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AICPA CPA-Regulation (Certified Public Accountant CPA Regulation) Certification Exam is a rigorous exam that is designed to test the knowledge and skills of aspiring Certified Public Accountants (CPAs) in the United States. CPA-Regulation exam is one of four exams that candidates must pass in order to earn their CPA license. The CPA-Regulation exam covers a wide range of topics related to business law, federal taxation, and professional responsibilities, among others.
The CPA-Regulation (Certified Public Accountant) Certification Exam is an important milestone in an accountant's career. A CPA license is a highly respected certification, and it is one of the most valuable assets possessed by an accountant. The AICPA (American Institute of Certified Public Accountants) CPA-Regulation Exam is a challenging exam that tests an accountant's knowledge of regulation, taxation, and business law. To pass the exam, an accountant must have a thorough understanding of the regulations governing accounting practices in the United States.
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The CPA-REG exam is a four-hour computerized exam that consists of 76 multiple-choice questions and eight task-based simulations. Candidates are given four hours to complete the exam, and they must score at least 75 to pass. CPA-Regulation exam covers four main areas: business law and professional responsibilities, federal taxation of entities, federal taxation of individuals, and ethics, professional responsibilities, and general principles. Candidates must have a strong understanding of these topics to pass the CPA-REG exam.
Reference: http://www.aicpa.org/BecomeACPA/CPAExam/ForCandidates/FAQ/Pages/computer_faqs_2.aspx
| Section | Weight | Objectives |
|---|---|---|
| Federal Taxation of Entities | 15–25% | - S corporations - Partnerships - Estate and trust taxation basics - C corporations taxation |
| Federal Taxation of Individuals | 15–25% | - Individual tax computations - Deductions and credits - Gross income inclusions and exclusions |
| Business Law | 20–30% | - Agency - Contracts - Business structure and regulation - Commercial transactions (UCC) |
| Ethics, Professional Responsibilities and Federal Tax Procedures | 15–25% | - Federal tax procedures - Ethical and professional responsibilities |
| Federal Taxation of Property Transactions | 5–15% | - Basis calculations - Property disposition and recognition of gain/loss |
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