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CERTIFIED PUBLIC ACCOUNTANT
(New CBTe format wef 01/01/2011)
Examination Conducted by
American Institute of Certified Public Accountant (AICPA)
Certification Issued by
State Board of Accountancy from applicable State
International Recognition
US CPA is mutually recognized by CA – Canada, CPA – Australia, CA - New Zealand and others
Eligibility
M.Com / M.B.A. / ICWA / CA are eligible.
B.Com/ B.A./ BBA / B.SC graduates with Accounting subjects are eligible, subject to conditions
Examination Center
Any prometric center in USA.
Exam Format (Current)
Papers 1, 2 & 3 (AA, FAR, REG)
75% - 80% are tested by Multiple Choice Questions (MCQs)
20% - 25% are tested by Simulation Questions* (SQs)
* Simulation questions will be in the form of theory / problem / objective and research Paper 4 (BEC)
100% Multiple Choice Questions Only
| Current | (Till | 2010) | |
| Subjects | Exams Hrs. | MCQ 70% | SQ 30% |
| P1: Auditing & Attestation | 4.5 | 3 x 30 | 2 x 1 |
| P2: Financial Accounting & Reporting | 4.0 | 3 x 30 | 2 x 1 |
| P3: Regulation (Law & Tax) | 3.0 | 3 x 30 | 2 x 1 |
| P4: Business Environment & Concepts | 2.5 | 3 x 30 | - |
| MCQ - Multiple Choice Questions SQ - Simulation Questions |
| Exam Format (New) | New | CBTe | (from | 2011) |
| Subjects | Exam Hrs. | MCQ 60% | BS 40% | WCT |
| P1: Auditing & Attestation | 4 | 3 x 30 | 1 x 7 | - |
| P2: Financial Accounting & Reporting | 4 | 3 x 30 | 1 x 6 | - |
| P3: Regulation (Law & Tax) | 3 | 3 x 30 | 1 x 7 | - |
| P4: Business Environment & Concepts | 3 | 3 x 24 | - | 3 |
| TBS – Task Based Simulation WCT – Written Communication Task | 85% | 15% |
Minimum Passing Mark
Passing grade for each section - 75%
Credits for passed papers are available for 18 months
Practical Experience
Not required in some states for getting CPA designation (2 tier states)
Required for licensing as Public Accounting Practitioner
Exam Fees
Membership Fee Not applicable
Exam Fees for 4 papers $ 750 – 900 - varies from state to state
Exam Registration Fee $ 145 – 220 - varies from state to state
