2011 CPA Exam Changes
The CPA Exam Is Evolving. So Is Our CPA Review.
Beginning January 1, 2011, the CPA exam will be undergoing a significant transformation. This evolution involves many changes going into effect at once – but you can count on Bisk CPA Review to continue to help you prepare. We have a remarkable record of helping CPA candidates pass the Uniform CPA Exam, and our content experts are already updating Bisk CPA Review materials to mirror the content and structure of the 2011 exam, including:
- New content and skill specifications, including IFRS coverage
- New question formats
- New research databases and functionality, including the new FASB Codifications
- New exam structure and section time allocations
- Changes in the percentage value of examination components.
Rest assured, candidates using Bisk CPA Review materials while studying for the CPA Exam will be equipped with the most current information as well as the most effective learning management systems and tools.
Don't Procrastinate — Sign Up, Sit Down, PASS!
Specific format changes on the new CPA Exam as of January 2011 include:
- FAR (Financial Accounting) – 3 Testlets containing 30 MCQ Questions and 1 Testlet containing 6-7 Task-based Simulations
- AUD (Auditing & Attestation) – 3 Testlets containing 30 MCQ Questions and 1 Testlet containing 6-7 Task-based Simulations
- REG (Regulation) – 3 Testlets containing 24 MCQ Questions and 1 Testlet containing 6-7 Task-based Simulations
- BEC (Business Environment & Concepts) – 3 Testlets containing 30 MCQ Questions and 1 Testlet containing 3 Written Communication questions
Specific content changes with the new CPA Exam as of January 2011 include:
Financial Accounting and Reporting (FAR) –
| Financial Accounting and Reporting (FAR) | ||
|---|---|---|
| Area | Current CSOs | New CSOs |
| Area I | Concepts and Standards for Financial Statements (17-23%) | Conceptual Framework, Standards, Standard Setting and Presentation of Financial Statements, (First-time adoption of IFRS) (17-23%) |
| Area II | Typical Items in Financial Statements (27-33%) | Financial Statement Accounts: Recognition, Measurement, Valuation, Calculation, Presentation, and Disclosures (27-33%) |
| Area III | Specific Types of Transactions (27-33%) | Specific Transactions, Events and Disclosures: Recognition, Measurement, Valuation, Calculation, Presentation, and Disclosures (27-33%) |
| Area IV | Governmental Accounting and Reporting (8-12%) | Governmental Accounting and Reporting (8-12%) |
| Area V | Not-for-Profit Accounting and Reporting (8-12%) | Not-for-Profit (Nongovernmental) Accounting and Reporting (8-12%) |
Auditing & Attestation (AUD) –
| Auditing and Attestation (AUD) | ||
|---|---|---|
| Area | Current CSOs | New CSOs |
| Area I | Plan the Engagement (22-28%) | Auditing and Attestation: Engagement Acceptance and Understanding the Assignment (12-16%) |
| Area II | Internal Control (12-18%) | Auditing and Attestation: Understanding the Entity and Its Environment (including Internal Control) (16-20%) |
| Area III | Obtain and Document Information (32-38%) | Auditing and Attestation: Performing Audit Procedures and Evaluating Evidence (16-20%) |
| Area IV | Review and Evaluate Work Performed (8-12%) | Auditing and Attestation: Evaluating Audit Findings, Communications and Reporting (16-20%) |
| Area V | Communications and Reporting (12-18%) | Accounting and Review Service Engagements (12-16%) |
| Area VI | N/A | Professional Responsibilities (including Ethics and Independence) (16-20%) |
Regulation (REG) –
| Regulation (REG) | ||
|---|---|---|
| Area | Current CSOs | New CSOs |
| Area I | Ethics and Professional and Legal Responsibilities (15-20%) | Ethics, Professional and Legal Responsibilities (15-19%) |
| Area II | Business Law (20-25%) | Business Law (17-21%) |
| Area III | Federal Tax Procedures and Accounting Issues (8-12%) | Federal Tax Process, Procedures, Accounting and Planning (11-15%) |
| Area IV | Federal Taxation of Property Transactions (8-12%) | Federal Taxation of Property Transactions (12-16%) |
| Area V | Federal Taxation of Individuals (12-18%) | Federal Taxation of Individuals (13-19%) |
| Area VI | Federal Taxation of Entities (22-28%) | Federal Taxation of Entities (18-24%) |
Business Environment & Concepts (BEC) –
| Business Environment and Concepts (BEC) | ||
|---|---|---|
| Area | Current CSOs | New CSOs |
| Area I | Business Structure (17-23%) | Corporate Governance (16-20%) |
| Area II | Economic Concepts (8-12%) | Economic Concepts and Analysis (16-20%) |
| Area III | Financial Management (17-23%) | Financial Management (19-23%) |
| Area IV | Information Technology (22-28%) | Information Systems and Communication (15-19%) |
| Area V | Planning and Measurement (22-28%) | Strategic Planning (10-14%) |
| Area VI | N/A | Operations Management (12-16%) |
