The new policy detailing when pronouncements are testable on the CPA Exam is effective April 1, 2016, and applies to all accounting and auditing pronouncements issued after July 1, 2015. It states that accounting and auditing pronouncements are eligible for testing in the later of
The first testing window beginning after the pronouncement’s earliest mandatory effective date –or– the first testing window beginning six months after the pronouncement’s issuance date
With this updated policy, the new pronouncement immediately replaces the old, meaning that candidates will no longer need to worry about early adoption or know both the current and old rules.
There were no changes to the policy with respect to taxation changes, the IRC, federal taxation, federal laws, or uniform acts.
The Gleim CPA Review test banks, online course, and digital versions of the books are always updated in plenty of time to prepare you for any changes in the material. Gleim CPA will keep you informed of any pronouncement changes, so while it’s important to be aware of the new pronouncement testing policies, do not stress about or need to memorize these as we will update you and the course as new content is introduced.
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