Of the four CPA Exam sections, the content of REG is the most straightforward, but that does not mean it is easy. The REG CPA Exam section requires diligent study and intelligent preparation to pass. While REG focuses on taxation and business law within the U.S. (so you don’t have to worry about IFRS), there is a lot of material within that comparatively narrow scope. To help you master it, here are some REG CPA Exam tips.
REG CPA Exam Tips for Studying
- Study early; study often.
Your score on REG is a reflection of the amount of time you put in, so put in as much time as you can and make the most of it. The most successful candidates know the huge effect stress and fatigue can have on their performance, so they set up a study calendar that plays to the strengths of their lifestyle and sleeping habits. An interactive study planner like that of Gleim CPA Review enables you to schedule your study sessions based on these factors. Our study planner even tracks your performance and allows you to receive personalized support from our exam mentors.
- Become familiar with federal taxation, specifically income, gift, and estate taxation.
If you have had coursework focused on taxation or done work in a public tax practice, you are at an advantage. Upwards of 70% of the REG exam focuses on federal taxation. The exact amount is
- Federal Taxation of Property Transactions (12% – 22%)
- Federal Taxation of Individuals (15% – 25%)
- Federal Taxation of Entities (18% – 24%)
The rest of the exam focuses on
- Ethics, Professional, and Legal Responsibilities (10% – 20%)
- Business Law (10% – 20%)
- A good deal of this content should be familiar to candidates who have taken core university business law classes.
- Practice applying learned concepts.
Rote memorization will not yield your highest possible score on REG. Now more than ever, the ACIPA is testing candidates at a higher level. Candidates are expected to be able to demonstrate the skills required to provide tax preparation and advisory services and perform other responsibilities of a certified public accountant. Accordingly, spend a large portion of your study time answering multiple-choice questions and task-based simulations of increasing complexity. Flash cards, while good for learning unfamiliar terms or for review, will not be sufficient preparation on their own.
REG CPA Exam Tips for Scheduling
Along with the BEC CPA Exam section, REG has put up some pretty high pass rates in the past, and a good deal of its content will be familiar to candidates who have had internships or worked in a public tax practice. Schedule this section early to build confidence or if you are planning to begin work at a tax firm in the near future. The knowledge you gain will be a great asset to you in your professional career. The content of the BEC, FAR, and AUD Exam sections has some overlap, so it is usually best to schedule those close to one another. If you are not comfortable taking REG first, consider scheduling it last.
REG CPA Exam Tips for Review
The best way to learn federal tax processes, procedures, accounting, and planning is through doing. You need a review system that can provide you with the questions and cases that will allow you to build your familiarity with the content. Our Premium CPA Review course is powered by SmartAdaptTM technology that adapts to your study needs and helps you utilize the largest bank of multiple-choice questions and task-based simulations on the market. Access our course with our free CPA demo today!