Some good news for all of you REGulators out there. The CARES Act (Coronavirus Aid, Relief, and Economic Security Act) won’t be tested on the CPA Exam until October 1, 2020, per the AICPA’s CPA Exam Policy on New Pronouncements: “Accounting and auditing pronouncements are eligible to be tested on the Uniform CPA Examination in the later of: (1) the first testing window beginning after the pronouncement’s earliest mandatory effective date or (2) the first testing window beginning six (6) months after the pronouncement’s issuance date. In either case, there is a simultaneous introduction of content related to the new pronouncement and removal of content related to the previous pronouncement. Changes in the federal taxation area, the Internal Revenue Code, and federal taxation regulations may be included in the testing window beginning six (6) months after the change’s effective date or enactment date, whichever is later. For all other subjects […]
0
0
