The Uniform CPA Exam is difficult. It’s difficulty proves it to be one of the toughest professional exams to take. This extremely difficult exam can scare many away. With this page, there is no need to worry. I will take you through, step by step of the CPA Exam process. I am going to break this process down into easily attainable steps, so you can CRUSH these exams! This process will start from the moment you even think of taking the exam, and end when you’ve become a licensed CPA. Let’s dive right into this process!
Make a plan:
The CPA exam is going to be a long and difficult process. For some people it can take years, for others, only a few months. This is why it is crucial to have a plan. I would suggest looking at the calendar, and planning when you will have study time, when you can take exams, and when you will be too busy for studying. With four exams of differing lengths and topics, you’ll need to plan accordingly for each one. By the end of this guide, you will know roughly how long it will take for each exam, so you can plan around them.
Eligibility:
For now, let’s figure out if you can even take the exam. There are eligibility requirements for these exams. Yes, that’s right, there are even more barriers to entry. Without them, the CPA certification would lose value. Each state has differing requirements (although many are the same). Check out this comprehensive listing of requirements by each state, and find your requirements. Fear not, as you most likely fulfilled these requirements with your college degree. These requirements include credit hours, relevant coursework, and experience. Once you’ve figured out if you are eligible or not, it’s time to move onto to registration.
Sign up for the exams:
As if the exams weren’t difficult enough, signing up for them is equally confusing. Let’s take a look at each website you’ll need to go through, and what each one entails.
CPA Central:
CPA Central is your main hub for all things CPA. From here, you can begin your application process. There are a couple of things to note before doing so, however. When applying you will need some important documents. You will need personal identification, and a transcript. Be prepared to fill out lots of information. Remember you are filling all of this out to ensure eligibility for the exams. Once you’ve finished, you’ll be able to apply for an exam. To do this, you will need to pay for each exam, one by one. Once you have finished applying and have sent payment, you will need to wait for a very crucial document called the Notice to Schedule, also known as the NTS. The NTS is the document that allows you to pick your exam date and time, and also enter the exam room (don’t forget to bring it on exam day). For your first ever NTS, it can take a few weeks to receive. But, the nice part is that after you’ve received your first NTS, all the other NTS that you will receive in the future will come much faster, maybe only two to three days.
NASBA:
The NASBA website is much less complicated than CPA Central. This is essentially where you can find your scores on the score release dates. From the NASBA site, you may also review and appeal scores. Although very rare, you may be able to bump up your score if you disagree with a particular answer.
Prometric:
Prometric is where you can schedule your exams. You might be thinking to yourself, do I have to wait for my NTS to be able to know when I can take my exam? And the answer to that, is no! Prometric has a very useful tool where you can look for availability without an NTS. This will allow you to make a plan of when you need to begin studying, even before applying for your NTS.
Study for the exams:
Now that you’re all registered for the exams, you’ve received your NTS, and your exam is scheduled, it’s time to study! If you thought the process was difficult before, you’re in for a good time. The best and most highly recommended way to tackle this is through the use of an online study program. There are many options, and I will place a listing of each below for you to explore. You may be able to find a free trial to explore which one you enjoy the most. Also, ask your employer if they have any type of program to pay for the study materials, as they can get expensive. As for exam order, that is completely up to you. You may take them however you choose! All four exams will be described below. For now, here is a listing of the four most popular study programs.
Exams:
In no particular order, let’s look at each of the four exams.
Audit:
Known as AUD, this exams covers all things auditing. This exam also includes other non-attest services, and the AICPA Code of Conduct. This exam will take roughly 70 – 90 hours of study time. The exam itself will encompass 72 multiple choice questions, and 8 task based simulations.
Business Environment & Concepts:
More commonly abbreviated as BEC, many consider this to be the easiest exam. It covers a wide variety of topics including finance, internal controls, information technology, and many more. This is the shortest exam to study for, requiring only 60 – 80 hours of study time. The exam differs from others, with 62 multiple choice, 4 task based simulations, and 3 written communication questions.
Financial Accounting & Reporting:
This exam, known as FAR, is known to be a beast. This is widely regarded as the most difficult exam, due to the sheer volume of content included. It covers all things financial accounting. Think of income statements, balance sheets, and cash flow statements. Due to the large amount of content, it is recommended to put in around 120 – 150 hours of study time. The FAR section has 66 multiple choice questions, and 8 task based simulations.
Regulation:
The final exam we will cover is called REG. This exam encompasses taxation, and business law. You can expect to study individual tax, corporate tax, as well as contract law and agency relationships. This exam is in the middle of the road length wise, taking about 80 – 100 hours of study time. The exam will have you taking 76 multiple choice questions, and 8 task based simulations.
Take the exams:
You’ve now finished studying and you’re ready for the exam. You’ve got this. At this point, you’re a CPA expert. That difficulty has been crushed. A few things to note. At the testing center, don’t forget your NTS. You cannot take the exam without it. Also, you are allowed to bring in earplugs to the exam room. Keep in mind there will be other test takers in the room with you, which can lead to noise. If you think that this will break your focus, bring your own earplugs! They can be foam, as long as no strings are attached. Once you finish up the exam, you will received a confirmation of attendance report, and now all that’s left is to wait for your score! You can use the score release link listed above, and follow NASBA on Twitter to find out when you will receive your score.
Apply for your license:
Congratulations! You’ve passed all of your exams. All that’s left is to apply for licensure. This can be done through the CPA Central website listed above. But, uh oh, you might need an experience requirement. This may entail work experience. But, don’t worry, once you’ve passed the exams, you’re good to go. All you need to do it work for however long your state requires, and you’ll receive your license. I hope you found this guide to be helpful! Now you can help you friends and family reduce the difficult of the CPA exams too!
