2018-cpa-exam-faqs

The CPA Exam is undergoing some changes, effective January 1, 2018. Here are some Frequently Asked Questions we put together to help you better understand what the changes are and how we'll help you prepare for success in the new year.

1. What is changing on the 2018 CPA Exam?

The CPA Exam will undergo several changes throughout 2018. Changes to the Exam include:

  • Content Updates: Focus on Revenue Recognition
  • New User Experience Redesign
  • Inclusion of Microsoft Excel
  • Larger monitors at Prometric Testing Center

For a detailed look at the changes, visit our 2018 CPA Exam Changes page.

Read Full Entry
new-sample-cpa-exam-with-2018-ux-changes
 
The AICPA went live today with a new sample exam that features the major User Experience (UX) changes that will hit the CPA Exam in April of 2018. 
 
If you're a CPA candidate, please note that while this update will not affect the content of the exam, it’s still very important to be familiar with the changes so that there are no surprises on exam day.  Tweet this
 
We highly suggest you check out the AICPA's new sample exam, and that you read below for a quick rundown of what the changes entail and how we will help prepare you for this new exam.

Read Full Entry

far-2018-cpa-exam-revenue-recognition

Over the past few weeks, you’ve probably heard a lot about the 2018 CPA Exam changes, specifically to the FAR Exam’s Revenue Recognition topic.  We’ve accumulated some of the top questions surrounding this topic change and provided answers from our expert CPA team.

What is Revenue Recognition?

Revenue Recognition is a basic accounting principle under GAAP that determines the specific conditions under which an entity recognizes or accounts for revenue.



 

Read Full Entry

2018-cpa-exam-content-updates

The new year will be here before you know it, and our team has been hard at work ensuring our 2018 course materials address the new updates provided to us by the AICPA.  These updates will address two types of changes:

  • Alterations to the representative tasks laid out in the AICPA Blueprints and;
  • Content updates resulting from changes to authoritative guidance.

Below we have provided a basic breakdown to how each Exam section is changing come 2018, and how we are addressing these issues in our course materials:

Read Full Entry

2017-cpa-exam-blueprint

 

What are the CPA Exam Blueprints and why are they are important to understand for the next version of the CPA Exam?

Read Full Entry

solution-for-delayed-score-release-on-the-new-exam
Any type of major transition from one thing to the next requires adequate planning, troubleshooting, and an allotment of time before the switch is seamlessly made. It goes without saying, then, that this logic also applies to the CPA Exam, and touches on all parties involved, including the AICPA, NASBA, CPA Exam review providers, and of course—CPA Exam candidates.

Read Full Entry

task-based-simulations-reduced-2017-cpa-exam

 

Good news for CPA candidates! The AICPA has announced a decrease in the amount of Task-Based Simulations on all parts of the next version of the CPA Exam. Originally the 2017 CPA Exam, which goes into effect April 1st, was slated to have between 8 - 9 Task-Based Simulations (TBS) on Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), and Regulation (REG) and 4-5 TBS on Business Environment and Concepts (BEC). The AICPA later announced they would be going with the higher number of TBS for all sections of the exam.
 

Read Full Entry

fasb-issued-accounting-standards-update-asu-2016-20

On December 27, 2016, the FASB issued Accounting Standards Update (ASU) 2016-20 to make various amendments to the new revenue recognition standard, going into effect for years beginning after December 15, 2017 for public entities and one year later for nonpublic entities.

Read Full Entry

restricted-cash
 

 

On November 17, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230):  Restricted Cash.  It is intended to reduce diversity in the presentation of restricted cash and restricted cash equivalents in the statement.  The statement requires that restricted cash and restricted cash equivalents be included as components of total cash and cash equivalents as presented on the statement of cash flows.

Read Full Entry