for the exam.
Do not be a victim of the change! Pass (AUD and BEC) beforehand.
Questions?
Contact:[email protected] or Kris Nam at NY/NJ CPAs, Professionals in Accounting MeetUp
*Reminder that if you would like to be a speaker for future events, please also contact us
THANK YOU!
