Re You Taking The.docx

re you taking the Certified Public Accountant (CPA) Licensure Exam soon? Make sure you verify here the CPA Board exam coverage, scope, and topics so that you’ll know what you need to review and study. Good luck to all aspiring CPAs!

CPA Board Exam Coverage The general topics included in the CPA Licensure Exam (CPALE) are the following. 

I. Auditing



II. Management Advisory Services



III. Taxation

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IV. Regulatory Framework for Business Transactions

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V. Financial Accounting and Reporting

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VI. Advanced Financial Accounting and Reporting (AFAR)

As per the Board of Accountancy (BOA)’s Resolution No. 114 Series of 2016, the individual subjects in the CPA Boards shall be composed of two (2) parts with the corresponding percentage weights.

SUBJECT

THEORETICAL

PRACTICAL / COMPETENCE

Auditing

50%

50%

Management Advisory Services

30%

70%

Taxation

30%

70%

Regulatory Framework for Business Transactions

70%

30%

Financial Accounting and Reporting

30%

70%

Advanced Financial Accounting and Reporting

30%

70%

Oct 2018, May 2019, and Oct 2019 CPA Exam UPDATE (August 2018): According to the Board of Accountancy (BOA), the CPA Examinations in October 2018, May 2019, and October 2019 shall cover the NEW and OLD provisions of certain laws and standards. These include the new and old provisions of the following three (3) topics: 

Tax Reform for Acceleration and Inclusion or TRAIN Law



PFRS 9 on “Financial instruments”



PFRS 15 on “Revenue from Contracts with Customers”

Takers of the CPA Board Exam, especially this coming October 2018, should be knowledgeable on the new as well as the old provisions of the three (3) aforementioned topics since questions on these will be given in the appropriate subjects, i.e. Taxation and Advanced Financial Reporting (AFAR). The exam questions will specify what measure (old or new) shall be considered to answer the questions. Beginning the May 2020 CPA Licensure Exam, only the new provisions will be covered and included in such exam.