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Certified Public Accountant (CPA)

 

the leading professional qualification for accountants and auditors

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CPA Review

What can you do if you are a CPA
Who gives the CPA exam
Exam Format and passing scores
Obtaining the CPA license
Eligibility requirements for Non-USA Citizens
When can the CPA exam be taken
Where may the CPA exam be taken
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CPA Review professional course


The CPA license is the leading professional qualification in the world for accountants and auditors. It is recognized around the world by the business community. For more information about the CPA Preparatory Program that we provide in Palestine, please contact Dr. Fadi Kattan . He will send you full information about the program and the timing of the next available course. Check our web site regularly for updates and schedules.

 


What can you do if you are a CPA?


In addition to the typical accounting functions, there are many specialty disciplines:

  • Audit and Assurance
    Ensuring that financial statements properly reflect the financial performance of the company.
  • Tax and Financial Planning
    Recommending savings, investment, and tax options to eliminate debt, control expenses, minimize tax burdens, and optimize investments.
  • Internal Auditing
    Assessing the effectiveness of an entity’s control structure either as an employee or an outside consultant. These professionals are in high demand as a result of new corporate governance regulations.
  • IT Services
    Designing, integrating, and implementing advanced software systems, acting as a bridge between hardware/software and organizational goals.
  • Forensic Accounting
    Preventing, detecting, and investigating financial frauds such as embezzlement, securities fraud, tax evasion, and money-laundering schemes. Demand for this specialty has grown significantly as a result of recent corporate scandals.
  • International Accounting
    Companies adopting International Financial Reporting Standards (IFRS) need accountants to help reconcile IFRS with U.S. GAAP. Professionals with knowledge of U.S. GAAP who work well in an international environment are increasingly in demand.
  • Environmental Accounting
    Addressing how companies can be both environmentally responsible and profitable. This includes focusing on a variety of projects like environmental compliance audits and managing and preventing claims and disputes.
  • Consulting Services
    Providing a variety of specialty services for companies, including performance management, financial planning, and strategy and operations planning.
  • Financial Analysis
    Evaluating business data, identifying trends, and participating in the long-term strategy of a firm.
  • General Accounting
    Processing journal entries, performing account analysis and reconciliation, and preparing payroll, sales, and use tax, and other local tax filing

 

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Who gives the CPA exam?


The CPA Exam is set by the American Institute of CPAs (AICPA), the leading professional organization for accountants, auditors and tax professionals in the United States.

The exam is given by the AICPA, but the exam is administered individually by each state in the US. This means that the administrative rules for the exam are different in different states, but the exam itself is constant between states.

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CPA exam topics?


The CPA Exam is made up of four parts. The parts may be taken one at a time, but all four parts must be passed within an 18-month period. This means that the fourth part must be passed within 18 months of the day the first part was passed. The four parts of the exam are listed below as well as two other pieces of information. The length of the exam and the corresponding part to the old exam are also provided. The corresponding part to the old exam are relevant for those who passed 2 or 3 parts before 2004. If you passed 2 or 3 parts prior to 2004, you will not need to take any additional parts. You will be exempt from the corresponding part of the new exam.

Exam Part Duration  
1. Auditing and Attestation 4.5 hours Auditing
2. Financial Accounting and Reporting 4 hours Financial Accounting and Reporting
3. Regulation 3 hours Accounting and Reporting
4. Business Environment and Concepts 2.5 hours Business Law

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Exam Format and passing scores


The exam is now a computer-based exam. This means that the questions will be delivered via computer and your answers will be entered directly into the computer. This is the case for the multiple-choice questions as well as the problems and written answer questions.

All of the parts of the exam will include multiple-choice questions. In addition, all of the parts except for Business Environment and Concepts will include a case study component called simulations. Simulations provide a set of facts and require the candidate to complete tasks related to that information and also to access authoritative literature related to the information. More information about the simulations and sample simulations will be provided to candidates during their preparation process.

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Obtaining the CPA license


After passing all of the exams, a candidate must demonstrate that they have the necessary experience. Though this experience requirement is determined by each state individually, most states require two years of public accounting experience in audit or taxation.
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Eligibility requirements for Non-USA Citizens


Candidates educated outside of the United States may be eligible to sit for the exam in the state of Colorado.  candidates who earned degrees from foreign institutions must have their educational credentials evaluated by a generally accepted evaluation service such as the Foreign Academic Credentials Service. 

Foreign Academic Credential Services, Inc.
P.O. Box 400
Glen Carbon, IL 62034
Tel: (618) 656-5291
Fax: (618) 656-5292
www.facsusa.com

For more information about eligibility requirements in other states, visit the website of the National Association of State Boards of Accountancy www.nasba.org.

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When can the CPA exam be taken


The exam is available much more frequently than in the past. The exam will be available to be taken during the following months:

The exam will not be available to be taken during the other four months of the year.


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Where may the CPA exam be taken


The CPA Exam is available to be taken only in the United States. However, because the exam is now computer based, a candidate does not need to actually take the exam in the same state that they register for the exam. A candidate who registers in either Alaska or new Hampshire will be able to take the exam in any state. This will provide much more flexibility for candidates to be able to take the exam when they would like to take the exam.


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Who Gives this exam?


The CPA Exam is set by the American Institute of CPAs (AICPA), the leading professional organization for accountants, auditors and tax professionals in the United States.

The exam is given by the AICPA, but the exam is administered individually by each state in the US. This means that the administrative rules for the exam are different in different states, but the exam itself is constant between states.

View American Institute of CPAs Website

 
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