CPA Exam Prep Blog

New Revenue Recognition Standards on the CPA Exam

April 26, 2017

revenue recognition standards

Though major changes to the CPA Exam officially went into effect on April 1, the content of the exam will continue to change over time as new pronouncements become testable. Knowing when the specifics of these pronouncements will appear on the CPA Exam can help you determine the order in which you should take the CPA Exam sections. Therefore, we want to let you know when one new pronouncement in particular will be tested on the CPA Exam, which section the pronouncement will affect, and when you should schedule that section based on this information.

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How is the CPA Exam Graded? The CPA Passing Score

April 18, 2017

cpa passing score

For many, passing the CPA Exam marks the culmination of many months of effort as well as the beginning of a lucrative career. Most know that you need a 75 to pass, but few are aware that a 75 does not represent 75% correct. Scoring a 75 indicates, per the AICPA, “performance reflecting a level of knowledge and skill sufficient for the protection of the public.” So, how exactly does the AICPA award the CPA passing score? How is the CPA Exam graded? You’ll understand that elusive 75 a little better with the answers to these questions.

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Navigating Task-Based Simulations on the New CPA Exam

March 27, 2017

task-based simulations on the new cpa exam

In the months leading up to the launch of the new version of the CPA Exam, the AICPA disclosed many details about how the format and functionality of the exam would change. One final bit of insight the AICPA offered before the new version launched addressed the navigation of the increased number of Task-Based Simulation (TBS) testlets. Specifically, candidates can no longer see all of the TBSs at once. Now that the new version of the exam has arrived, candidates making the transition from old to new may want to update their exam day strategies based on this change.

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Delayed CPA Exam Score Release

March 20, 2017

delayed cpa exam score release

The AICPA has shared the score release timeline for the remainder of 2017, and this timeline features far fewer target release dates for the testing windows to come than the testing window that has ended. As a candidate taking sections of both the old and new CPA Exams, you may worry that the reduced number of score release dates will cause a conflict with your 18 months of exam credit and the conditional credit rule, but new information from the AICPA and NASBA confirms that you should not worry, you should simply learn more about how these organizations will handle the situation.

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The Benefits of a Summer Accounting Internship

March 17, 2017

summer accounting internship

As an accounting student, you can be well-prepared for your entire accounting career by the time you graduate if you capitalize on some of the valuable opportunities available to you. One particular opportunity you should pursue while still in school is an accounting internship. An accounting internship is an extensive introduction to the function and culture of an organization, and it can cover up to ten weeks of your summer. These internships can be full-time, part-time, paid, or unpaid, but no matter their structure, summer accounting internships definitely include benefits, so you should plan ahead and find the best one for you.

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