For the CPA exam in the first year, you are required to take the three core sections and one discipline section. Here are the details:
Core Sections:
Auditing and Attestation (AUD)
Content: Covers general principles, risk assessment, internal controls, and ethics.
Time: 4 hours.
Question Types: 78 multiple-choice questions (MCQ) and 7 task-based simulations (TBS).
Financial Accounting and Reporting (FAR)
Content: Covers financial reporting, balance sheet accounts, and select transactions for for-profit and nonprofit organizations.
Time: 4 hours.
Question Types: 50 MCQ and 7 TBS.
Taxation and Regulation (REG)
Content: Tests federal tax procedures, business law, property taxation, and individual taxation.
Time: 4 hours.
Question Types: 72 MCQ and 8 TBS.
Discipline Sections (Choose one):
Business Analysis and Reporting (BAR)
Content: Tests analytical, forecasting, and technical accounting skills, including reporting requirements.
Time: 4 hours.
Question Types: 50 MCQ and 7 TBS.
Information Systems and Control (ISC)
Content: Evaluates information systems and data management skills, including confidentiality and privacy requirements.
Time: 4 hours.
Question Types: 82 MCQ and 6 TBS.
Tax Compliance and Planning (TCP)
Content: Evaluates financial planning, entity tax compliance, and entity tax planning knowledge.
Time: 4 hours.
Question Types: 68 MCQ and 7 TBS.
Recommendations for the First Year:
Start with the Core Sections: It is generally recommended to start with the core sections (AUD, FAR, REG) as they form the foundation of the CPA exam and are required for all candidates.
Choose a Discipline Section Based on Your Interests: Select the discipline section (BAR, ISC, or TCP) based on your career interests and goals. For example, if you are interested in information technology, ISC might be a good choice.
By focusing on these sections in the first year, you can build a strong foundation and increase your chances of passing the CPA exam.