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Do you believe that you need to have an Accounting degree in order to pass the CPA exam? You shouldn’t! In fact, having diverse experience and education are extremely important assets for a successful CPA to have! But if you are not careful, preparing for the CPA exam can easily cost thousands of unnecessary dollars.
There are four tests that must be passed within a one year period. They are Financial Accounting and Reporting, Auditing and Attestation, Regulation and Business Environment and Concepts. Research the topics covered in each section and see how comfortable you are in answering questions in each. To help, look at the free CPA exam sample questions listed in the links below.
The Business Environment and Concepts exam discusses risk management and information systems, including inventory systems and financial reporting systems. Another very big topic is corporate governance, including the role of the CEO and the Board of Directors. In recent years, many companies have outsourced functions overseas. The globalization of business is tested as well.
The Financial Accounting and Reporting exam includes both U.S. Generally Accepted Accounting Principles and the International Financial Reporting Standards. Wise test-takers will be able to identify the significant differences between the two. This section will also cover reconciliation, consolidating and eliminating journal entries and financial statement analysis that includes variance, trends and ratios.
Most people think of taxes when they think of a CPA. The Regulation exam is where personal and corporate taxation is covered. Details will include gifting, educational benefits, and several types of retirement plans. Not surprisingly, the AICPA’s Statements on Standards for Tax Services is also tested. There are several free CPA sample questions online that can help assess your mastery of this topic.
The Auditing and Attestation exam will also cover international rules. Applicants will need to identify the unique rules of the U.S. Auditing Standards and the International Standards on Accounting. Another challenging subject is the similarities and differences of audits, attestations, assurances, compilations, and reviews. These topics can be confusing, but the free CPA exam samples listed below will help you master these topics.
The CPA exam is not graded on a straight line. In fact, not every test-taker will even take the same difficulty of tests. Don’t worry though! A poor scoring “hard” exam may end up giving you the same points as a good scoring “easy” exam. Very few people feel that they passed when they leave the testing center. That’s ok! You only need a 75 to pass. Don’t spend thousands of dollars on a CPA Exam Review before you thoroughly explore the following free CPA exam questions.
Look for Free CPA Exam Questions. There are many sites that contain CPA Exam Sample Questions to help you pass today!
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