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AICPA CPA-Regulation exam is a vital step towards becoming a certified public accountant in the United States. It tests the candidate's understanding of federal taxation, business law, ethics, and professional responsibilities. To pass CPA-Regulation exam, candidates must prepare adequately, practice well, and be committed to their goal of becoming a professional accountant.
Reference: http://www.aicpa.org/BecomeACPA/CPAExam/ForCandidates/FAQ/Pages/computer_faqs_2.aspx
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AICPA CPA-Regulation Exam is a computer-based test that consists of 76 multiple-choice questions and 8 task-based simulations. CPA-Regulation exam is four hours long, and candidates are given a 15-minute break halfway through the test. CPA-Regulation exam covers four main areas: ethics, professional responsibilities, business law, and taxation.
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| Section | Weight | Objectives |
|---|---|---|
| Ethics, Professional Responsibilities and Federal Tax Procedures | 10-20% | - Legal Duties and Responsibilities - Federal Tax Procedures - Ethics and Professional Responsibilities |
| Federal Taxation of Property Transactions | 5-15% | - Property Tax Basis and Cost Recovery - Like-Kind Exchanges and Involuntary Conversions - Gains and Losses |
| Federal Taxation of Entities | 23-33% | - Partnerships - Trusts and Estates - C Corporations - Entity Tax Compliance - S Corporations - Limited Liability Companies |
| Federal Taxation of Individuals | 22-32% | - Property Transactions - Gross Income - Deductions - Tax Credits - Individual Tax Computation |
| Business Law | 15-25% | - Contracts - Federal Securities Regulation - Business Structure - Agency - Debtor-Creditor Relationships |
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