The up to date, 2024 CPA Examination (“Examination”) Blueprints introduce a special examination structure that can create flexibility and permit emerging accountants to display their strengths and pursuits.
New to the Blueprints and the Examination is the advent of a Self-discipline segment. As a substitute of everybody trying out underneath the similar 4 Examination sections, there are 3 Core sections, and applicants will have to then make a selection one among 3 Disciplines.
Adjustments to the Blueprints and the Examination “in reality center of attention on further generation ideas, together with Device and Group Controls (SOC) engagements, knowledge, generation, and a brand new part within the Examination, non-public monetary making plans,” stated Joe Maslott, CPA, affiliate director–Content material Control at AICPA & CIMA, in combination because the Affiliation of World Qualified Skilled Accountants. “The Blueprint construction has now not modified, however the underlying content material in each and every Core and Self-discipline Examination segment is other, which is why being aware of each and every segment Blueprint is crucial.”
The Blueprints, with over 100 pages, are a go-to information for the CPA Examination for college students, lecturers and school contributors, trying out officers, Examination writers, and others.
“The Blueprints are the reliable report that outline the content material this is eligible for overview at the Examination,” stated Richard Gallagher, CPA, senior director–Exam Content material at AICPA & CIMA. “Material this is eligible for trying out is described in each and every of the Blueprint sections. The Blueprints are a severe report.”
Updates replicate adjustments within the career
Advent of the Core and Self-discipline type supplies each flexibility for applicants and higher overview actual property. Content material assessed within the Core sections displays wisdom and abilities that each one newly approved CPAs will have to know.
“The breadth of data required of CPAs has higher through the years,” Gallagher stated. “The CPA Examination is the gateway to licensure within the career.”
The 3 sections that include the Core of the Examination — Auditing and Attestation (AUD), Monetary Accounting and Reporting (FAR), and Taxation and Law (REG) — shall be very similar to the present model of the Examination, even if some content material has moved from FAR and REG to their comparable Self-discipline sections.
Every candidate will have to additionally go a Self-discipline segment for licensure. Applicants can make a choice from 3 choices: Industry Research and Reporting (BAR), Data Techniques and Controls (ISC), or Tax Compliance and Making plans (TCP). The Self-discipline sections permit applicants to “display wisdom and abilities in a space that aligns with their present pursuits,” Maslott stated.
The CPA Examination Blueprints shall be to be had for evaluation beginning in January 2023. Checking out underneath the up to date curriculum starts in 2024, so everybody has a 12 months to acclimate and get ready.
Evolution of the Blueprints
The brand new spherical of adjustments to the CPA Examination Blueprints had been knowledgeable through a 2021 survey that requested what wisdom and ability units newly approved CPAs (nlCPAs) wanted.
“In the course of the 2021 survey, we sought to grasp what nlCPAs will have to know and what they’re doing at the activity all over the primary few years in their careers,” stated Mike Decker, vp–CPA Exam and Pipeline at AICPA & CIMA. “What we discovered is nlCPAs are working underneath the higher power of a posh technological and regulatory setting. Via evolving the CPA Examination, we’re serving to long term CPAs embody new talents and competencies and thereby making them higher provided to deal with what is wanted lately — and one day.”
Decker famous this can be a receive advantages to employers as smartly. nlCPAs could have enhanced competencies extra related to lately’s industry practices and company products and services. Enabling applicants to check inside of their selected house might also open the door to extra majors having an higher hobby within the career.
“Historically, the CPA license is sought through other people in industry, math, or accounting stage methods, however, with a better emphasis on generation and generation programs, we’re opening the door to attracting new majors into the career,” Decker stated.
A part of the wider CPA Evolution undertaking, the adjustments be sure that the CPA licensure type displays the specialization wanted of lately’s accountants as a result of the evolving calls for of generation, outsourcing, and extra.
Advent of better flexibility
The brand new structure and content material are in step with prior to now enacted CPA Examination adjustments that reflect the evolution throughout the career. In 2016, the Blueprints had been offered and integrated subjects associated with problem-solving and critical-thinking talents. At the moment, there was once an building up within the quantity and complexity of task-based simulations, small case research/issues upon which applicants had been assessed in each and every Examination segment.
The Blueprints had been revised once more in 2021 to replicate the have an effect on of generation at the paintings nlCPAs carry out.
“The place we’re lately builds off of the basis of the ones previous adjustments,” Gallagher stated.
The brand new Examination type alerts an higher significance on flexibility — flexibility wanted within the career as a complete and for people. Whilst a candidate can choose their Self-discipline segment, it does now not limit their observe all the way through their occupation. They may be able to shift their scope of observe as their occupation unfolds.
“As a substitute of everybody taking the very same 4 sections, it permits a candidate to align with what their pursuits and passions are lately,” Maslott stated.
— Beth Roessner is a senior content material author at AICPA & CIMA, in combination because the Affiliation of World Qualified Skilled Accountants. To remark in this article or to signify an concept for any other article, touch Courtney Vien at [email protected].
Supply Via https://www.journalofaccountancy.com/information/2023/jan/2024-cpa-exam-blueprints-released.html