Who should take the CPA Regulation Exam
The Regulation (REG) section of the CPA Exam tests a CPA candidate's knowledge and skill level on federal taxation, business law, business ethics and professional and legal responsibilities. In order to take an CPA Exam, anyone who is interested in making their career in business management then they can go ahead and appear to all the 4 segments of this exam.
All the candidates appearing exam must have security number.
CPA exam is excellent opportunity for all below professionals to validate their skills in accountancy. As this exam is administered by the AICPA, which is the world's largest accounting body.
- LLB
- ICWA
- CS
- Chartered Accountant
- M.com and Commerce Graduates who aspire for an International Certification.
- MBA (Finance)
Reference: http://www.aicpa.org/BecomeACPA/CPAExam/ForCandidates/FAQ/Pages/computer_faqs_2.aspx
What is the duration, language, and format of CPA Regulation Exam
- Passing Score: 75 on scale of (0-99)
- Language: English
- Length of Examination: 4 hours.
- Scoring weight: 50% MCQ's , 50% TBSs
- Format of exam : Computer based exam .
- Number of Questions: 84 Questions ( comprises of 76 MCQs, 8 Task Based Simulations)
- Type of Questions: This test format is multiple-choice questions (MCQs) , task-based simulations (TBSs)
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AICPA CPA-Regulation Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Business Law | 15-25% | - Debtor-Creditor Relationships - Agency - Business Structure - Contracts - Federal Securities Regulation |
| Topic 2: Federal Taxation of Entities | 23-33% | - Trusts and Estates - Limited Liability Companies - Entity Tax Compliance - Partnerships - C Corporations - S Corporations |
| Topic 3: Ethics, Professional Responsibilities and Federal Tax Procedures | 10-20% | - Legal Duties and Responsibilities - Ethics and Professional Responsibilities - Federal Tax Procedures |
| Topic 4: Federal Taxation of Individuals | 22-32% | - Tax Credits - Gross Income - Individual Tax Computation - Deductions - Property Transactions |
| Topic 5: Federal Taxation of Property Transactions | 5-15% | - Property Tax Basis and Cost Recovery - Like-Kind Exchanges and Involuntary Conversions - Gains and Losses |
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