Two Exams You Must Take in 2010
“What CPA Exam sections should I take in 2010 before the 2011 changes?
I am seeing this question a lot lately. Candidates are confused about the 2011 changes, what exams are changing – what exams aren’t changing, etc.
Let me break it down for you.
- FAR and AUD must be the priority. As of January 2011, they are both inheriting IFRS and candidates must be fluent in both GAAP and IFRS. Pass them before the end of the year.
- BEC is next. BEC isn’t changing much except – oh, that you must be able to write essays about BEC topics. Don’t want to write an essay about Governmental interference and its impact on the Supply Curve? Pass BEC before the end of the year.
- REG is changing the least. In fact, you could make the case that REG is getting “easier”. REG won’t have IFRS in 2011 and AUD is taking some of the ethics material off of REG’s plate. Yet another reason to pass AUD now and save REG for later.
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great breakdown! hopefully i have finished, waiting on BEC score now, but have forwarded this to two of my friends who are set to start studying soon!
To the best of my knowledge, REG is also adding the business structure portion of BEC (e.g. sole proprietorship, llc, llp, etc.)
You are correct Brian. I went back and looked at one of my old posts.
-Ethics and Independence are shifting to AUD
-Business Structures previously tested under BEC will now be included in the Regulation section of the Exam
-Tax-exempt entities and estates will be more heavily tested
What happens if you don’t take FAR or AUD due to other circumstances? Would you still get the 2011 materials in addition to 2010? The way you wrote it, it sounds like you ONLY get the 2011 stuff if you FAIL in 2010.
As of right now, this is true…you get the 2011 upgrade free if you Fail.
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Jeff –
Realistically, I won’t be able to take AUD until 2011. How bad is that? From reading other posts, it seems that people generally have the easiest time with AUD; I’m hoping that the international stuff won’t make it that much harder. Any input?