What to Look For in a Quality CPA Review

If you have an interest in a career as a Certified Public Accountant (CPA), you probably have looked into the CPA Exam to obtain your licensure. Before you can become a CPA, you must pass the requirements for education, examination, and experience first. The process is not an easy one. Less than 50% of accountants in the United States hold this license, partially because the exam is notoriously difficult to pass. That’s why many candidates for the CPA enroll in a CPA Review course.

What Is the CPA Exam?

The Uniform CPA Examination is made up of four sections, requiring test-takers to demonstrate their understanding of each subject area, including Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). Candidates have an 18-month window to pass all four parts of the exam. The 2021 pass rate for each section ranged from 47% to 62%.

What Makes a Good CPA Review?

When you look at the short passing window and large amount of content to learn for the CPA Exam, enlisting in a CPA review course makes a lot of sense. A good prep course helps students to create a schedule with target dates and facilitates breaking the material into manageable chunks. They also offer a range of delivery methods to accommodate a variety of learning styles. There are a number of important factors to consider when evaluating a CPA prep course.

  • Price: How much is the course, and is it worthwhile for the content provided? Are there payment plans, options to choose tiers of support, or other price-saving solutions available?
  • Quality of materials: Does the course offer a large volume of practice questions, exam simulation, video components, study guides, and other materials? If so, are the materials of a sufficiently high quality to prepare you for the actual exam?
  • Lectures: What are the qualifications of the course curriculum team? Is their experience in accounting sufficient to convey the content? Is their experience in education sufficient to teach effectively? Are the lectures motivating?
  • Support: Is there a support team available by phone, email or live chat function? Is there a guarantee that you will pass the exam associated with the program?

How Does a CPA Prep Course Work?

CPA review courses usually provide a textbook for students to study, a lecture series, practice multiple-choice questions, simulated practice problems, and mock exams.

  • Course content: Candidates begin the course by taking a pre-test to determine strengths and areas for improvement. Then students develop a timeline for studying based on their planned exam dates. Most prep courses offer self-paced lectures and units based on the textbook chapters, followed by practice problems and explanations. Practice questions and exam simulations seem to be the most important component of the review course and offer the most benefit for CPA candidates.
  • Testing window: In past years, the CPA exam test followed the fiscal year quarterly calendar. However, in 2020 a continuous testing model was rolled out, which enables testing year-round.
  • After the exam: Following passing of all four components of the exam, a candidate’s scores are submitted to the Board of Accountancy for their state. The board requires an application that includes a specific amount of work experience, college credits, and sometimes a passing score on an ethics exam.
  • State requirements: The CPA Exam is a standardized exam that is uniform across the United States, but some states vary in their requirements for education and work experience to obtain licensure. Typically, states require accrual of at least 150 credit hours of education, with 30 hours in accounting-specific subjects and at least 15 hours at the graduate level. In addition, some states require successful completion of an ethics exam. Transfer of CPA licensure from state to state may require passing of the new state’s ethics exam, but a passed CPA Exam is accepted in all 50 states.
  • After licensing: Following attainment of your CPA license, you must earn Continuing Professional Education (CPE) credits in specific accounting disciplines in order to keep your CPA license active.
  • Specialization: You may decide to obtain additional credentials in order to specialize in a particular accounting area. Specializations include Certified Financial Analyst (CFA), Certified Fraud Examiner (CFE), Certified Information Systems Auditor (CISA), Certified Internal Auditor (CIA), and Certified Management Accountant (CMA).

For a high-quality, award-winning CPA Review with a 94% passing rate, take a look at https://accounting.uworld.com/cpa-review/

TIME BUSINESS NEWS

TBN Editor

Time Business News Editor Team