Testable Financial Pronouncements

This CPA Prep Tip concerns the financial accounting pronouncements candidates are responsible for on the CPA exam.

Financial Accounting Standards

Board statements, interpretations, and other accounting pronouncements are eligible to be tested in the exam window beginning 6 months after the pronouncement’s effective date, unless early application is permitted. When early application is permitted, the new pronouncement is eligible to be tested in the window beginning 6 months after the issuance date. In this case, both the old and new pronouncements will be tested until the old pronouncement is superseded. Rely on Gleim to prepare you for the exam.